CHICAGO -- Consumer products company Unilever U.S. has announced the findings of its proprietary Trip Management Study at the Food Marketing Institute's (FMI) annual conference in Chicago.
This report, Boomer Shoppers Today & Tomorrow: Following the Money, reveals how this demographic, with disposable income is pegged at about $2 trillion a year, shops today, as well as reveals what kind of shopping experiences they are likely to seek 10 years from now.
The time is long overdue to rethink Baby Boomers. This pivotal generation is anything but homogenous said Kevin Havelock, president [image-nocss] of Unilever U.S. With their focus on health and well-being, they want to continue maintaining the vitality they now enjoy. As Boomers age, retailers who'll know how to help them stay vibrant and connected to what they care for most in life will be the winners.
The report outlines how Baby Boomers (born between 1946 and 1964) take 58% of all consumer packaged goods (CPG) shopping trips and spend 60% of all U.S. CPG shopping dollars. The report is also the first to examine multiple aspects of Boomer behavior, including trip frequency and spend, channels they prefer, their most common needs and how they define value for the money in the stores they shop.
The shopping paradigm for one of the largest and influential segments of the U.S. population is clearly shifting, according to one of the lead co-investigators. This group of shoppers is transforming the retail landscape said Eileen Kozin, director of consumer futures for Unilever U.S. Retailers must continue to be proactive if they are to meet the needs of this influential group.
Mike Twitty, senior manager of shopper insights for Unilever U.S., added, This study finds that all Boomers are not the same in terms of their shopping needs. We identified four distinct Boomer shopping groups and projected them into the future, identifying what their wants and desires will be in 2017.
Within this future paradigm, six different sets of shopping desires emerged that identify what shoppers will be looking for 10 years from now. The six unique shopping scenarios include:
High Expectations: In this scenario, Boomers invest more time and money in their purchases. They are seeking a premium shopping experience, which could be driven by product range, atmosphere/environment, knowledge and/or service. Neighborhood Connections: Boomers in this scenario believe that purchases are an extension of the people that they buy from. Personal connections, based on trust and knowledge, drive this locally focused shopping scenario. Good To Go: Convenience and simplicity coupled with quality drive this scenario. Boomers in this scenario are looking for quick in-and-out service with fresh quality offerings for short term use. Do It For Me: Disengaged from the shopping experience, in this scenario, Boomers rely on others to deal with the hassle of shopping. Fun of the Fair: In this scenario, shopping turns into sport. Boomers are hunting for new products and experiences. They seek value in feeling smart about their choices. Shop and Save: This shopping scenario is one dimensional. It is all about getting the best price with relation to value.There is no question that Baby Boomers are redefining the meaning of getting older said Havelock.
Kozin added, Boomers are the consumer group for whom vitality rings truest.
Englewood Cliffs, N.J.-based Unilever has a portfolio of brands that include Axe, All, Ben & Jerry's, Bertolli, Breyers, Caress, Country Crock, Degree, Dove, Hellmann�s, Knorr, Lipton, Popsicle, Promise, Q-Tips, Skippy, Slim-Fast, Snuggle, Suave, Sunsilk and Vaseline.
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