#149 - Leaning into Generational Differences at CPG Retail

Some 93% of Gen Z and younger millennials are changing their behavior based on higher prices, a much higher percentage than previous generations. Stepping back for a wider view, Jonna Parker, team lead, Circana’s Fresh Foods Group, believes these younger consumers have been impacted by more trauma, from terrorism and a recession to pandemic and current inflation. Given the world they’ve grown up in, they aren’t going to become like their older counterparts. Parker and Anne-Marie Roerink, president of 210 Analytics, dive into generational differences and how retailers and brands can connect. Highlights: 2024 is an inflection point where generational differences in eating, cooking, and shopping will need to be balanced. Retailers and brands need to recognize that older consumers still shop the separate store departments (such as butcher, dairy, and produce) while younger consumers rely more on cross-merchandising that brings different departments together for easy solutions. Even as butcher service counters are closing, store butchers have social currency, providing service via recommendations and tips on social media platforms.