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The Generational Consumer Trend Report
Technomic Inc., April 2008, Pages: 250
DRIVE GROWTH AT YOUR COMPANY BY UNDERSTANDING THE IMPACT AND IMPORTANCE OF
THE THREE LARGEST CONSUMER GENERATIONS*
Exploring consumer behavior by generational groups offers new perspectives about what drives the decisions that consumers make in the foodservice marketplace. Technomic’s exclusive survey research was designed to offer this insight—providing the industry with a detailed view on what each generation means to the foodservice business—based on more than 1,500 consumer respondents.
Understanding these consumers is critical as they comprise the majority of spending in the U.S. Purchasing preferences within generational groups vary due to lifestage and a multitude of other factors. Technomic helps to identify the most significant factors that influence these decisions in the new Generational Consumer Trend Report. Technomic also analyzes demographic trends within generations to uncover, for example, how one generational cohort can vary between older and younger members in terms of their attitudes, preferences and behaviors.
REPORT BENEFITS:
- Gain understanding on what Baby Boomers—the generational group with the greatest spending power—want from foodservice operators and why fewer Boomers eat out at restaurants compared to those in younger generational groups.
- Generational groups are not homogeneous. Enhance offerings and broaden strategic planning to not only target these three generational groups, but also target more refined consumer segments within these groups.
- Address multiple consumer needstates by learning how consumers’ needs and preferences change as they go through various life stages.
REPORT DELIVERABLES:
- Industry decision-makers who read the Generational Consumer Trend Report will be empowered by exclusive Technomic survey data on these three main generational groups.
- In-depth overview of the U.S. consumer landscape and the impact that Boomers, Xers and Millennials have on the market. Understand their ethnic composition, household makeup, spending power and Internet usage, just to name a few areas covered in the report.
- Detailed consumer insights on each of the three generations, including recommendations on how to most effectively appeal to unique preferences within each group.
- Comparison across generational groups to help you create targeted marketing campaigns.
- Psychographic segmentation that goes beyond traditional demographic analysis. This report features seven new consumer clusters, segmented by higher-level attributes and consumer characteristics.
- Comprehensive outlook predicting potential shifts in these generational groups as well as what to expect from these consumers as they age.
Note:
For purposes of this report, generational group definitions are as follows: Millennials—Born between 1977 and 1992 (16 to 31 years of age); Generation X—Born between 1966 and 1976 (32 to 42 years of age); Baby Boomers—Born between 1946 and 1965 (43 to 62 years of age).
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