Supermarket Perimeter - November 2024 - 28

Deli: Grab-and-go
to prepare a meal, they often turn to TikTok for meal inspiration. " Girl
Dinner, " a collection of snacks or small portions of food, is becoming
a popular way to maximize opportunities to snack on comfort foods
without the time constraints of traditional meal prep, whether dining
solo or with friends.
CRYSTAL SEAL®
Future focused
Homing in on the preferences of younger generations is critical when
you consider the collective economic powerhouse they represent and
their growing influence on household purchases. Gen Z is set to bring
the most money to the consumer spending class by 2030, according to
the NielsenIQ and World Data Lab - Global Gen Z Spending Report. Gen
Z spending will grow at a CAGR of 4.02%, twice the speed of previous
generations. They are also predicted to be the largest and wealthiest
demographic.
Gen Z spending power is projected to grow to an estimated $12
trillion by 2030 and will exert significant influence on the products
manufacturers and retailers sell in the near future. It's also important
to note that the spending habits of Gen Z are being shaped during an
inflationary period, and there's a good chance these formative decisions
will also reach into the future, Mauck said.
" These demographics seek out novelty, they love global flavors, and
they are open to exploring new types of snacks, " she continued. " At
the same time, they're very mindful of their purchases and look for
CRAVINGS
snacks they can feel good about eating, both from a nutritional and
sustainability perspective. "
Gen Z consumers embrace a blend of traditional and non-traditional
influences and prioritize a blend of affordability, taste and quality.
Because value is rarely based on price alone, an expanding definition of
value will be important; especially as economic restriction continues
to impact consumers of all ages who are looking to stretch their food
dollars. This awareness offers opportunities for food industry partners
to cater to shoppers' expanding definitions of value, according to FMI.
Because of their size and spending power, Gen Z will wield great
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influence over the food industry for years to come. This will include
preferences for mindful food choices, smaller portions and societal and
environmental considerations that will likely evolve as the demographic
continues to form its personal worldviews.
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28 - NOVEMBER 2024
800.541.1535
supermarketperimeter.com
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CRAVINGS™
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Supermarket Perimeter - November 2024

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