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Natural Foods Merchandiser

Will millennials knock off traditional grocery?

Will millennials knock off traditional grocery?
Food retailers and manufacturers face a tidal wave of change as one mega-generation (millennials born between 1982 and 2001) comes of age and another (the baby boomers) moves into the next phase of life.

A shift in buying preferences and values accompanies the massive demographic changes, according to a new joint study by investment bank Jefferies and business advisory firm AlixPartners. Here are some facts to follow.

18 percent

Millennials less likely than baby boomers to shop at a traditional grocery store

19 percent

Portion of the U.S. population that will be comprised of millennials by the year 2020. This is up from 5 percent in 2010

47 percent

Percentage of millennials who say brands are at least somewhat important to their grocery buying decisions, compared to 61 percent of boomers  

58 percent

Millennials who say they are willing to pay more for natural and organic foods, compared to 43 percent of boomers

$50 billion

Expected increase in millennial grocery spending by 2020

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