SeaFood Business

APR 2014

SeaFood Business is the global trusted authority for seafood buyers and sellers. We are the seafood industry's leading trade magazine with more than 30 years of experience. Our coverage is based on the "business" of buying and selling seafood.

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Page 28 of 62

Top Story Millennials are adventurous with their cuisine choices, including seafood. Photo by Laura Lee Dobson Talkin' bout my generation Millennials represent a new frontier for seafood marketers BY CHRISTINE BLANK M illennials are an elusive lot. These 20- to 35-year-olds have varying tastes and preferences and have become one of the most powerful purchasing groups in America. Around 77 million consumers, almost 25 percent of the U.S. population, are classifed as millennials. This is a massive demographic that rivals the other big generational group: baby boomers. However, little is under- stood about millennials by seafood marketers, in part because this group is a walk- ing contradiction. Most millennials are interested in buying products that they consider to be healthful and environmentally friendly, in- cluding local and sustainable foods, yet they are not always willing to pay for these pre- mium items. Millennials are looking for value more than any other generation. Tey are newest to the workforce and are one of the groups "hit hardest by the economic downturn," says Sherry Frey, executive VP of Nielsen Per- ishables Group. "Tey tend to buy lower-priced seafood items as well as more conve- nient/value-added options." Millennials are also more tech-savvy and convenience- minded than their Genera- tion X and baby boomer pre- decessors. While this makes them open to marketing via social media and buying con- venient foods at supermar- kets, C-stores, restaurants and other outlets, they also are known for having short attention spans. Fortunately for seafood manufacturers and res- taurants, millennials have adventurous taste buds. Seafood is already a more adventurous item for many shoppers to buy. Retailers and restaurants that accom- pany their seafood dishes with unique, worldly favors will likely succeed. Baby boomers (those born between 1946 and 1964), meanwhile, are also looking for exciting new favors and — with their desire to eat healthier foods than other groups — are the other most important demographic group for seafood marketers. "Compared to total shop- pers, both boomers and mil- lennials are more engaged with the seafood department, with higher household pene- tration, more trips and a larger spend per trip," Frey says. The numbers Both millennials and baby boomers spend more money 24 SeaFood Business April 2014 Visit us online at 24_28TopStory.indd 24 3/24/14 3:26 PM

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