changing-shape-of-cpg-demand-and-baby-boomers

Boomers and the Changing Demand Curve

SUMMARY


THE CHANGING SHAPE OF THE CPG DEMAND CURVE: BOOMERS

In this report, IRI has analyzed the Baby Boomer response to COVID-19 and how it has been shaping the CPG demand curve.

Observations:

  • Boomers are both a significant (22%) part of the U.S. population, and they control more than half (57%) of U.S. household wealth. But nearly one-third report financial insecurity.
  • Baby Boomers are better positioned than other generations to financially weather the economic impact of the pandemic.
  • Age is not a barrier to e-commerce, as more than one-third of Boomers have tried online shopping.

Opportunities:

  • Prioritize delivering value, including price and a differentiating benefit.
  • Use Baby Boomers' preference for brick-and-mortar shopping to help them better support their wellness (e.g., promotion of immune-boosting foods, curated wellness food and product displays, and self-care ideas).
  • Deliver on Boomers' need for new ideas and inspiration, using both in-store and online resources, to deliver ideas for new, healthy ways to prepare food, as well as gamification.
  • Improve e-commerce search and discovery tools as a gateway to product exploration.

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