Unilever's Trip Management Study on Baby Boomers

Unilever U.S. recently announced findings from the third segment of its proprietary Trip Management Study. (See Related Articles for the first two segments, "Winning the Hispanic Shopping Trip" and "Trip Management: The Next Big Thing".)Entitled Boomer Shoppers Today and Tomorrow: Following the Money, the study reveals how this demographic -- whose disposable income is pegged at about $2 trillion a year -- not only shops today, but more importantly, reveals what kind of shopping experiences they are likely to seek ten years from now."The time is long overdue to rethink Baby Boomers. This pivotal generation is anything but homogenous," stated Kevin Havelock, President, Unilever U.S. "With their focus on health and well-being, they want to continue maintaining the vitality they now enjoy. As Boomers age, retailers who'll know how to help them stay vibrant and connected to what they care for most in life will be the winners."Using Unilever's Trip Management tools combined with a proprietary Nielsen data overlay, the report outlines how Baby Boomers (born between 1946 and 1964) take 58% of all consumer packaged goods (CPG) shopping trips and spend 60% of all CPG shopping dollars in the U.S. The report is also the first to examine multiple aspects of Boomer behavior, including trip frequency and spend, channel preferences, their most common needs and how they define value for the money in the stores they shop. The shopping paradigm for one of the largest and influential segments of the U. S. population is clearly shifting, according to one of the study's lead co-investigators."This group of shoppers is transforming the retail landscape," said co-lead investigator, Eileen Kozin, Director, Consumer Futures, Unilever U.S. "Retailers must continue to be proactive if they are to meet the needs of this influential group." "This study finds that all Boomers are not the same in terms of their shopping needs," said Mike Twitty, Senior Manager, Shopper Insights, Unilever U.S. "We identified four distinct Boomer shopping groups and projected them into the future, identifying what their wants and desires will be in 2017." Within this future paradigm, six different sets of shopping desires emerged that identify what shoppers will be looking for 10 years from now. The six unique shopping scenarios are:High Expectations: In this scenario, Boomers invest more time and money in their purchases. They are seeking a premium shopping experience, which could be driven by product range, atmosphere/environment, knowledge and/or service.Neighborhood Connections: Boomers in this scenario believe that purchases are an extension of the people that they buy from. Personal connections, based on trust and knowledge, drive this locally focused shopping scenario.Good To Go: Convenience and simplicity coupled with quality drive this scenario. Boomers in this scenario are looking for quick in and out service with fresh quality offerings for short term use.Do It For Me: Disengaged from the shopping experience, in this scenario, Boomers rely on others to deal with the hassle of shopping.Fun of the Fair: In this scenario, shopping turns into sport. Boomers are hunting for new products and experiences. They seek value in feeling smart about their choices.Shop and Save: This shopping scenario is one-dimensional. It is all about getting the best price with relation to value. "There is no question that Baby Boomers are redefining the meaning of getting older," added Kevin Havelock, President, Unilever U.S. "Unilever's in-depth study reveals what drives the purchasing habits of the diverse Boomer population and what will drive them in the future. Our findings give retailers a keenly useful tool to win over an extraordinarily influential demographic today and into the next decade.""Boomers are the consumer group for whom vitality rings truest," added Kozin. "With this study, Unilever brings a greater understanding to where their lives and shopping behaviors will be in the future and how their emphasis on 'feeling alive' will influence all."

P2PI MEMBERS

JOIN P2PI

You May Also Like

Retail Media And The CPG Consumer

The New Consumer (March-April 2024)