The ongoing coronavirus pandemic, along with social distancing measures, shutdowns and limited dine-out options are impacting consumers in a big way. With millions staying at home, digital media consumption has soared, with Gen Z leading the charge. Bloomberg describes Gen Z as people aged roughly 7 to 22, that accounts for a quarter of the global population. This socially-conscious, hyper-connected cohort is expected to have even bigger implications for companies than the millennials who preceded them. Within a short period of time, Gen Z is already imprinting its unique view on food choices and is likely to influence what ends up on shelves. Concerned about sustainability, this generation also wants to know how and where food is grown and produced as well as its environmental impact.
In terms of how they spend their dollars, Gen Z is accelerating the move to e-commerce, shifting existing products, services, and retailers to online, and towards digital-only or digital-first products, services, and retailers. E-commerce has grown more in the last four months compared to the last decade. It is worth considering how the future stages of consumption will impact brands, in terms of fresh and convenience foods, food service and delivery.
“The preferences of this generation are likely to influence the food and beverage segment for decades to come,” says Elisa Maloberti, the American Egg Board’s director of egg product marketing. “Their ethnic diversity, interest and affinity for global flavors are already asserting influence in the food and beverage market. And this will only grow as more of Gen Z leaves home and makes all their own food choices.”
The American Egg Board has released its latest white paper on Gen Z, which is just beginning to make its mark on food and beverage innovation. You can download the white paper at: https://bit.ly/2PFxe7Y