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Marketing Trends and the New New Consumer Our Agenda Today

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Marketing Trends and the New New Consumer Our Agenda Today MARKETING TRENDS AND THE NEW NEW CONSUMER OUR AGENDA TODAY THE NEW CONSUMER Millennials THE NEW NEW CONSUMER Gen Z HOW FOODS GET FAMOUS TODAY PEANUTS HAVE A PROUD PAST PEANUTS HAVE A BRIGHT FUTURE WE HAVE THE BEST JOB IN THE WORLD MILLENNIALS SO FAR SO GOOD The % of Millennials recommending peanuts or peanut butter has increased significantly since 2015 ― and is significantly higher than the rate of recommendations among the General Market. In 2018, peanuts are the preferred nut among Millennials. Millennials have a better impression of and are more likely to recommend peanuts/peanut butter to others (vs. the General Market) in 2018. G E N Z THE GENERATIONS DEFINED SOME QUICK STATS MILLENNIALS GEN Z Population: 73 million Population Size: 66.5 million Age: 23-38 in 2019 Age: 7-22 in 2019 Diversity: 44% multicultural Diversity: 48% multicultural Buying Power: $2.8 trillion Buying Power: $143.2 billion Married/Partnered: 57% Parents: 43% LET’S LOOK AT MILLENNIALS FOOD & FAVORITE BRANDS WHEN IT COMES TO FOOD, MILLENNIALS… SEEK OUT HEALTHY INVENTED INSTAGRAM FOOD PHOTOS EAT OUT MORE FAST. FRESH. FREE. SUMMONING A CAR WITH A PUSH OF A BUTTON GENERATION BINGE TO APPEAL TO MILLENNIALS… BE FAST & EASY GIVE ‘EM WHAT THEY WANT BE A LITTLE IRREVERENT LET’S LOOK AT GEN Z FOOD & FAVORITE BRANDS WHEN IT COMES TO GEN Z AND FOOD… IT’S OKAY TO BE LESS HEALTHY THEY ARE EATING WITH THEIR VALUES THEY WANT PORTABLE PORTIONS Y O U T U B E I S A CONNECTION MARVEL DELIVERS NEW KINDS OF HEROES SNAPCHAT IS CONSTANT CONNECTION TO APPEAL TO GEN Z… THEY VALUE CONNECTION “BEING YOURSELF” IS IMPORTANT MAKE THEM FEEL SEEN & RESPECTED MILLENNIALS & GEN Z ARE DIFFERENT IN SOME WAYS… MILLENNIALS GEN Z Grew up on the internet Grew up on social platforms All about experiences All about uniqueness Celebrity culture Real people/influencer culture Seeking work/life balance Entrepreneurial More brand loyal Less brand loyal Watch Hulu & Netflix Co-create & livestream Stressed by choice overload Stressed by phone separation anxiety 12-second attention span 8-second attention span …BUT THEY SHARE SEVERAL QUALITIES AS WELL AND HERE IS WHAT WE’LL KEEP IN MIND MOVING FORWARD Love new flavors and cuisines, especially local, regional, and international Most diverse, multi-cultural generations of all time Fast, easy, and “my way” are always the expectations Transparency is a necessity, not an option Authenticity above all else Food is more than sustenance – it is a form of self-expression HOW & WHY TWO FOODS GOT FAMOUS AVOCADO TOAST INVADED POP CULTURE AND HAS STOOD THE TEST OF TIME OVER TIME AVOCADOS WENT FROM “TRENDY” TO “THE OFFICIAL FOOD OF MILLENNIALS” IN 2014, AMERICANS WERE SPENDING $17K A MONTH ON AVOCADO TOAST. BY 2017, THAT NUMBER JUMPED TO $900K A MONTH GREAT MOMENTS IN AVOCADO TOAST HISTORY THE HOW 1993 First recorded menu sighting in Sydney, Australia 1999 First avocado toast recipe online: UK chef suggests smashing avocados on toast 2006 (Guardian Newspaper) Australian chef puts avocado toast on menu at NYC restaurant (Café Gitane) 2008 Popular food blog, the Kitchn, posts recreation of Café Gitane’s 2013 recipe Gwyneth Paltrow includes a recipe for avocado toast in her cookbook, “It’s All Good” 2016 #Avocadotoast has over 100,000 posts and counting on Instagram READING BETWEEN THE LINES: THE WHY AVOCADO TOAST IS: MARKETING & PR HELPED TO: BOTH healthy & indulgent Tell the “good fat” health story BOTH simple & complex Leverage “local” and “farm to table” trends BOTH familiar & new Reposition avocados from “dip” to “premium” item Instagrammable Work with influencers and registered Beloved by influencers of all kinds dietitians Develop recipes to expand usage occasions (esp. breakfast) HARD SELTZER: A FANTASTIC TREND TALE A GREAT IDEA, NAILING SO MANY TRENDS THE METEORIC RISE OF HARD SELTZER THE HOW 2012 Nick Shields invents a new alcoholic beverage after a lightbulb moment 2013 SpikedSeltzer debuts and does very well on a modest scale 2016 Acquired by Anheuser-Busch, relaunched in all 50 states as Bon & Viv’s Spiked Seltzer Dozens of hard seltzer brands are born 2018 Hard seltzer estimated as a $500 million category and growing 2019 First Super Bowl Ad for Bon & Viv’s Spiked Seltzer WHITE SPACE AND TRENDS: THE WHY HARD SELTZER IS: HARD SELTZER IS HITTING TRENDS: A simple, fantastic idea that had Health & Wellness married with Better- never been done before – light For-You alcohol bubbly booze in a can Sessionability BOTH healthy & indulgent Flavor extensions in alcohol BOTH simple & complex Convenience BOTH familiar & new Portability Instagrammable (from the packaging to the people) Beloved by young, health-focused influencers HOW WE CONTINUE TO MAKE PEANUTS RELEVANT Embrace trends where it feels authentic Ride the line: healthy & indulgent, simple & complex, familiar & new Work with the right influencers, from social media to healthcare professionals Be Instagrammable…it’s where food lives for Millennials & Gen Z OUR FUTURE IS BRIGHT MILLENNIALS PEANUTS GEN Z WE’RE EXCITED ABOUT THE FUTURE. THANK YOU.
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