A new report by IRI, details how the consumer packaged good industry is poised to grow as the Boomers generation gets older. The study evaluated three different Boomer groups shopping habits, the groups were broken up into: Truman (53-62), Kennedy (44-52), and LBJ (34-43).
Some of the findings include:
- 66% of Trumans purchased store brands
- 83% of Trumans gave store brands “excellent” quality ratings
- 70% of Kennedy Boomers gave store brands “excellent” quality ratings
- 73% of LBJ Boomers gave store brands “excellent” quality ratings
- Top private label products for Trumans are nuts/seeds/corn nuts, ice cream and chocolate candy
IRI believes that the Boomer group represents a $50 billion growth opportunity for consumer packaged goods companies in the future.
For more on this report, go to: http://www.brandweek.com/bw/content_display/news-and-features/direct/e3id7516b3f87ca901dfd066b2394569a67