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David Sparks Ph.d Millenials and Beef
by David Sparks Ph.d, click here for bio

Program: Line on Agriculture
Date: December 24, 2018

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Millennials are the demographic cohort following Generation X. Researchers and commentators use birth years ranging from the early 1980s to the early 2000s. Some facts about millennials as consumers: By 2015, their annual spending is expected to be $2.45 trillion and by 2018, they will exclipse boomers in spending power at $3.39 trillion. 63% stay updated on brands through social networks. 46% count on social media when buying online. 41% of millennials have no landline at home and rely on their cellphones for communication. 48% say word-of-mouth influences their product purchases more than TV ads.

Expanding beef’s market share will require an understanding of Millennials. Bob Cervera reports. "There is no doubt that increased employment, increased discretionary income, yields increased protein purchases but will those proteins be red meat proteins? Ultimately if you are going to change consumer views, you are going to have clear views that you can share about your view towards food that aligns with the values that those millennial consumers have.” In terms of those views: 32% of Millennials say they don’t like advertising in general, compared to 37% of the general population.

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