Millennials driving rise in convenience store sales
Convenience store sales are on the rise with the sector expected to grow by 22% in the next five years. Millennials are not only responsible for this incredible rise but also for influencing convenience store owners to change their offering.
Millennials have grown up being able to get what they want with the convenience of the click of a mouse or the tap of a phone screen. Whether it is streaming the latest box set, seeing a bikini they like on Love Island and being able to source and order it for next day delivery or using Amazon Prime’s two-hour delivery to shop for essentials without getting out of their pyjamas; the on-demand culture is ever present.
Speed and ease of shopping are key factors in decision making when every second counts for the on-demand generation.
With prohibitive car insurance costs, the increased reliability of local transport and the huge increase in cyclists, millennials have become less reliant on cars than the generation before them.
It is no wonder that they now do their food and grocery shopping in convenience stores on a more regular basis with 25.3% of 25-34-year-olds saying that they do their weekly shop in a convenience store.
Younger generations are always seen as frivolous with their money however with the increase in student debt, and the difficulty in getting on the housing ladder, they have learned to live within their means and only treat themselves when a product is quality and value for money.
Convenience stores have changed from charging a premium for standard goods to the desperate shopper to providing high quality goods at reasonable prices to those that shop little and often.
Social media influencing buying decisions
Social media is driving the instant gratification of the on-demand culture and millennials are far more likely to be influenced by a well shot picture on Instagram than they are by an expensive TV advert.
Anyone with Twitter can’t fail to have seen numerous photos of millennials in their Fiat 500 with a slush drink.
If they see something they like, they want to be able to buy it there and then and convenience store owners have learned to cash in on this trend by stocking more niche products than they have done before.
Millennials are a lot more adventurous and open to new experiences and are constantly on the lookout for new exciting products whether it is the latest artisan bread or handmade gift card.. They have embraced the iced beverage market and when new products arrive, such as SnowShock’s Frappino Iced Coffee, they are keen to try it.
Whilst they are always the first to try new products, they also demand quality and have a social conscience, so they look for ingredients such as Fair-Trade Arabica beans in the award winning Frappino Iced Coffee.
To connect with the ever increasingly savvy millennial shopper, contact SnowShock today to get your very own Frappino Iced Coffee machine.