Millennial Avocado Market Basket Study
HAB’s 2019 Millennial Avocado Market Basket study has received much interest and trade coverage since it’s release earlier in 2019. We are seeing just how important this marketing segment is for the avocado industry; Millennial shoppers are quickly becoming a driving force in the overall retail marketplace, and retailers and merchandisers are taking notice.
As Millennials enter the next stage of their lives, they’re starting families and expanding their purchasing power. As Millennial purchasing power grows, so does their appetite for fresh produce, specifically avocados.
But what else do these Millennial shoppers pick up when they are at the retail location and that avocado –or that bag of avocados– goes into their shopping cart? Well, it turns out that the majority of what goes into that basket is MORE PRODUCE, making these shoppers even MORE important to your retail produce buyers and merchandisers. It will be key for the retailer that you are calling to recognize how important the Millennial segment is – and how it can drive more purchases of the 11 other items that most frequently fall into their cart.
The chart below shows cross promotion opportunities; retailers would benefit from merchandising to these trends to help put even more produce into the carts of these incredibly important shoppers.
Top Trip Incidence Categories When Avocados are in the Basket (click the chart to enlarge)
Data Source: IRI Consumer NetworkTM 2018 (All figures are rounded)
*Affinity index measures which items were more likely to be found with avocados than was expected.
Some items to note:
- Eleven of the top 20 most often found items in the avocado market basket are fresh produce items.
- All items in the top 20 have strong affinity indexes, indicating that these items showed up in avocado market baskets significantly more often than was expected.
- Icons highlight the 10 categories in the top 20 that have the strongest affinity indexes, 9 of which were fresh produce categories.
So there you have it – Millennial avocado shoppers are picking up bananas, tomatoes, berries, lettuce and more, making them a high value segment – and sure fire reason to promote avocados even more!
Read the full Millennial Avocado Market Basket study part II and action guide
Other Happenings
Connecting with the U.S. Hispanic Market through Aguacates – Love One Today®
The U.S. Hispanic Market represents nearly 20% of the country’s population and has a purchasing power that is projected to exceed $2 trillion by 2025. Learn what Avocados – Love One Today® is doing to connect with this bicultural audience.
2024 Avocado Forum – Assessing The Future
Coming in October of 2024 the Hass Avocado Board (HAB) is going to be hosting an “Avocado Forum” entitled “Assessing the Future”.
Watch the HAB Webinar featuring the World Avocado Organization (WAO)
Join us on https://hassavocadoboard.com/webinars/ to view this extremely interesting webinar, and the attempt to help grow demand for fresh Hass avocados in the second largest market in the world, the EU 27 + U.K.
Updates & Resources
