Presentation on theme: "Wendy Chan 2014 Summer Internship. 4 th year at UC Davis Managerial Economics Economics & Business Student Association UC Davis Office of Research, Student."— Presentation transcript:
4 th year at UC Davis Managerial Economics Economics & Business Student Association UC Davis Office of Research, Student Assistant Electric Marketing, Brand Representative University Transportation, Advertising Sales Representative
Millennials Safeway AGENDA Who?Merchandising Home Care Behaviors? Promotional Specialist Why? Purchases? Millennial Binder Just for U Email Blast Student Ambassadors Objective: What can Safeway do to connect with Millennials?
Matures Baby Boomers Generation X Millennials BY GENERATIONS 44-62 1952-1970 78 million 66+ 1948 or before 41 million 30-43 1971-1985 57 million 18-29 1985-1996 55 million
Who are they? Marry later Value social good/giving Self-Expressive Optimistic about the future More ethically/racially diverse More educated Socially active Entrepreneurs Characteristics
Who are they? Digitally Connected Share-ability Experience Peer Reviews Deal Shoppers
Source: Kantar Retail Typical Gen X/Boomer Path Typical Millennial Path leave home graduate college get a job buy a house get married start a family attend college move back home get a job rent with roommates move in with boyfriend/girlfriend get a dog Milestone Shift Traditional life transitions do not apply as widely as they once did. From linear to multi-dimensional.
Buying what & where? What? Natural | Organic | Ethnic | Unique Items fitting their demographics’ values Where? 109% likely than other demographics to buy groceries at convenience stores 3.7 different retailers for each product category
Why do they matter? Account for an annual $1.3 trillion of consumer spending. Fastest growing and largest presence in the marketplace with 80 million Millennials in the U.S alone. They are Safeway’s future shoppers By 2020, millennial spending in the U.S will grow to $1.4 trillion annual and represent 30% of total retail sales.
Sue Alton, Store Manager in Golden, Colorado Mike Gillette, Director Safeway Customer Service Center ONE STORE| 2 HOURS
10 STORES +$1 Million profits 185 STORES +$18.5 Million profits 1 STORE +$100, 350 profits
Next Steps Human Resource Consumer Brands Loyalty/Safeway Customer Service Marketing /Advertising Shopper Marketing/Consumer Insight
What can Safeway do to connect with Millennials? 1)Develop a deeper understanding of the Millennial consumer Millennial Binder 2) Improve existing tools Just for U the Millennial Email Blast 3) Creating and developing more opportunities/programs to maintain their loyalty and get ahead of the competition Student Ambassador Program
Thank You Linda Nordgren Brian Estabrook Bryan Leimbach Parker Lewis Kristina Sokukawa Ben Gosso Doug Ault Sybil Black James Radley Zachary Brown Mike Gillette David Stephenson Jamie Callow Maddie Redding Nicole Dehoney Jennifer Park Tami Tollefson Jeannette Rodriguez Michael Redgrave Tiffany Fan Jim Rocha Kristina D’Azevedo Rodney Marantan