PART 3 Short Cases Case 1: Eating Patterns in America into higher income levels; today, however, the opposite is true Ho

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Part 3 Short Cases Case 1 Eating Patterns In America Into Higher Income Levels Today However The Opposite Is True Ho 1 (105.31 KiB) Viewed 34 times

PART 3 Short Cases Case 1: Eating Patterns in America into higher income levels; today, however, the opposite is true Household changes will shape the future of eating for years Declining or stagnant wager, coupled with a growing income to come. The typical U.S. consumer and the households in gap during the past 15 years, have resulted in many families which they live are very different from those of 20 years ago. slipping out of the middle class The changes are reflected across the spectrum of eating patterns If past trends continue, it's unlikely that recovery from the today who, what, when, where, how, and why. Great Recession will lead to a rebound in the share of adults in Single-person U.S. households are 38 million strong and middle-income households. Since the middle class has fueled growing the highest in history-This represents 55 percent spending on everything from housing to cars to food purchas- of all adult only households. The typical size of an American ing, a smaller middle class has a wide-ranging impact on the family is 25 persons per household, with more than one quarter economy. See Figure 1. with children headed by single moms. Smaller households, in This overview presents just a few of the changing con- many cases, are a long-term choice for adults choosing not to sumer dynamics that will shape the retail marketplace in the be married and/or have fewer children. This change has wide- future-both near and long term. Retailers need to be aware of ranging implications for retailers and manufacturers in terms of changes in consumer behaviors in order to modify their market- marketing, merchandising, new product development packag. ing tactics and strategies, and to meet the needs and wants of ing, and positioning today's consumers. By 2044, the U.S. Census Bureau projects that more than Questions one-half of Americans will be in a minority group, by 2060, nearly one in five of the total population is projected to be 1. According to the information in the case, how are American foreign-born. The Hispanic population has accounted for more demographics changing? than half of the 27-million U.S. population increase in the last 2. As a supermarket retailer, how would you address the rise decade. Hispanics currently represent 18 percent of the total in U.S. single-person households? U.S. population. Although Hispanics will continue to be a very 3. As a local gift shop, how would you address the rise of large and growing group. Asians are one of the fastest growing Hispanics in the United States? ethnic populations, currently representing 8 percent of the U.S. 4. What are the implications of Figure 1 for retailers? population 5. What demographic trends not mentioned in this case should retailers address? How? The Millennial generation is more diverse than the preced. ing generations, with 44 percent being part of a minority race Case 2: The Convenience Economy Comes of or ethnic group. Even more diverse than Millennials are the youngest Americans those younger than 5 years of age. In Age* 2014, this group became majority minority for the first time. Among the transformations on the retail landscape in the recent with 50 percent being part of a minority race or ethnic group past, perhaps none was more profound than proliferation of the The share of the U.S. population that is considered middle "convenience economy." in which everything is at the consum income has been shrinking over the last four decades. In the er's disposal at the click of a button, according to Chris Bryson. past, those in the middle-income group typically moved up CEO of Unata, a leading omnicommerce solutions provider. He Vio luct FIGURE 1 The share of adults who live in middle-income households has eroded over time from 61 percent The Shrinking ole In 1970 to 51 percent in 2013, according to a Pew Middle Class Research Center study Stagnant wages and a alay growing income gap during the past 15 years have Source: Based on material Faused many families to slip out of the middle class dow in Bonnie Riget, "Eating Patterns in America: The 1970 State of the Consumer" 61% Comenience Store News MIDDLE March 2016, pp. 58.60 Reprinted by permission 2013 late Convenience Store News 51% GOS (c) 2016(www.ew.com) DI Joia • Based on material in Bonnie Riggs. "Eating Patterns in America: The State of the Consumer," Comenience Store News, March 2016, pp. 58, 60. Reprinted by permission Convenience Store News (c) 2016 (www. Income . Based on material in Jim Dudlicek, "Fridge's Dare (The Convendes Economy Comes of Age). "Progressive Grocer February 2016.p.28 Reprinted by permission. Mit Eco