Let’s face it, millennials are an elusive bunch with mass appeal. Roughly 80 million strong, this digitally-savvy, culturally-diverse group is poised to transform nearly every facet of the U.S. economy. Spending nearly $600 billion a year in the U.S. alone, Gen Y continues to alter how businesses operate, affecting the ways we buy and sell. And today, it’s the frozen food industry that’s reaping the benefits of the millennial dollar.
Very soon, the noshing will commence as Americans tune-in to one of the most highly anticipated sporting events of the year – the Super Bowl. As fans, true and fair weather alike gather to watch the New England Patriots take on the Philadelphia Eagles, the National Retail Federation and Prosper Insights & Analytics reports that in 2018, consumer spending for the Super Bowl is predicted to be up 8.5 % year over year.
Over the past 5 decades, the amount of time Americans spend preparing meals has steadily declined, yet U.S. frozen foods have remained a favorable staple, forecast to reach $72.98 billion by 2024, according to a recent study by Grand View Research.
Topics: frozen food