AMC 2016 Top 10

Midan_team_AMC_2016

As a team, Midan’s focus at AMC 2016 was to listen and learn.  We took pages and pages of notes, capturing stats, quotes and key findings.  Back at the office, we sifted through all the content and created our own long list of the most important takeaways.  Here’s what we think were the top 10.  If you were there, let us know if you agree.  If you didn’t attend, but have questions, please reach out – we love to share what we learned!

Midan’s AMC 2016 top 10 takeaways:

  1. Forget the focus on a certain protein or cut — it’s all about application 
    • Consumers don’t buy meat; they buy what they can do with it. 57% of raw meat is purchased with a specific recipe/application already in mind. Give them ideas on what to do with your product and they will buy it. (Jack Li, Dataessential, Consumer Trends Driving Meat Innovation)
  1. Retailers have the opportunity to convert Millennials at the meat case
    • When buying meat, 64% of Millennials are open to being influenced at the store: 90% do not list a brand when meat shopping, 32% plan meat purchases, but decide at the store, and 36% make the entire meat purchase decision in-store. (Larry Levin and Chris Dubois, IRI, “Meat”ing Millennials!)
  1. Corporate Social Responsibility (CSR) factors heavily in Millennial decision-making
    • 87% of Millennials think business success should be measured by more than financial performance; they want to work for and buy from companies who are doing good things for society. (Andrew Winston, The Big Pivot, Doing Business in a Hotter, Scarcer, More Open and Connected World [2016 Deloitte Millennial Survey])
  1. There is a dramatic increase in consumers’ concern about chemicals in their food 
    • 36% of consumers said it is the most important food safety issue they considered when shopping for food, up from 23% in 2014. (Janet Riley, NAMI, Turning Up the Heat: Confronting Current Challenges to Meat Nutrition and Safety)
  2. Don’t forget about Boomers; they are responsible for greater spend overall on meat
    • Boomers purchase from the meat department 5 times more per year than Millennials, driving $2.3 billion in incremental sales. 78 million Boomers hold 70% of the disposable income and account for 50% of CPG sales. (Sherry Frey & Mikael Nielsen, Nielson, Polarized Consumers are the New Norm)
  3. Retailers and packer/processors who embrace digital are winning loyal followers 
    • 70% of consumers who get a quick response from companies on social media are more likely to recommend that brand to others. (Art Yerecic & Kristin Yerecic, Yerecic Label, Connect with Consumers at the Speed of Technology)
  4. Consumers are moving from ethnic buckets to more specific foods 
    • Consumers today are more interested in specific food items and their associated flavors rather than cuisines: not Mexican, but tacos; not Italian, but Chicken Parmigiana.  Food trucks have helped this trend grow. (Jack Li, Dataessential, Consumer Trends Driving Meat Innovation)
  5. The argument against GMOs has shifted from the fear of consequences to “consumers have a right to know.”
    • With respect to GMOs, consumers favor product information disclosure: 68% would like labels to indicate if a product has GMOs, but in 2015 only 1 in 4 consumers (26%) indicated that they would buy products with a non-GMO label. (David Fikes, FMI, Addressing Consumer Concerns with GMOs)
  6. The steady “drip” of adverse health news erodes consumer confidence in meat
    • The meat industry must counteract this with a flow of facts that gives consumers permission to eat our products.  Check out http://meatpoultrynutrition.org/ for a wealth of science-based information that can help do this. (Janet Riley, NAMI , Turning Up the Heat: Confronting Current Challenges to Meat Nutrition and Safety)
  7. What consumers look for on nutrition labels is changing
    • Shoppers will be paying more attention to serving size, calories, carbohydrates, sugar content and iron, while focusing less on fat, calcium, cholesterol, sodium and vitamins. (David Portalatin, NPD, The State of the Meat Eater)

Comments

  1. Kenny M~ says:

    From the takeaway, if 87% of Millennials want to buy from companies who are doing good things for society (2016 Deloitte Millennial Survey) and 90% do not list a brand when meat shopping (IRI, “Meat”ing Millennials!), seems like an opportunity. What else do millennials want? Authenticity, transparency, as well as convenience and they want it communicated through digital sources (The Truth about Meat for Millennials, NAMI), seems like another opportunity. With meat consumption falling in recent years and millennials (some 80 million strong) about to outspend baby boomers in a few years, attacking the two opportunities looks like a win-win. Seems like the conference hit its objective with information. Look forward to reading about how you make the connection.

  2. Danette Amstein says:

    Thanks for your comment, Kenny. You bring up some great points that we actually plan to explore over the next few months. Stay tuned!

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