People want better food and companies want Chipotle-like growth. But wanting something better and wanting to pay for something better are two very different things. Or are they?
A full 88 percent of consumers say they're willing to pay a premium to some degree for foods with healthy attributes, according to Nielsen's online poll of 30,000 people in 60 countries.
Interestingly, readiness to shell out declines with age. Consumers under 20 and millennials 21 to 34 years old are most inclined to pay more.
"While age often dictates a need for foods that contain certain health attributes, it is the youngest consumers who are most willing to back up their sentiments with their wallets," said Susan Dunn, Nielsen's executive vice president of global professional services, in a release. "As Millennials' purchasing power increases, manufacturers and retailers that make the effort to understand and connect with this generation's needs increase their odds of success."Read the Full Article