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NEW YORK The outlook for the consumer packaged-goods industry gets better with age, according to a report from IRI.
While other segments have struggled, the recession has not played a huge a role in baby-boomer food-purchasing decisions. More than three-quarters of the group, born between 1946-64, maintained their spending on necessity items, and 85 percent continued to make unplanned purchases. This makes the group, which represents half of all total U.S. spending, a $50 billion growth opportunity for consumer packaged-goods companies, per the report.
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