Millennials: Unbanked but bankable?

Packaged Facts is your trusted source for market research on the financial services industry. We cover topics ranging from financial services for small businesses to debit & credit cards to mobile payments. See our full catalog of related reports here.

June 27 - Survey analysis performed for Packaged Facts’ Underbanked and Unbanked Consumers report suggests a clear general trend away from having checking and savings accounts at traditional banking institutions even while consumers eschewing these accounts use banks for other products and services. This trend challenges the long-standing banking model that frames checking and savings accounts as the foundation for broader, deeper customer relationships.

Our research suggests that these “unbanked” consumers (those we define as having neither a checking nor a savings account) include those who have been underserved or shut out of traditional banking channels for financial reasons. 

Millennials get ready to bring up fur baby

See more Packaged Facts reports focused on Millennials here.

June 20 - The Millennial generation has become a driving force in the American pet industry.  Between 2007 and 2015, Millennials were responsible for 43% of the growth in the number of pet owners in the United States.  The 43 million pet owners in the 18- to 34-year-old age group now account for around one in three pet owners, according to Packaged Facts in the report Millennials as Pet Market Consumers.

Millennial consumers will play an even more significant role in the pet industry over the next decade.  The accelerating aging of the American population threatens to shift the consumer landscape for the pet industry because pet ownership traditionally has declined precipitously after the age of 60.  Although aging Boomers will still account for the largest share of growth in the population of pet owners, Millennials will play an increasingly vital role in the market for pet products and services.  According to Packaged Facts National Pet Owner Survey data, more than four in 10 (44%) Millennials don’t have a pet now but hope to have one in the future.  Packaged Facts projects that the Millennial generation will be responsible for adding 2.6 million pet owners between 2015 and 2020.  

The big reversal on GMO labeling

Packaged Facts delves deeper into this topic in the recent report Food Formulations: Ingredients Consumers Avoid. View the report abstract and table of contents here.

June 10 – Americans seem to have lost their trust in large institutions: government, banks, and corporations. By fighting against GMO labeling, the food industry may have given more credibility to the notion that something is wrong with GMO ingredients than the anti-GMO forces were able to do. The companies that spent hundreds of thousands of dollars fighting Prop 37 and the state-by-state efforts that followed might have done better for themselves with consumers by going along with GMO labeling four years ago when it would have seemed more credible for them to say, “GMOs are safe but we’re happy to give you what you want.”

Sweet savings on National Donut Day

June 3 – Packaged Facts is offering a sweet deal in honor of National Donut Day. Save 10% on the best-selling report Sweet Baked Goods: U.S. Market Trends through June 10.

Use promo code PFDONUT at checkout.                      

For information on Sweet Baked Goods: U.S. Market Trends, including the abstract and table of contents, visit:

Packaging innovations help sell foods and beverages

Save 10% on Food and Beverage Packaging Innovation in the U.S.: Consumer Perspectives with discount code PFFBPICP through July 1.

June 1 - Dramatic changes in demographics, lifestyles, and eating patterns are helping to drive packaging innovations. Among the mega-trends feeding into package development are changing population distribution, fewer married couples, more people living alone, smaller household size, and multi-generational households. These demographic shifts are leading to changes in household dynamics and eating behaviors, such as multi-shopper households, more meals being eaten alone, and snacking more often and on more occasions. Also changing is the balance between perishable foods merchandised in stores’ so-called “perimeter departments” vs. shelf-stable and frozen foods merchandised in the center-store aisles. Yet another influence is the rise in smaller-footprint stores.

What we’re reading: Academy of Science finds GMOs not harmful to human health, reports USA Today

Packaged Facts covers the GMO market in our 2015 report Non-GMO Foods: U.S. and Global Market Perspective, 2nd Edition. For a limited time save 10% on the report with discount code GMOFACTSUSA.

May 18 - Genetically engineered crops are safe for humans and animals to eat and have not caused increases in cancer, obesity, gastrointestinal illnesses, kidney disease, autism or allergies, an exhaustive report from the National Academies of Science released Tuesday found.

Work on the 388-page report began two years ago and was conducted by a committee of more than 50 scientists, researchers and agricultural and industry experts convened by the National Academies of Sciences, Engineering, and Medicine. It reviewed more than 900 studies and data covering the 20 years since genetically modified crops were first introduced.

Read more from USA Today at:

Download slides: “Consumer Market Opportunities in Protein” from the 2016 Protein Trends & Technologies Seminar

Packaged Facts offers two reports focused on protein: Meat and Poultry: U.S. Retail Market Trends and Opportunities and Food Formulation and Ingredient Trends: Plant Proteins.  

May 16 - Why are consumers turning to high-protein foods? A new free presentation from Packaged Facts presents answers through an assortment of data- and analysis-rich slides.

The slides were originally included in a speech given by Packaged Facts’ research director David Sprinkle at the 2016 Protein Trends & Technologies Seminar. 

Click here to visit the download page.

Chew on this: New flea & tick medications give pets something to sink teeth into

Stay in the know this flea and tick season. Purchase Pet Medications in the U.S., 4th Edition and save 10% through June 3 with promo code PFSAPD2016.

May 10 – Flea and tick products have undergone an upheaval of sorts in recent years. The latest trend has been prescription chewables, now becoming a favorite among veterinarians and pet owners alike, as they are considered easier to administer than topicals. Merial introduced Nexgard in late 2013, and it has since driven Merial’s growth, becoming the company’s third largest product in 2015. Nexgard is picking up the slack from the Frontline family of topical flea & tick products, which went off patent and has been trying to defend its market share against an onslaught of generics.

Also new in the chewable flea and tick world is Merck’s Bravecto. Merck said Bravecto was accounting for the majority of growth in its animal health division (along with swine products). Now in on the action is a new chewable from Zoetis – Simparica – which received FDA approval last month. Next on the U.S. horizon could chewables that combine flea/tick and heartworm control. Merial launched one – Nexgard Spectra – in Europe in 2015. Zoetis is also said to be working on such a solution, but it’s still a couple of years away.

What we’re reading: Record attendance set at Petfood Forum 2016

May 6 – The 2016 Petfood Forum was a rousing success as attendance swelled to record numbers.

Popular opinion attributes the increase to the successful strategic relocation of the forum to Kansas City, which placed attendees and exhibitors directly in the center of the animal health corridor. Naturally, we at Packaged Facts like to believe that the irresistible draw of a presentation by our very own David Sprinkle was the real X-factor. 

Mr. Sprinkle presented on high-protein trends in the pet food segment, with research and data cultivated from Packaged Facts’ recently released report, Pet Food in the U.S., 12th Edition.

To read the full article recapping Petfood Forum 2016 click here.

From poultry to plants, Packaged Facts’ May 4 presentation covers U.S. protein market

For more information on the Protein Trends & Technologies Seminar, or to register, click here.

May 2 — Protein is one of the most prominent and prevalent food industry buzzwords driving sales across both the retail and foodservice landscape. From meat and poultry classics to new and “better-for-you” meat alternatives, consumers are seeking out protein in all its forms.

Just as important, protein’s high profile image over the last few years has resulted in more consumers associating this macronutrient with providing a source of energy, helping with weight management, promoting satiety or a feeling of fullness and building muscle mass and strength.  As Packaged Facts’ research director David Sprinkle points out, “America undoubtedly has a love affair with proteins, and it makes sense. Generally speaking, protein benefits from being associated with positive health benefits and as a result has remained at the forefront of consumer consciousness when grocery shopping, meal planning, or ordering out.”

Mr. Sprinkle’s expertise on the subject of proteins will be on full display during the 2016 Protein Trends & Technologies Seminar, which is being held at the DoubleTree-Hilton in Oak Brook, Illinois beginning May 3.  Mr. Sprinkle will present from 8:15 am-9:00 am CDT on May 4.  


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