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Aging Baby Boomers and Millennials, those born between 1982 and 2001, will have a major impact on the grocery store industry over the next several years.

According to a new study by Jefferies, a global investment bank, and AlixPartners, a global business advisory firm, changing demographics, economic factors and customer preferences have the potential to create a long-term disruption in the food-industry value chain that transforms where and how consumers shop for groceries as well as what products they choose.

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