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.

As the Baby Boomers retire and change their spending patterns, the Millennials will be stepping up to the plate, but research shows they are less likely to shop at traditional grocery stores and they are not as loyal to product brands.

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