What the beef consumer of the future will be willing to spend money on

A 42-year-old with a hybrid work set-up, who takes ice baths, googles sustainability, shops online, mixes travel with work and is willing to pay more for less if it's higher value.

And he or she could well be a part-time vegan.

Amanda Stevens, a brands and marketing consultant described as a consumer futurist, was a keynote speaker at the 2024 Zanda McDonald Award Impact Summit, held in Queenstown, New Zealand, this month.

She provided a rundown on the latest consumer buying behaviour research with a particular focus on what that might mean for those in the beef and sheepmeat business.

"In the past four years, we've seen the biggest shifts in consumer behaviour witnessed in decades - much of it coming out of the pandemic," she said.

"There is some incredible opportunity in that."

The first big change was in how we all worked - the notion of forced agility, according to Ms Stevens.

"Organisations are now going to a hybrid working model on a permanent basis and that is having implications on retail," she said.

Peak times for food shopping has changed dramatically.

Equally, the more blended nature of personal and professional lives has given rise to "more authentic" conversations.

Then there is the rise of millennials. This demographic cohort now accounts for the largest portion. They've overtaken baby boomers by 0.1pc.

"The 42-year-old is where it's at. Their needs are changing the fastest and they are the most educated consumer on the planet we've ever seen," Ms Stevens said.

At the same time, everyone is spending far more time online.

"Digital was already on an upward trend but Covid came along and turbocharged that," Ms Stevens said.

"Between 7 and 10pc of the total population made their first online purchase in 2020."

Meanwhile, more and more people are dialing into wellness - that is an industry absolutely surging.

"Linked to this is veganism being no longer binary and the concept of being vegan but eating meat on some days," Ms Stevens said.

Interestingly, time has become one of the most valued commodities.

"For example, meal kit delivery - something that didn't even exist 15 years ago - is surging," she said.

"One trend that came out of the pandemic that seemed counter-intuitive was perceptions around quality.

"What consumers are now telling us is they are prepared to pay more but buy less. It's applied across all categories, from food to luxury goods.

"Overlaying that is sustainability. In the past 12 months google searches relating to sustainability have increased 38pc.

"And people are mixing travel with work more - extending their overseas holidays and working while there."

All of this is feeding into an evolving make-up of the typical beef consumer; but what does that mean for those in the business of marketing beef?

Ms Stevens spoke about the concept of commonality being the new platform for trust.

"Linger in curiosity, ask questions of your consumer," she said.

"It leads to different outcomes and strengthens connections.

"Consumers in the future will do business with people, brands and places that they have something in common with.

"We gravitate subconsciously to those we have something in common with because it makes us feel safe."

Being able to dial into that thinking would be critical to the successful marketing of beef in the years to come, Ms Stevens believes.