For example, the retail market basket analysis shows that shoppers spend +65% more in-store overall when avocados are in the basket; and millennial shoppers spend +73% more in-store overall when avocados are in the basket.
"The study, based on IRI household panel data*, yields actionable insights into how high-value shoppers, such as millennials, are driving the category by purchasing avocados more frequently and spending more each time," explains Emiliano Escobedo, executive director of the Hass Avocado Board. "Equally as interesting is how regional segmentation sheds light on areas that may be poised to deliver the next big wave of category growth."
When viewing information on total U.S. households, the study found that over half of U.S. households purchase avocados with an average of 33 days between purchases. On average, shoppers purchase avocados six times per year and spend $3.49 per purchase. This equates to an annual avocado dollar spend of $20.76 per household.
Retailers benefit in many ways from the robust avocado category. Shoppers spend more in-store overall when avocados are in the basket--the average retail market basket with avocados is +65% greater than baskets without avocados. The value of the basket is $68 with avocados and $54 without avocados.
The study offers in-depth insight into various consumer groups and geographic regions:
- Millennial Avocado Buyers-- Millennial households are more likely to buy avocados and spend more on avocados than non-millennials. Millennials spend +22% more per occasion. Millennial baskets with avocados are $76.36, which is +$8.74 above the average basket with avocados and +$10.08 greater than non-millennial baskets with avocados.
- Bulk + Bagged Avocado Buyers-- Buyers who purchase both Bulk and Bagged avocados spend more each year and purchase more frequently than Bulk Only and Bagged Only buyers. Bagged Only buyers have the highest avocado market basket at $137.93; "Both" Buyers also drive a higher-than-average avocado basket at $81.22; and the avocado market basket for Bulk Only buyers is slightly below the average at $61.57.
- Avocado Buyers in Geographic Regions-- The retail market basket with avocados in Emerging Regions (Aggregate of Midsouth, Great Lakes, Northeast, Plains and Southeast) is higher than in Developed Regions (Aggregate of California, West and South Central). Emerging Region baskets with avocados are $69.11, which is +$1.49 above the national average for baskets with avocados and +$2.92 greater than Developed Regions. However, the annual avocado spend is increasing at a faster rate in the Emerging regions.