bridging the generation gap: marketing to millennials
TRANSCRIPT
THE BATON HAS BEEN PASSED Millennials are now the largest and most powerful group of consumers, but their preferences and purchase drivers are more complex than those of previous generations.
TO WIN MILLENNIALS’ BUSINESS AND CAPITALIZE ON THEIR RISING PURCHASE POWER, MARKETERS MUST
LEARN TO INTERPRET A WEALTH OF CONFOUNDING DATA AND NAVIGATE FOUR MAJOR APPARENT PARADOXES.
1 IN 3 millennials agree it’s worth
sacrificing taste for healthier food and beverage products.
1 IN 4 millennials say they don’t have time to think about the sweetening ingredients
in food and beverage products.
PARADOX #1SOME MILLENNIALS APPEAR TO BE HEALTH-CONSCIOUS, WHILE OTHERS HAVE A CAREFREE ATTITUDE.
PARADOX #2MILLENNIALS ARE APPARENTLY MOTIVATED BY BOTH NOSTALGIA AND A DESIRE TO EMBRACE NEW EXPERIENCES.
of millennials can’t always afford the food and beverage
products they’d like to buy.
of millennials say it’s worth it to pay more for food and beverage products that are “better for you.”
PARADOX #3THOUGH MILLENNIALS HAVE TIGHTER BUDGETS THAN OLDER GENERATIONS, THEY SAY THEY’RE WILLING TO PAY MORE FOR PRODUCTS THEY VALUE.
40% 40% of millennials shop two to three times per week.
of millennials rate quantity/availability in bulk as a very important purchase driver.
PARADOX #4MILLENNIALS SHOP FOR FOOD MORE FREQUENTLY THAN OLDER GENERATIONS, BUT THEY ALSO LOVE TO STOCK UP ON FOOD SOLD IN BULK QUANTITIES.
MARKETING TO MILLENNIALS MEANS RETHINKING A LOT OF STANDARD ASSUMPTIONS ABOUT HOW
CONSUMERS SHOP AND WHAT MOTIVATES THEIR PURCHASE DECISIONS.
BY TAKING A CLOSER LOOK AT THE DATA, YOU CAN FIND THE SWEET SPOT OF THESE APPARENT CONTRADICTIONS AND ANSWER SOME OF THE QUESTIONS THEY PRESENT.
DIG DEEPER
EXAMINE THE LATEST RESEARCH AND GAIN INSIGHTS INTO THE COMPLEX AND UNIQUE PREFERENCES OF THESE VITALLY IMPORTANT CONSUMERS WHEN YOU READ “MILLENNIALS: IT’S COMPLICATED.”
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