With the festive season coming on, brands and retailers are focusing increasingly on the Millennials and Generation Z respectively. Marketers and advertisers have found that consumer spending and shopper power has steadily been shifting towards the younger generations and away from older folks, like Gen Xers.
Consumer trends consultants acknowledge the young generations’ desire for greater convenience in eating, due to busy schedules for work and school, with smaller meals and snacks replacing traditional sit-down eating occasions.
But while the young generations have embraced online shopping, the youths still express an appreciation for the in-store experience. To some grocery shopping is “relaxing,” while others say that it’s “easier to try new things in person.”
Other revelations: In choosing brands or products, with prices being comparable, the young generations select items from companies known for being socially or environmentally responsible; packaging is also a purchase influencer. As consumers, these young generations are looking for products and services that mesh with their personal values and identities, including health, communication, consistency, independence and self-improvement.
Going into the festival season, the concerns of the young generations – the most important customer demographic today – should be duly noted and acted upon by brands and retailers.