What are the latest millennial buying trends. Millennials make up a considerable share of the market, yet many businesses fail to market to them appropriately. Millennials have a reasonably big reputation for being odd shoppers; it’s turned into more of a joke at this point with the older generations poking fun at them. Over time millennials will start poking fun at Gen Z for the same things. For now, though, it’s important not only to identify what millennial buying trends are but learn how to market to that specific demographic. This short article will outline some of the most impactful millennial buying trends so you, and your business, can grab your share of the market before your competition does.
What are the Latest Millennial Buying Trends?
Sugar-Free / Low Fat
Millennials make up the majority of adult shoppers, yet the market has failed to adapt to their dietary choices. Millennials don’t want fat; they don’t wish to sugar, they want to eat healthily. It’s important to clarify that this does not mean you need to try and market your product as some kind of healthy alternative because if that isn’t strictly true, you’ll run your business into the ground. What you need to be doing is focussing on creating and or selling sugar-free and low-fat products or alternatives to existing products. It’s socially and financially acceptable to charge a little more for low-fat, low sugar products, which means you may even see improvement in your profit margins.
Millennial Buying Trends- Energy Drinks
This suggestion immediately contradicts the previous one. Energy drinks are booming in popularity, marketing them at millennials and under is easy. If you look at Red Bull energy drinks and how quickly they have gorged themselves on the energy drink market, you will understand what I’m talking about. Millennials have the short end of the stick; wages are historically (and depressingly) low while costs are at an all-time high. This means people are expected to work more jobs, and for longer hours, this is exhausting and is not always possible without the help of some kind of caffeinated beverage. It could be coffee, but it’s most likely going to be energy drinks. Sugar-free energy drinks do exceptionally well, too.
What are the Latest Millennial Buying Trends?
Convenience is key:
Millennials are always on the go. What does that mean? It means they need products that are easy and convenient to consume. If you are selling a drink, it needs to be ready to go immediately, if you are marketing a health food it needs to be edible with no extra steps. One minute instant ramen isn’t good enough; it needs to be ready NOW. That’s why healthy nutrition bars are the way to go. Millennials care about healthy eating, so your chocolate bar isn’t going to cut it. Granola with dark chocolate, though? That’s the kind of product that millennials are after for their breakfast on the go or during their concise work break.
Be “Extra”:
It’s okay to be over the top with your product. This is especially true when you sell your product directly to the customer. A cafe that sells cute little cupcakes should be as over the top as possible. Why? Because millennials are obsessed with posting pictures of their food and drinks on social media. Your product needs to be “instagrammable.” Meaning, it needs to look good when they post it social media. And they will post it, that’s sort of their whole thing. The good news is you can charge SO MUCH more for the same product just for going a little over the top on frosting and sprinkles. This is a very superficial business model, but in today’s economic climate, you should do what works. And trust me, this works.
Activities – Market Memories:
This one is again very superficial, but you should be marketing activities that sound fun but, most importantly, look fun on social media when they post pictures. Millennials are looking for activities that create a memory, but the memory needs to be easily shareable. If they can’t show evidence of them being there, they may as well not be there at all. This is superficial, but that’s the way the modern world works, everything needs to be on social media. Whether it’s a status thing, to show off to friends, or just as a way of keeping track of what they’ve done and where they have been. Always keep in mind how photogenic your activity is. If you are selling a bungee jump experience, there needs to be a vast number of photo opportunities.
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