Information coming out from newer surveys is painting a picture of today’s Millennial that is a bit different from how Millennials have been described in the recent past. Often described as the lazy, narcissistic, tech introverts; more current data is showing they’re not so different from the population as a whole when it comes to retail spending. And that as we’d suspect, their perceived failure to launch into the traditional timeframe for life markers like marriage and kids, have impacted some key spending categories like real estate and transportation; but have also buoyed retail categories like travel and entertainment. 30’s are the new 20’s!Read More
Men are spending more time in the kitchen than ever before! Reported in a recent BLS American Time Use survey that about 43% of American men are cooking these days, which is the highest percentage in the past three decades. This trend is greatly influenced by more Millennials spending time in the kitchen.Read More
Recently, I came across a report titled “Reaching Consumers during the Purchase Process.” The study, conducted by Starcom MediaVest, basically looked to identify and attribute the impact of various media types in the purchase process, to help advertisers hone in on the most opportune times when consumers are receptive to particular messages, and what sequence of media channels should be used. Very heady stuff!Read More
As we enter the Holiday season, we wanted to highlight some Millennial trends and information for some upcoming holidays...
Let’s start with Halloween. It’s for the younger kids, right? Little trick-or-treaters in their fun and frightening costumes, going door to door loading up for that week-long sugar-high. Well, yes – but what about those Millennials? They have a love for Halloween that can rival your gradeschooler. In an article from The m/Age 30% of consumers engage in online research for Halloween costume inspiration. And the NRF estimates that 23% of millennials will wear costumes inspired by celebrities, TV shows and movies. They’ll be dropping serious dough for that one-of-a-kind costume and Halloween party.Read More
I don’t know about you, but I love snacks. And I’m certainly not alone - with the category achieving about $375 Billion worldwide.Read More
I saw this article the other day in QSR Magazine – Down to a Science: Wendy’s, Dairy Queen open R&D labs to test new, Millennial-forward ideas – and it was just a nice little reminder of the importance of stopping down every once in a while to listen to your Millennial customers. They are often the driver of innovation in your category and they can keep you ahead of shifting trends and interests. Best of all – they love to share and aren’t afraid of giving you the no-bull feedback you deserve.Read More
If you’re curious as to some of the nuances of being a Millennial, here’s an intriguing new look from Money at where this generation differentiates from X’ers and Boomers – ‘10 Things Millennials Buy Far More Often Than Everyone Else’. Following are a look at 4 of the 10.Read More
In a recent DMNews article – a representative of Ribera del Duero y Rueda spoke to the 5 R’s they used in developing their campaign to target the growing Millennial wine drinker. Like a lot of advertisers before them, they struggled to ‘define Millennials’, and came to realize that they couldn’t box them into one neatly packaged consumer type. They knew though that they are open to new and unique experiences and crave authenticity and information. All areas the wine industry has in spades – history of the growing regions, grape varietals, the wine makers and their processes. All this helps to further a connection with the consumer and embed channels of further engagement.Read More
Historically, shopping duties primarily fell on mom’s plate, but times are a-changin’. In a number of recent studies, we’ve seen more and more Millennial dad’s sharing what have been traditional ‘mom roles.’ Via AdAge – “according to Mintel, 80% of millennial dads claim primary or shared grocery shopping responsibility (compared to 45% of all dads, according to Y&R’s BrandAsset Valuator data).” Whirlpool is certainly keeping track of this trend – launching a new commercial focused on dad’s household and family duties. But we shouldn’t be surprised – the rise of the working woman would necessitate dad’s to take more of the household chore role.Read More
If you're managing a food or beverage product/service, a new study from Eventbrite reminds us of the power of in-person experiences to engage the Millennial consumer. From their survey, 60% of Millennials say they will purchase a food or wine they enjoyed at an event again in the future. And for beer, 82% say they will frequently or always purchase a beer they loved from the event later at a local retailer. And don't forget the social influence these folks have. 99% say that they are likelyRead More
Reported by MarketWatch Spending at restaurants, as measured by the Commerce Department's Retail Report, shows annualized sales rose to a seasonally adjusted 13.7% from September to January. That?s the strongest five-month stretch since December 2006, and a level only exceeded in the past 25 years in mid-1994 and late 1992. And while Millennials have continued to cut back on restaurant visits since the recession, making 33 fewer visits per person in 2014 vs. 2007, they still account forRead More
In a recent NPD report, Millennials were shown to be spending more time in the kitchen preparing fresh meals. According to NPD's National Eating Trends, Millennials consumed 8 more meals at home over the last year, while all other generational groups decreased the number of meals consumed at home by 1.Read More
The Fast Casual insurgence is getting a lot of attention from players in both the trade and consumer publishing realm. With reports like Brand Key's/FastCasual.com - "Millennials reported a 20% decrease in visits to QSR chains. Conversely, 42% increased visits to fast casual restaurants in the past year." There is no doubt why it's such a popular topic. A great majority of this groundswell towards Fast Casual is led by Gen Y. In a recent Piper Jaffray Semi Annual Report, Teens were reported spending 20% of their money on food, up from 15% 10 years ago.Read More
(Photo: Andi_Graf/Pixabay) An October 2014 Piper Jaffray report reported that Teens are spending 20% of their money on food, up from 15% 10 years ago. Meanwhile, their clothing budgets have shrunk, but still remain slightly above food at 21%. Is this the impact of increased visits to fast casual restaurants, and value put on Fresh/Organic/Natural/Vegetarian foods? They all probably have a hand at this shift. If Wendy's recent Image Activation is any indication, QSR restaurants are quickly adapting to try and be a spot teens and millennials want to be seen and hang out... and spend money. And for the decrease in clothing expenditure, well the downturn in mall traffic amongst teens isn't a help. Quartz reports from the same Piper Jaffray report, that mall traffic has dropped 30% over the last decade. And low-priced Fast Fashion players like H&M, Zara and Forever 21 have grown to command market share. And to top it off, the money for that higher quality, higher priced food has to come from somewhere. View more from Business Insider, Piper Jaffray, and Quartz.