I don’t know about you, but I love snacks. And I’m certainly not alone - with the category achieving about $375 Billion worldwide.
Now, I raise the topic of snacking on m.Lab because it’s emerged as a contested category with many fighting for the Millennial snack share of mind & wallet. Some common related storylines – decreased fast food occasions, increased fast casual occasions, growing organic/natural category, children’s snack selection, on-the-go culture, health & fitness activities, etc.
And as Mintel reports, Millennials are really starting to dominate the snack market. “Millennials are significantly more likely to snack compared to older consumers with 24% of Millennials most likely to snack frequently, four or more times per day, and 23% snacking more this year compared to last year. Mintel research also shows that the Millennial generation “snacks for function and to stay focused throughout the day with 39% snacking for energy.”
Some thoughts and opportunities for targeting Millennials:
- If you think you are in the snack category, get your Millennial marketing strategy in order
- Search out opportunities for trial
- Consumers like snacks to stick to the basics
- Find the balance in highlighting the taste and health considerations.
- Snacks are a meal replacement for Millennials.
- Women consume more snacks than men. Are you reaching Millennial women?