Millennials (almost 30% of the world's population), also known as Generation Y, are the ones who have revolutionized the world of business and, by extension, branding. They have different attitudes and values, and they question everything. They are the generation of WHY.
They are the part of the population that will have the highest purchasing power in a few years, reaching the largest share of the workforce by 2030 and representing 40% of the global working-age population.
The unique characteristics of this generation (often mistaken for the unpredictable), together with the economic reality they represent, make Millennials the biggest challenge for today's brands. For business, marketing and branding people alike.
Next, we will see how they relate to brands and what is their relationship with them.
Millennials are looking for experiences
For them, the experience with the purchased product or service is very important, to the point that it is even more important than the product itself. However, they do not discount the quality and emphasize the uniqueness of the product.
Millennials often prefer local brands or those that are perfectly transparent, believing that they offer higher quality products, and usually when buying, they tend to focus on niche businesses that offer an interactive and unique shopping experience. They want to know what the products contain, who makes them and where the ingredients come from.
A special role here is played by packaging, which can communicate in an effective and attractive way all these assigned.
Millennials don't walk by half measures
They are much more careful about packaging design and know how to appreciate good design and packaging. But compared to other generations, regardless of the quality of the packaging, they will not be convinced if the product is not innovative and synchronized with the packaging, or does not live up to their standard in terms of quality. Conversely, a good product, but with unsuitable packaging for their needs, will not arouse their interest.
Millennials need to be surprised
They are naturally digital, they are active in social media, they know how to use technology naturally and they do it in a way multitasker. This means that their attention is harder to capture, but at the same time they can redistribute a message that is relevant to them in just a few minutes.
Therefore, the brands they interact with must be at least as active as they are (active attention, not just present) online and beyond. Must have an approach frescoAlways bring them something new.
Millennials Seek Authenticity
This generation tends to see products and brands as an extension of themselves, as helpers that allow them to develop their own personal brand.
They want products with a packaging design that has style, is authentic and unique in the category, but at the same time they are a generation sensitive to overpackaging.
In Part II of this article, you will learn6 best practices in packaging design aimed at millennials.