Article provided by: Consolidated Strategy Group
It’s no wonder that millennials are a key consumer target for many brands due to their immense buying power. In fact, the millennial population has risen over the years. This present generation now represents a consumer base with more than $600 billion in annual purchases. However, millennials’ buying power is predicted to reach $1.4 trillion annually by 2020 and $11.3 trillion by 2030.
Millennials now dominate the global market because they’re well connected, they know when a brand isn’t delivering on its promise or when a product is inferior. Using social media, the millennial can identify product alternatives, and they don’t hesitate to try them. To win the hearts of millennial shoppers, you must first win their eyes. Therefore, creating innovative packaging that appeals to millennials can be the key to winning over the next Gen.
How Are Millennials Spending Their Time?
The average millennial spends about 18 hours consuming media content across multiple platforms in a day. Due to this, the millennial attention span has reduced down to about 5 seconds, but this diminished attention span doesn’t imply that the generation is less intelligent.
They’re being bombarded with constant content and have become extremely selective in choosing what grabs their attention. This means product packaging that will attract the millennials must provide appropriate information about the product, and have a better packaging design.
How To Grab Millennials Attention
- Brand loyalty and emotional connections
According to a study, 60% of millennials said they are always or often loyal to brands and want to develop an emotional connection with the companies they spend their money on. However, millennials consider the following thing before they decide to become loyal to a specific brand.
- Do I have easy access to the brand?
- Does the brand fit my lifestyle?
- Does the brand have an online presence?
- What does the brand say about me?
- Flexible packaging
Millennials require products with flexible packing that they can easily take along because they are always on the go. Looking good and feeling good is also their top priority. Millennials love great looking pouches and well-designed packaging. So, if you want to sell your goods to Millennials, you must evolve your product packaging.
- Digital packaging
Product packaging needs to be engaging in addition to products that fit active lifestyles. Anything targeted toward Millennials must be fun, energetic, and alive if you want to capture their attention and brand loyalty. Many companies are taking a step further and implementing scannable QR codes to outlets so they can interact directly with consumers.
- Less advertising
Most millennials turn to different business pages when trying to make decisions since they spend most of their time on social media. This behavior is taking place; they are less drawn to advertising than previous generations because they have seen so many ads for product and brand information before, which means that product packaging now serves a higher purpose. Good product packaging should communicate product uses, benefits, and nutritional information all in one glance.
Keeping Up With The Millennial Pace
The Millennials generation demands more from brands when it comes to products and packaging. Brands can keep up with millennials pace by understanding their influence and designing the right packaging solutions. However, you can contact the Consolidated Strategy Group if you need the right packaging solutions.
At Consolidated Strategy Group, we cater for various companies packaging needs, which include beauty & personal care; industrial chemical; household chemical; food & beverage; liquor, spirits & wine; pet & vet as well as pharmaceutical companies.