Albany, NY -- (SBWIRE) -- 10/01/2015 -- Understanding the attitudes and behaviors of young adults, a generation also called 'millennials', is the key to unlocking opportunities in consumer packaged goods markets both now and over the next 30 to 40 years. Young adults can be difficult to target as this age group includes vast differences in age, lifestyle, financial power, and life goals. However, there are three universal characteristics young adults share that should inform how to tailor product development and marketing campaigns to them. These are the rise of the niche, personalization and self-expression, and informal eating.
Key Findings:-
The term 'millennials' can lead brands astray as they seek to target a consumer group with vast differences in age, lifestyle, financial power, and life goals. However, there are three universal characteristics young adults share that should inform how to tailor product development and marketing campaigns to them.
Niche brands are becoming more popular, making it increasingly difficult for mass market brands. Brands need to forget the "one size fits all" model, and develop a broad range of products that are closely aligned with very specific consumer groups and needs.
The desire to stand out from the crowd has been present among all generations in their youth, but increased disposable income and the wide array of developed retail channels, including online, means young adults today can spend more money on more products that reflect their identity and personality
Informality has increased as traditional eating habits dwindle due to a lack of time, changing social attitudes and busy lives. This means the line between snacking and meals is blurring, new consumption occasions are being created, and consumers are looking for even better quality food despite wanting to minimize the amount of time spent preparing it.
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Canadean's "Grocery Shopping Habits: Examining the Attitudes of Young Adults" report shows how brands and private labels can target young adults by examining how trends like value for money, convenience, craft, and social media are changing consumption habits. A complete overview of how and why young adults should be targeted is provided by analyzing what share of the market they account for, what unique characteristics unite this generation and set them apart from previous ones, and how these characteristics impact their day to day consumption decisions.
Reasons To Buy:-
Develop products which truly resonate with the young adult audience by understanding what unites, and differentiates them
Know what steps you need to take to target this vital audience thanks to Canadean's unique knowledge of young adults' attitudes and behaviors, drawn from a global consumer survey
Identify new markets for your brand to expand into by seeing how the attitudes of young adults vary from country to country
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Table of Contents:-
Introduction and Summary Methodology
Young adults command a larger share of the grocery market than could be expected
Share of FMCG products consumed by young adults – global
Share of FMCG products consumed by young adults – BRIC vs. Non-BRIC countries
Analysis of consumption patterns by age group: how Young Adults compare to other consumer groups
While the term "millennial" is too broad for successful targeting, millennials do share three universal characteristics that should inform how to tailor product development and marketing campaigns to them
The decline of the middle ground and the rise of the niche is defining this generation
Brands must cater to the need for self-expression to maintain the attention of young adults
Informal meal occasions have become the normal way to dine for young adults
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