inStore - November/December 2013 - (Page 22)

consumer trends CONSIDER Millennials Millennials (aged 20-35) represent 25% of the total population, and currently leverage around $170 billion in spending power, according to Technomic. And that number will only Millennials (aged 20-35) represent 25% of the total population. continue to grow as this generation further matures. If you're not thinking about millennials and the impact on your bakery business, you definitely should be. be as blindly brand loyal as their parents or Understanding a generation's core values is vital to grandparents, they do support brands that understanding how they react in certain situations. align with their personal beliefs. Not everyone in a group is going to respond the same in every situation; however, you can generally Because the economy has been especially spot commonalities over time. Growing up, millen- tough on this generation, they appreciate simple, nials found the world to be a much scarier place than flavorful indulgences, like sweets, as a way to did their parents. Think about growing up in the shadow of the Columbine shootings (and the school shootings that followed), not only treat themselves, but to experience diverse and new flavors. They, more than other generations, value September 11, and the global war on terrorism and you realize they're interesting and/or exotic flavors and foods, and will look for this when justifiably tense. At the same time, this generation has been highly making decisions on where to shop. impacted by digital technology, which is a double-edge sword for millennials. It helps them stay highly connected, but also means Because they're so passionate about leaving a positive mark on the they're inundated with news about a fragile economy, a treacherous world, millennials respond to brands that connect with them digi- job market and daily reminders that they're drowning in student debt. tally (think email, social media, websites); value diversity (both in employment practices, as well as ingredient or menu diversity); and Many think millennials are self-absorbed with a sense of entitlement, are socially responsible. This generation takes a lot of behavioral cues when in reality, they're no different than any previous generation, into account when making purchases, including how you treat your trying to find their ways in a complex, sometimes confusing world. The employees, your customers, and the community and industries in forces shaping their early years, fueled with pervasive digital tech- which you do business. According to Technomic, 57% of millennials nology, has created a generation that values transparency in commu- say it's highly important to support their values through spending. Marketing to millennials takes some finesse, but no more than is required to speak to other generations. What makes it different is the lightning speed at which those communications take place thanks to digital technology. Bear these guiding principles in mind when planning your millennial outreach. Keep it simple, in both promotional messages and the nature of your promotion. Make it easy for them to give. Let creativity reign. Millennials appreciate fun, creative promotions and even better if you engage them in posting photos of themselves partaking of your promotion. Go social. Provide regular updates in-store and via social media on your progress. Have a heart. Tie your promotion to a cause that's right for your business and communicate that heart to your millennial customers. nications, relies on peers and virtual communities for purchase JOHN SCROGGINS IS VICE PRESIDENT OF INTEGRATED COMMUNICATIONS AT decisions, reveres technology, demands diversity and social inclusion, NOBLE, A NATIONAL ADVERTISING AGENCY WITH SPECIALIZATION IN FOOD. and is highly creative and self-expressive. And while they may not WWW.NOBLE.NET. 22 * NOV + DEC 2013 * instore http://WWW.NOBLE.NET

Table of Contents for the Digital Edition of inStore - November/December 2013

inStore - November/December 2013
Editor's Note - The Summer Issue
What's in store for June & July
Table of Contents
News - On Our Radar
Consumer Insights - Sweet Goods
Deli Sandwiches
Millennials
Gear Up for Summer - Summer Sensations
Gear Up for Graduation - Graduation Party
Gear Up for Weddings - Lucrative Wedding Cakes
Gear Up for Specialty Foods - Why Specialty Foods are so Special
Product Trends - First to Market
Ad Index
Next Up: Gear Up for Halloween

inStore - November/December 2013