Millennials are the largest generation in U.S. history, representing nearly 30 percent of the population and a $290 billion opportunity. Their sheer size means that they will tip the scales of virtually every industry they touch—from housing, automotive and technology to retail and consumer packaged goods. They are also the most connected generation in history, having grown up with internet access and mobile devices, using both seamlessly in their shopping journeys.
However, to make strong connections, whether at brick and mortar retail or online, that resonate with this huge and increasingly powerful generation, CPG marketers must move past simplistic generalities and identify with millennials as truly unique individuals. They are often lumped together as having the same needs, characteristics and shopping behavior when they are, in fact, quite different.
The IRI MillenniaLink™ segmentation will help you win with millennial shoppers by:
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