Ragging on Millennials has long been a favorite pastime of cultural critics, with marketers jumping into the game not long after. The essential issue? As Millennials’ buying power increased with age, it became more and more apparent that they often approach the consumer experience with a very different mindset. Organizations that were slow to realize and respond to this shift often got burned.
A recent study showed that interesting consumer behavior is also present when Millennials shop specifically for alcohol.
Key takeaway? Lack of brand loyalty. I know, we’re all very surprised.
Things the study showed:
- Regardless of age, relatively few people buy alcohol on impulse (just 11% of Millennials did this in the last month). Over three-fourths of all shoppers planned their alcohol purchase.
- Less than a quarter of Millennials have a particular brand in mind when they go shopping for alcohol, compared to more than half of Baby Boomers.
So there’s a clear opportunity for marketing to play a role here, right?
Absolutely. Alcoholic beverage companies totally have room to capture Millennial consumers as they’re standing in the store. Labeling in particular should therefore be given even greater consideration.
Do you want to make or sell alcohol to Millennials? Well, that takes great marketing and a liquor license from the TABC. We’re specialists in the latter, but [inevitably terrible] marketing advice is also available on request.
SOURCE: Food Dive.