Retail Trends Recap – Millennial Moms Key for Mother’s Day 2016
If you’re still thinking of millennials as teenagers with faces buried in their smartphones, you might be surprised at what this generation has actually become.
Millennials (generally those born between 1980 and 2000) now make up the largest consumer group in the United States, and members of the generation are entering their prime spending years.
That was quite obvious this Mother’s Day shopping season.
RetailNet Group reported in its 2016 recap of key trends around Mother’s Day that millennials spent significantly more than their older counterparts.
- Millennial average Mother’s Day spending = $296
- Generation X average Mother’s Day spending = $137
- Baby Boomer average Mother’s Day spending = $41
The typical millennial spent more than twice what the typical Gen-Xer spent for Mother’s Day!
With a significant portion of millennial women now in their late 20s and early 30s, they also represent the largest group of young mothers. Parenthood is definitely having an impact on this group’s purchasing decisions.
Millennial moms may carry the most purchasing power of all. RetailNet Group’s recap notes that 1/3 of these women are the primary income earners in their households. And, they aren’t afraid to spend money on themselves either.
RetailNet Group points out that “self-gifting” was a notable shopping trend for Mother’s Day 2016, as moms felt free to treat themselves to something special.
It’s clear that understanding the millennial mindset is critical for packaging and the overall retail experience. Here are some things to keep in mind.
4 Insights on Millennial Shoppers
1. Millennials Believe in Sustainability
Millennial shoppers are looking for brands that share their values, including environmental responsibility. According to 2015 Nielsen research, millennials call sustainability a “shopping priority.”
In fact, nearly 3/4 of millennials surveyed in the study indicated a willingness to pay more for sustainable options.
Your brand’s packaging choices are an excellent way to establish environmental stewardship. At Menasha, we’ve made sustainability part of our corporate culture, and we’re always looking for ways to help our customers be more sustainable. That can be done with eco-friendly retail packaging solutions as well as supply chain solutions. Our plants are SFI® and FSC® certified.
2. Millennials Appreciate Convenience
There are unique challenges associated with being a parent today. Millennial moms and dads are busy, and they welcome anything that will make life a little easier.
Digital shopping tools are an ideal way to move young parents along the path to purchase while providing added value and convenience to the shopping experience. You can read more about that here on our blog.
Menasha helps your brand reinvent retail displays through our partnership with Shelfbucks. The Smart POP Displays we create enhance the shopper’s experience and positively impact sales.
Convenience can also be achieved with the right product packaging. We’ll help you develop the ideas for packaging that improve your end user’s way of life.
3. Millennials are Early Adopters
According to Experian.com, more than 50 percent of millennials rank far above or above average in terms of being early adopters.
Early adopters influence other groups as they take the lead in trying out new ideas, technologies, and products of all kinds.
Nielsen research found 66 percent of millennials surveyed said they purchased a new product on their last grocery shopping trip.
In crowded retail spaces where consumers have a mind-boggling amount of product choices, innovative packaging and eye-catching retail displays can help you stand out while attracting millennial shoppers.
4. Millennials Respond to Personified and Personalized Packaging
How can you make your packaging and retail displays more personal? It’s a smart question to ask if you’re trying to reach millennials.
The website MillennialMarketing.com suggests younger generations want to see the human side of brands they buy. “They want to see brands as people with personalities.”
Packaging Strategies magazine published a web exclusive detailing the power of personalization in packaging.
“Personalization is becoming not only necessary but expected, especially among millennials, who desire far greater input on what they purchase than earlier generations. With this fact in mind, brand owners are seeking to differentiate and excite this consumer demographic through packaging.”
The article explains how creating customized packaging around events, like Mother’s Day and summer vacation, or different markets, like sports teams in a certain city, is becoming an important tactic. Strategies like variable printing allow for unique designs and messaging.
Coca-Cola hit the nail on the head when it released cans and bottles featuring names and nicknames. This strategy both personalized the beverage packaging and made it feel more human.
Want more millennial shopper insights? Contact Us!