Millennials Don’t Have Loyalty to Brands That Previous Groups HadJuly 29, 2016
SupplyChainBrain | July 29, 2016 – Retailers will need to do some serious marketing and brand shifting going forward given the biggest consumer base, those millennials, aren’t as loyal or brand committed as previous generations of consumers.
A new Daymon Worldwide study, which polled 7,000 millennials and Generation Xers across 14 countries, examined how the various generations view retail brand, loyalty and technology use within the retail environment.
“Generally speaking, millennials are less loyal to and are disaffected by brands than Gen X. Twenty-nine percent of millennials and 35 percent of Gen X say they usually buy the same brand, but will try others on occasion and 26 percent of millennials say they are likely to “buy whatever brand they feel like at the time,” said a release on the study results.
“By the year 2030, there will be more millennials than any other generation, including baby boomers, in the U.S.,” said Daymon Worldwide President of International Vasco Brinca, in the release. “We have never experienced a generation like this, in large part because they have grown up with economic uncertainty, high unemployment, and are always ‘on’ digitally. It is critically important to study this generation and their culture today to discover the impact they’ll have on the world’s future in the years to come.”