Yes, Millennials are the largest generation to date and make up a huge share of the U.S. workforce.
But is the obsession over marketing to Millennial consumers warranted?
With shifting paradigms surrounding adulthood, Millennials are defining maturity differently. According to a recent survey by Nationwide Current Accounts, Millennials in the U.K. don't consider themselves ‘grown up’ until age 27. Over half feel like entrance to adulthood depends on particular milestones rather than age. One in five believe they’re mature when they have children, when they move out of their parent’s home and when they start paying bills.
Continue reading to learn when Millennials will "grow up" and when garden brands need to start paying attention.
The Answer is: Now
Millennials, those born between 1982-2000, have earned a sour reputation. They still live at home, are unemployed, and hard to get a hold on.
However, the situation has changed. 2017 is the year Millennials "grow up." Finally, this generation is starting to earn money, give birth, and move into positions with significant spending power.
They will spend $10 trillion over their lifetimes as consumers, in the U.S. alone.
Because of this shift, now is exactly the right time to face the challenge and finally make your marketing Millennial-friendly. But, it's time to reframe the conversation.
Stop Marketing to Millennials. Start Marketing to People
Yes, Millennial consumers are finally "adulting," it still doesn't mean we should pigeon-hole them into one category. If we've learned anything about this group it's that they like customization and value experiences. But targeting Millennials only means you’re missing an entire breadth of new users.
Most baby boomers are starting to feel left-out and that marketers don’t really understand them. There’s a misconception that boomers are not tech-savvy, which is not true.
According to Garden Media's 21016 Garden Trends Report, 46- to 64-year-olds spend more money on technology than any other demographic. And one in five of them now use social media every day, up from one in 10 last year. They see social as a way to get something done -- whether that's something at work or staying in touch with gardening peers.
The in-store shopping experience has gone from purchasing to browsing. To continue driving sales, garden brands must provide the customer with two experiences: one they interact with digitally from their home and one that inspires them in-store.
So What Do I Do?
Yes, Millennials still represent significant buying power, but they are not the only ones. Don't stress about reaching solely one generation or you will miss opportunities and revenue from other segments.
- Understand the needs, actions and buying habits of every group.
- Speak to consumers in an authentic and genuine voice.
- Create marketing personas and understand your target audience — who they are, what they think and how they live.
- Finally, test and learn. What is working and what isn't resonating.