Millennials expect intangibles brands. Not only is price or proximity, but things that go far beyond that. The millennials are one of the clear drivers of boom local, as valued elements such as proximity, quality and the effect it has on others their purchasing decisions. In addition, these consumers are very concerned about issues of commitment. So much so they expect brands to do good things or to commit to causes. And they valued aspects that are not valued the same as previous generations: they expect quality or appreciate the cultural aspects or differential of things. That’s what makes, for example, McDonald’s has problems to convince them that they are the best option.
But the list of different things that millennials ask brands has now added a new factor: happiness. The millennials, who are born between 80 and first 90, they value different things in life. They do not seek work both forever as one that makes them feel realized that a certain meaning to their existence and ultimately make them happy. That makes, for example, that do not engage both companies in which they work and their parents (give everything for them, right, and his work, but is not a commitment forever as the previous generation) and who they prefer to do things like go around the world volunteer or go to some remote village before going to work in a large corporation.
And if that pursuit of happiness has led them to change work patterns, lifestyles and even buying homes, obviously it has affected their relationship with the brands they consume. According to a study by The Intelligence Group and Engine, 70% of millennials believes that brands need help or encourage them feel better and happier. The pursuit of happiness is therefore a factor to be taken into account when make purchasing decisions and explains many of the booms in recent years in terms of consumption.
Etsy is full of inspirational posters, mugs with positive messages and notebooks and other items with aesthetic feel good . But do not go to the epicenter of the Internet monkey (in stiff competition with options) to find these types of products: the shops are full of cups, books or books brands like Mr.Wonderful, with lovely cups with thieves who want be your villain or smiling bombs that tell you that you can yet because you are, of course, the bomb lover. There are optimistic fonts, premium fruit juices with good humor and generated lists and possibly millions of articles on the internet that give advice on how to achieve happiness, from stepping on wet grass to put a picture of a beautiful landscape in the gray office.
Other values to consider
But millennials not only consider happiness when deciding on one or another brand, other elements also value. The study of The Intelligence Group and Engine reaffirms the idea of commitment. If you get to choose between luxury and consciousness, the millennials are left with the latter.These consumers are three times more likely to wear brands with conscience luxury brands and 4 out of 10 would be willing to pay more for products if they are eco-friendly . Tradition and issues of cultural heritage also very important to these consumers. According to the findings of the analysis, 37% considered very important to the heritage and tradition of a brand and a 67% value that a brand gets to combine the modern with its own history.
Similarly, companies must approach a completely different way to the millennial consumers because they value quite differently to their parents possessions. For 76% of respondents, their major life goal is to travel and not, for example, buy a house and settle down.
And this concern for others is not only reflected in their life goals, but also in how they see themselves as a generation and how they expect brands to act as they relate to them. The main expression used to define how respondents are was to? Globally connected’. Brands, also reflecting a global mind, that puts the emphasis on universal values when approaching consumers expect.