Products Millennials Aren’t Interested in Buying

Products Millennials Aren’t Interested in Buying

39444Millennials hate being told what to do or what to buy more than they dislike being stereotyped in one generalized group. It can be tricky for marketers to navigate around different personalities, behaviors and attitudes. Businesses can use the unlimited amount of data on spending behavior available online to provide valuable insights to guide ad campaigns and marketing strategies.

The most important clues marketers should follow are the largest trends of the generation. For example, young people are getting married later, renting as opposed to buying homes, and getting rid of cable and TV. However, one of the biggest trends is the tendency of millennials to be conservative with their money. They are wary about making large purchases, rely on friend recommendations and customer reviews, and trust quality over gimmicks. This is why it is crucial to have to provide millennials with a seamless, digital experience. They prefer to spend money on experiences as opposed to tangible items. This is another unique millennial value to keep in mind during advertising campaigns because their preferences actual shift away from the value of owning items. Here are some products that millennials just won’t spend their money on and what advertisers can learn from this.

Cheap beer.

Mass market inexpensive beers like Coors and Millers are less popular with millennials, with craft beer sales increasing. The Brewer’s Association estimated that craft beer consumption has been steadily increasing over the past five years, rising by 11 percent in 2014. Even though millennials tend to watch their spending, they enjoy the taste of quality beer. They also support smaller businesses by visiting microbreweries that generate money for local economies. When it comes to beer, millennials are interested in quality over price and are smart enough to know and taste the difference.

Expensive clothing.

According to a Morgan Stanley report, millennials spend more on expenses such as rent, phone bills, and other personal services than young people 10 years ago, which leave less money for buying clothes. Clothing companies claim the slow sales are due to the fact that electronic sales are taking market share away from apparel. Therefore, millennials aren’t willing to spend as much money on clothing as they were before – and favor cheaper brands such as Old Navy and Uniqlo. They are also more interested in casual wear clothing, such as yoga pants and other athletic leisurewear. High quality “athleisure” brands are in – with millennials preferring comfy bottoms and flocking to Lulu lemon warehouse sales. In fact, yoga pants have now become acceptable office wear according to Fortune.com. Marketers should highlight long term durability, comfort, and classic styles when looking to grab the attention of millennials.

Fast food.

Generation Z is the demographic that is the most concerned with health, according to Nielsen’s Global Health Survey, with 41% saying they would pay more for healthier products, and 32% of millennials agree. Millennials are ditching McDonalds and other fast food restaurants in favor of fast-casual restaurants such as Panera and Chipotle. Businesses should focus on fresh, quality ingredients since millennials are willing to pay more for better and healthier choices.

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