Package Your Product to Appeal to Millennials
There are more than 80 million Millennials — adults between the ages of 18 and 35, also known as Generation Y or Gen Y— in the United States today. According to a recent article on BusinessInsider.com, 30% of all retail sales will be to Millennials by the year 2020. Given the accelerated growth of this market segment, you should understand what elements your packaging needs to interest Millennial consumers in your product.
In general, Millennials tend to value a sense of “affordable”luxury. Millennials also place high value on eco-friendly options —particularly if they have a socially conscious element to them. And Millennials are drawn to products and packaging that have an element of personalization or innovation.
Tailoring your product’s packaging to appeal to Millennials isn’t complicated. To do so, you should design your packaging to incorporate this generation’s key values. Consider using these tips to give your packaging an edge with this ever-expanding market segment.
Tip #1: Make it luxurious — but not pretentious.
Millennials desire luxury —but at an affordable price that conveys high quality at a bargain. Traditional luxury packaging strategies tend to be a turnoff for Millennials, who view them as pretentious. Packaging that’s designed to be more aesthetically in line with Millennials’ viewpoint on luxury will make your product more appealing to this consumer group. Who’s doing it right? Delicato Family Vineyards’ Belle Ambiance wines tie in the Millennials’ desire for affordable luxury with upscale-style packaging at a price point that provides a sense of real value.
Tip #2: Make it socially conscious and convenient.
Millennials look for products and packaging that contribute to the greater good —but are also convenient. Busy and value-oriented, Millennials are particularly swayed by products and packaging that all them to be socially conscious consumers with minimal fuss. Who’s doing it right? Lush Cosmetics’ Little Green Bag unites environmental consciousness with convenience by providing reusable tins and easy-to-recycle cardboard packaging.
Tip #3: Personalize it.
Millennials respond well to packaging that provides a sense of uniqueness and personality. Customized packaging that uses color and novel design elements gives Millennials a buying experience that feels more personal. Limited edition packaging also ties into Millennials’desire for a more personal or unique purchasing experience. This particular key value is also a great way to build your brand by bringing Millennial consumers into personalization efforts using social media. Who’s doing it right? Absolut Vodka : In 2013 and again this year, Absolut produced four million unique bottles of its Absolut vodka, giving Millennial consumers a highly personal buying experience.
Tip #4: Make it fresh and innovative.
Millennials embrace packaging that is fresh or original —for example, packaging that increases convenience and functionality or provides a fresh way of delivering the product. Who’s doing it right? Heinz evolved the traditional ketchup packet into the dual-function Dip & Squeeze package and innovated an entirely new way for consumers to use its product on the go.
Businesses are paying increased attention to Millennials these days. Knowing what’s important to this generation can help you tailor your packaging and your product marketing strategy to capture their attention —and a portion of their spend.