The Impact of Millennials on the Packaging Landscape
Personalization, affordability, and connectivity: These are the features millennials demand from packaging. Before we examine what this means for manufacturers and brand owners, let us point out some major characteristics of the generation Y.
Millennials were the first to grow up with digital technologies such as computers, the internet, and mobile phones. Due to their increased familiarity with communications and media, they are also called digital natives. One of the most popular forms of media use by this demographic group is social networking on platforms such as Facebook, Instagram or YouTube.
The Generation Y as Innovation Driver for the Packaging Industry
But why this opening? This is perfectly obvious: These influences tracing back to the childhood of millennials today affect how they make purchase decisions – not just because they buy products online more and more. Thanks to excellent targeting opportunities, the first touchpoint between consumers and a product, and thus with its packaging, is online.
The digital cosmos is also where they search for detailed information on a product, share pictures of it, and recommend it to their friends. This behavior has to be taken into account during the development of products and their packaging. This is why we gathered 3 ways the generation Y is driving change in the packaging industry.
Personalization Enhances Loyalty
In times of lives increasingly taking place in the public, much if not all is about self-portrayal. So it is no surprise that millennials personally connect to their preferred brands vigorously. Buying a product becomes a commitment. After all, the decision for it is like a statement telling something about who they are and which values they have. To put it in a nutshell: Digital natives are more likely to purchase a product if it makes them feel special. Packaging personalization jumps on this bandwagon. It is eminently suitable to strengthen the relationship between consumer and brand while satisfying the desire of generation Y to have the most exclusive products at the same time.
Affordability as the Winning Formula for Private Labels
Although the buying power of generation Y is high, millennials are extremely price-conscious. Of course, they are willing to pay more for high-quality products which speak for their socio-economic status. But they also browse the internet to compare prices and look for other labels their favorite companies are offering. When coming in a premium package such high-end private labels can appeal as much to digital natives as popular brands.
Connectivity Gets Millennials at their Fingertips
Digital natives cannot imagine a world without smart packaging. For them, connectivity plays a vital role. This offers brands a perfect occasion to connect and interact with consumers from the generation Y. For instance, packaging including QR codes gives millennials access to information or a community interested in the same products as they are. It is also a great way to offer, for example, discounts or even tell a whole story of the product.
Creating Impactful Packaging Design for Millennials is Key
Long story short: If manufacturers and brand owners manage to understand millennials and their motives and transform these into innovative packaging solutions, they are on the right track.
Which other packaging trends such as the to-go business and the use of sustainable materials are triggered by millennials in your opinion? Let us know in the comment section!