Is your business targeting #GenZ coffee consumers? "Recent analyses, including insights from The Economist, have highlighted that Gen Z have a higher income than its predecessors, the #babyboomers and #millennials. The article reports that a typical 25-year-old Gen Z-er (or Zoomer) has an annual household income of over $40,000, more than 50% above baby-boomers at the same age. While factoring in inflation and current cost of living might make these numbers less sensational, they still demonstrate that Gen Z holds considerable #economicpower." Check out today's article at Coffee Intelligence. Sarah Eleanor Charles spoke with William Dunaway about the preferences of Gen Z and millennial coffee consumers, as well as their priorities such as sustainability, community, brand building, and fun and exciting products. https://lnkd.in/e9NMCTqn
Henry Wilson’s Post
More Relevant Posts
-
#GenZ is making waves with their hefty #spendingpower, prompting the coffee industry to pivot towards them. With $360 billion in disposable income, they're reshaping specialty coffee trends. Gen Z's preference for fun, accessible experiences is driving a shift from ultra-specialty to ready-to-drink coffees with diverse flavors and playful branding. Transparency and community engagement are key for this generation. By understanding and adapting to Gen Z's values and preferences, coffee businesses can lead with authenticity, sustainability, and purpose-driven offerings. #CoffeeIndustry #GenZConsumers #SpecialtyCoffeeTrends #SustainabilityInCoffee #CommunityEngagement #GenZImpact #ConsumerPreferences #MarketTrends #CoffeeBranding #Authenticity #YouthConsumers #CoffeeInnovation #MarketInsights #SpendingHabits
The Economist recently touted #GenZ as being “unprecedentedly rich”, advising enterprises and investors to take note of the young generation’s high #spendingpower. While the third wave banked on #millennials, the coffee industry is now betting on Gen Z – who hold an estimated $360 billion in disposable income. Sarah Eleanor Charles speaks with William Dunaway about Gen Z and millennial consumer preferences, and how the specialty coffee era will be more about fun, sustainability, and community brand building. https://lnkd.in/eh-TKGnT
Gen Z have the highest spending power, and the coffee industry is banking on it
https://intelligence.coffee
To view or add a comment, sign in
-
#goodnews 🎉 to share for the #naturalproductsindustry! Younger generations are choosing to splurge on high-quality GROCERIES 🛒 this year according to a new study from McKinsey & Company. While all generations are still feeling inflationary pressures on their pocketbooks💵, there's a special opportunity to connect with younger audiences who are coming into more discretionary income and who are starting families. Curious how your #cpg brand can better connect with Millennials and Gen Z? Our SchroderHaus team would love to share some examples of how we're doing just that for better-for-you and the planet brands. #affiliatemarketing #publicrelations #digitalmedia #influencerengagement
Millennials and Gen Z's trendy new splurge: groceries
businessinsider.com
To view or add a comment, sign in
-
Millennials & Gen Z Are Paying More for Ready-to-Eat Convenience, And Why Your Brand Should Care The Indian Ready-to-Eat (RTE) market is booming. But it’s not just about convenience anymore --Millennials and Gen Z are demanding premium products. Are you tapping into this trend? 👇 Let’s dive in, What’s Driving This Premiumization? 📌 Health Consciousness: Millennials and Gen Z are prioritizing nutrition, even in their snacks. Clean labels, organic ingredients, and high-protein options are key. 📌 Experience : It’s not just food - it’s an experience. Premium RTE products focus on packaging, storytelling, and how they make consumers feel. 📌 Sustainability: Eco-friendly packaging and sustainable sourcing are non-negotiable for these buyers, and they’re willing to pay extra for brands that align with their values. The Numbers Don’t Lie: ✅ The RTE market in India is set to grow at a 20% CAGR. ✅ 60% of Millennials are open to spending more on premium RTE products that align with their lifestyle. ✅ Gen Z is spending 40% more on premium FMCG products compared to older generations. What Does This Mean for Your Brand? ✅ D2C Growth Potential: The rise of e-commerce makes it easier for RTE brands to position themselves as premium options, but it’s not just about being online. It’s about standing out as the better choice. ✅ Storytelling: Brands that don’t tell compelling stories miss the chance to connect. Millennials and Gen Z buy into brands that reflect their beliefs and values. ✅ Leverage Data: AI and data-driven insights can help brands adapt quickly to consumer preferences, offering personalized and premium experiences. Real-Life Example Look at brands like Yoga Bar (Sprout Life Foods) and Wholsum Foods (Slurrp Farm and Millé). They’re leading the way by offering premium RTE products focused on health and quality, paired with compelling brand stories. Consumers are no longer satisfied with “just good enough” - they’re looking for experiences they can connect with, and they’re willing to pay for it. What Should You Do Next? ✅ Is your brand tapping into these premiumization trends? ✅ Are you using data to tailor your offerings? ✅ Are you telling the right story to connect with your audience? The RTE market is growing, and the opportunity is huge - but it’s only for brands that can keep up. If you want to explore how your brand can leverage this premiumization trend, let’s connect! I’d love to help you rethink your strategy and drive growth in this rapidly evolving market. P.C: IndianRetailer.com #FMCG #Retail #D2C
To view or add a comment, sign in
-
Millennials are broke. Statistically I believe we’re the first generation ever to NOT be doing better than our parents. So if you’re running a business, how do you make money from a generation that has wallets running on E. For some brands they’ve found the answer in ‘Little Treat Culture’. With the knowledge that a fair number of Millennials and Gen Z customers can barely afford most modern day luxuries, these brands figured that while there was little room for the big purchases, there’s was always appetite to fork out a dollar or two on micro indulgences. Case in point: the other day I shelled out a cool R60 on a gold leaf cuppacino. Don’t judge 😕 For a whole R35 more than a regular cuppa, I got the exact same tasting beverage and all they did was add a sprinkle of (possibly fake) gold dusted edible leaf over the foam. Is that conspicuous consumption? Probably. But it’s also a 2X revenue on a single item. And so I believe the face of consumer businesses is evolving. Mega profits are now more often hidden in micro moments of luxury and pomp. Think FNB giving ‘Black Cards’ out to anyone with a pay slip. Or the Chinese adding previously S-Class only tech to entry level cars. A sliver of luxury is buying brands a world of new customers, loyalty and brand affinity. Which is why now is probably the time to start exploring how your business can embrace Little Treat Culture. Our Spandex tight wallets demand it!
To view or add a comment, sign in
-
NIQ’s latest report, SpendZ, reveals how Gen Z will significantly influence the future of retail. Regionally, their impact varies; in the U.S., Baby Boomers lead spending, while in Asia, it's Gen X. By 2030, Gen X will take over in the U.S., but Millennials will dominate Asia. Understanding these differences is crucial for brands preparing for Gen Z's impact. Explore more on Gen Z in the U.S. and how brands can align with their evolving needs and purchasing influence. #NIQ
Navigating the U.S. Gen Z Market: Opportunities and Challenges
https://nielseniq.com
To view or add a comment, sign in
-
Splurging once meant spending money on buzzy restaurants, expensive vacations, and designer clothing. These days, it has succumbed to a more humble category. Groceries are shaping up to be a top spending priority for younger generations, according to a February report from McKinsey & Company. The firm asked over 4,000 people, from baby boomers to Gen Xers, about the categories they intend to splurge on this year. Groceries ranked highest for millennials and Gen Zers, outpacing restaurants, bars, travel, beauty and personal care, apparel, and fitness. They are also becoming parents. That means they spend on themselves, their partners, and their children. It's a notable shift from 2018 when older generations like baby boomers and Gen Xers still spent more on groceries than millennials. The success of the canned water brand Liquid Death also shows how young people are willing to spend on flashy food and beverages. The brand recently shot up to a valuation of $1.4 billion thanks to a recent round of funding, according to Forbes. Peter Pham, an investor in Liquid Death, previously told Business Insider that part of the brand's success comes from its appeal to younger generations. "The healthy-food-and-beverage space has historically been a stale category filled with boring brands," Pham told BI. "This creates a lightning-in-a-bottle moment for disruptive brands who know how to tap into culture and talk to Gen Z and digital natives." No matter their preferences, all generations are feeling the pinch from inflation at grocery stores. Everyone is spending more than they were in previous years. The typical American household now needs to spend $445 more on groceries a month to purchase the same amount of goods they were spending a year ago, according to a report from Moody's.
Feeling the pinch, groceries become a 'splurge' for millennials and Gen Z
businessinsider.com
To view or add a comment, sign in
-
The shift from millennials to Gen Z marks a significant evolution in consumer habits. Gen Z, born into a world of high-speed internet and digital connectivity, has been shaped by their unique experiences and upbringing. Their constant exposure to information and social issues has cultivated a deep sense of awareness and activism. As a result, they actively seek out brands that align with their values. According to Forbes, 77% of Gen Z take action for causes they believe in, with 80% actively seeking socially conscious brands. This fundamental shift in consumer behaviour signifies more than just a passing trend—it's a reflection of Gen Z's commitment to creating a better world. It's time for businesses to wake up and smell the change. Gen Z isn't just an extension of millennials; they have their own distinct preferences and priorities. They're pragmatic, they want products with real value. They're socially conscious, they demand accountability from brands. Are you ready to embrace the transition and meet the demands of Gen Z consumers? #GenZ #ConsumerHabits #SocialImpact #Authenticity
To view or add a comment, sign in
-
Are gen Z really the sober curious generation? As gen Z cements its position in the market, the generation’s buying habits are under the microscope alongside their millennial counterparts. One topic that brands want to understand is the Zoomer mindset when it comes to alcohol consumption. We’ve seen plenty of research and commentary in this area, so we decided to run a study to better understand gen Z’s relationship with alcohol and there does seem to be a shift... 🍷 Here are the top 3 insights 🍻 When they were at university, millennials drank more than gen Z currently do. 44% of gen Z drink alcohol at least once a week, with 25% stating they drink more than once a week. Whereas 68% of millennials remembered drinking more than once a week at university, with 53% stating they drank more than once a week. Gen Z doesn’t drink for a variety of reasons. For respondents who don’t, or rarely drink alcohol at bars, 35% say it is because they only drink on special occasions, 29% say alcohol is too expensive and another 29% state they would rather spend money on other things. Both gen Z and millennials believe their own generation drinks less than the other. 39% of gen Zs said their generation drank less, in comparison to the 40% of millennials who said their generation drank less. If you're a brand looking to understand your audience, we can help. Connect with relevant audiences across any demographic for eye-opening insights. Better data means better decisions. #insights #marketresearch #consumerpsychology #consumerbehaviour #GenZ *Polled 518 Gen Z respondents aged 18-26, and 497 millennials aged 27-40 who went to university*
To view or add a comment, sign in
-
According to Mintel’s market research, many consumers are feeling stressed and burnt out after years of global uncertainty caused by the pandemic, global conflicts, and climate change. As a result, consumers are seeking emotional relief. Older Millennials are a key consumer group for stress-reduction products and services by food and drink brands, as 34% of Older Millennials drink beverages that feature calming and relaxing claims indicating existing interest in such products. https://lnkd.in/gQBds2k7
Millennial Buying Trends and the Consumer Landscape | Mintel
mintel.com
To view or add a comment, sign in
-
The largest living adult population in the US is ignored by most B2B brands. And it’s costing them Billions in lost revenue. Millennials have a collective annual income of roughly $1.8 billion in the US alone, worldwide they make closer to $2.5 trillion dollars and are expected to exceed $4 trillion dollars in annual earnings by 2030. So WHY do B2B companies act like they don’t matter? If you’re in the B2B world and want to continue to see sales growth over the next 15 years … this is your golden ticket opportunity. The days when any website was a good website, finding things on the website felt like a maze and contact forms were better hidden than a speakeasy in the '20s are dead. We’re riding the wave of a millennial takeover in the B2B scene. Millennials want easy access to reliable information. It really is that simple. Give them what they want, when they want, how they want, and they’ll buy from you. Make it too difficult and they’ll bounce to your competitor without apology. Let me give you an example, I teamed up with this massive manufacturing company—let’s just call them “Acme”—that was basically ghosted by millennials. Their site was a mess of insider lingo and product names needing a decoder ring. Millennial buyers were not having it. They took one look, got a headache, and dipped for simpler solutions. Acme was stuck in the B2B dark ages. So, we rolled up our sleeves and got to work, turning their website into a millennial magnet: - We swapped the company jargon for customer vocab — language their customer uses when working with their product category. If it sounded like it needed an industry handbook to understand, it was out. - Put the ROI and the “what’s in it for me?” smack dab on the front page. No more leading with how great the company is. It’s all about the customer. Always. We made that website as intuitive to navigate and organized it based on customer needs, not company priorities. And added robust site search . - Forms were saved for high-value, bottom of the funnel asks only. And were easy to find with 5 or fewer form fields. Post-makeover, Acme’s website started engaging millennials like never before. ↳ Traffic shot up ↳ Leads multiplied ↳ Closing bell on deals was ringing more often The proof’s in the pudding, and now you know what tapping into the millennial wavelength can do for your business. The B2B game is evolving, and millennials are holding the joystick. They’re all about simplicity, transparency, and the straight shot to what they want. If you’re ready to shake off the old-school B2B cobwebs and chat in a language that resonates with the up-and-coming market, you’re not just future-proofing your biz… you’re unlocking a new level of marketing mojo. #manufacturers #buildingmaterials #digitalmarketingstrategy #digitalmarketingevolution
To view or add a comment, sign in