Millennials are careful shoppers who will do their own research before they buy anything. Instead of buying things they don’t need, they would rather spend money on experiences and make memories that last a lifetime.
The money they spend is usually on products that give them the experiences they’re looking for, whether it’s food, drink, technology or entertainment.
- Cellphones
Millennials use their cellphones for so many purposes and they tend never to leave their sides. They’re able to use all kinds of apps to manage their health, their budget and more. They’re more likely to own an iPhone than any other generation and these phones have good quality cameras they can use to capture their experiences.
- Vape accessories
Millennials currently make up almost half of the vape market. They tend to believe that vaping is safer than smoking although this hasn’t been proved. They enjoy the paraphernalia and all the flavors on offer, supporting companies like Vaping360.
The company will tell you that vaping is preferable to smoking due to the absence of toxic odors, second-hand smoke and toxic chemicals produced by burning tobacco.
- Entertainment subscriptions
Entertainment subscriptions, such as a Netflix subscription, are important to millennials. TV sets lack the mobility that they want and they don’t buy cable. They buy or share streaming services instead. They want entertainment on-the-go and to be able to stream movies etc. anywhere and at any time.
- Environmentally friendly products
They are conscious of the damages that humans can cause to the environment. Many of them are willing to pay more for environmentally friendly products.
When buying beauty products, they’ll probably want to know that they’re cruelty-free. They want to know that what they’re spending their money on is good for the earth and its people.
- Convenient technology
Convenience is important to millennials. Their lives are always on the go and they expect brands to intersect with the technology in their lives. Fortunately, meeting their needs with innovative technology is a way to delight them and win their loyalty.
- Healthy food
Millennials support organic farming and enjoy ethnic/specialty foods. They’re willing to go to different grocery stores and try out online shopping. They will even cook themselves if they can order online and receive a week’s worth of groceries and the recipes to make meals.
- Varied wines
Millennials enjoy knowing about the story behind a wine and will try out wines from lesser known producers and regions. When it comes to choice, they are often driven by word-of-mouth recommendations from their peers.
They are adventurous in their tastes, crave authenticity and are attracted to eye-catching labels that suggest an interesting story. This presents a great opportunity for wine producers and restaurants to get creative with customer experiences.
- Small batch spirits
They’re super conscious of where products come from and this is why small craft companies appeal to them. They appreciate the work that goes into creating special products.
- Fashionable clothes at discount store prices
They may want fashionable clothes but they want to pay bargain prices. The best way to describe it is that they’re ‘frugally fashionable.’ Second-hand items are growing in popularity and many of them shop at thrift stores.
Some of the reasons for this are that the clothes are cheap, they can find unique items and it’s an environmentally-friendly way to shop.
- Products from brands that give back to society
They are fed up with corporate greed and this is why they want to support brands that give back to society in some way instead of just making a profit.