Today we‘re going to speak about 4 millennial brands that we all love. Studies have shown that they prefer to rent things than to buy them. But when it comes to Fast Moving Consumer Goods (FMCGs) like groceries, toiletries, cold drinks, phones, earphones, game players, etc. then there is no choice left but to buy them and then consume or use as these goods are not rentable like cars and homes.
Millennial Thought Process
Being a millennial is not an easy job as they like branded goods for themselves and not less but their branded buying has another condition, they want to get these branded goods at low costs/prices and if not low prices then high/greater quality products or services are their major attraction to the brands. Those brands fulfilling these conditions are getting most of the millennial attention.
Qualities To Vouch For In Millennial Brands
That was the one side of the picture, on the other side, not only Millennials want to buy branded products but brands also want to make friends of such a large group of consumers who have trillions to spend of their own. That is the reason brands want to build a high-quality relationship with a member of this generation.
What Do Studies Tell Us About Millennial Brands?
According to a study of purchasing power by different generation’s shows that Millennials spend $170 billion per year while generation-X had $125 billion of purchasing power which means that Millennials have 45 times greater money to spend than their parents had. The list of famous brands we’re going to share going forward is not new to you but let’s go through once again.
Differentiation and uniqueness is a quality of Millennials that cannot be ignored. They are likely to buy those goods that make them look different from many others. That’s the reason why members of generation Y choose apple as a telecom hardware solution brand, as it provides them with technology filled gadgets with supreme quality.
Sales survey shows that most of Apple product buyers are Millennials. Most used apple products by Millennials are MacBooks, iPhones, iPads, Mac wrist watches. Some customer reviews of Apple products are here to show you why Apple has so many brand loyal customers and is catering to a large number of members from Generation Y:
Customer 1: I like It
Mac is good. The only problem is there prices lol.
Customer 2: Great Products
Their products are gr8 to use, no worries abt its repairment or replacement, I got iphone6 & till date, it’s working very smoothly
Customer 3: Loyal Follower
I am the loyal follower of apple, always like apple products!
Nike The Fav Among Millennial Brands
Do you like comfy and branded shoes and other activewear? Then you probably are a millennial and Nike is providing a large range of such outfits. As millennials are more conscious about their health and fitness, while their parents focused on their diets. Nike is using high standard technology in making its clothing.
Most commonly being used products of Nike by millennials include tracksuits, sport-specific wears and gears, caps, socks, and sport-inspired urban shoes and the list goes on. Again since Nike satisfies needs of Generation Y, they are famous and successful. It is used mostly by brand conscious members of this generation. Below are some customer reviews on it.
Really good service, just as usual!
Always get my items with great service. No need to call or contact. Items come well received every time.
Impressed By These Millennial Brands
I always leaned more towards Adidas..but recently as I needed a new pair of shoes I thought I’d give Nike a look. I’ll admit that they aren’t the cheapest but then again when you get a product of such high quality, I say they are worth the price!
Every 2nd person we meet in the office or in family gatherings has a Samsung phone in his hands. Although Apple is very famous among this generation but being expensive cuts down Apple’s share to Samsung. Since not every single person in Generation Y is very rich, they go buying Samsung. It is not only phones in which millennials prefer Samsung over any other brand but other home appliances such as televisions, fridge, etc.
Samsung Galaxy series phones and tablets are on its peak of selling and mostly being bought by millennials. The reason behind its tremendous success is unique designs of its products, good customer service, reasonable prices, and durability of goods and last but not least the quality is not compromised even if its prices are not so much high as other brands.
“Coke? Hey, where is it? Really need one.” Here the question arises why only Coca-Cola? There are many brands out there in the market selling cola and soda drinks. But, if you ask a millennial his first and final answer will be “Coca-Cola”. The brand image of Coca-Cola is very strong that it cannot be blurred.
The Reason Of Being One Of The Millennial Brands
It is the uniqueness of ideas this company uses. As well as, its no compromise on taste and quality principle they adapted since the start. That’s what we explained earlier “You don’t compromise quality your numbers are not compromised by consumers”. “Share a Coke with” campaign was a great shot from the company. And, according to an online survey, Millennials were the largest group to support and like this idea. According to a random survey, every 4 out of 5 people like to drink Coca-Cola brand soda drinks over Pepsi. Let us know which of these millennial brands is your most liked!