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Marketing to the me generation

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  • In closing, let’s review a few key takeaways:

    Find Us in the Cities: Millennials are everywhere, but place a premium on the urban lifestyle, even if its in the suburbs.

    Respect our Authenticity, Creativity and Diversity: Keep it real. Engage them to become more than a recipient of information, but rather—a brand ambassador.

    Support our Causes: Millennials care about social issues. They love crowd-sourcing philanthropy so make giving and involvement easy; share socially to broaden appeal

    Give Us a Deal: Small paychecks may impede their desire for the latest and greatest, so Millennials often need a deal in order to buy. Commiserate with their condition.

    Reach Us via Social Media and Mobile: Reach their friends but respect the collective, they’ll be more likely to engage.

    Relate to Us: Millennials are receptive to messages that use celebrity endorsements or relatable characters and themes. They appreciate event sponsorship, and are more likely to buy brands associated to their favorite artists, events, and causes.

    And with that, I’ll bring it back to Beth for our Q&A wrap-up.
  • Transcript

    • 1. MARKETING TO THE ME GENERATION Carman Allison VP Consumer Insights - Canada #MILLENNIALTALK
    • 2. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 2 THE CHALLENGE FOR GROWTH
    • 3. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 3 CPG STILL SPUTTERING FOR GROWTH IN NORTH AMERICA United States Nielsen: MarketTrack - Total Tracked Sale 52 wks ending March 8, 2014 Canada +1.4 +0.2 Dollars Nielsen: ScanTrack - Total Tracked Sale 52 wks ending March 25, 2014 UnitsDollars Units +1.1 -0.1
    • 4. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 4 5 2 2 2 2 2 0 2 0 0 0 1 2009 2010 2011 2012 2013 Q1 2014 $ % Chg Unit % Chg Inflation +5 +0 +2 +2 +2 +1 2014 IS STARTING OFF SLOW Source: Nielsen MarketTrack, National All Channels – 52weeks to March 8, 2014 - Total Tracked Sales excluding Fresh Random Weight Slow growth, driven only by inflation
    • 5. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 5 TRENDS IMPACTING GROWTH • Economy still fragile • Cautious Consumer Cyclical Changes • Value Motivators • Retail, Redefined • Connected Consumer • Evolving Consumer Structural Changes
    • 6. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 6 Video
    • 7. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 7 MILLENNIALS ARE… Redefining how we communicate First generation to grow up with the internet Most familiar with technology than previous generations Entering the work force Consumers of the future
    • 8. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 8 COMMON GENERATIONAL DEFINITIONS While there are many generalizations, there is no “official” definition <20 ‘Gen Z’ 23% 19-37 ‘Gen Y’ 26% 38-47 ‘Gen X’ 7% 48-67 ‘Boomers’ 28% 68+ ‘GI’ 16% Source: Statistics Canada – Census 2011 7.9 9.1 2.4 9.6 5.5Millions
    • 9. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 9 CURRENTLY MILLENNIALS ARE UNDER REPRESENTED IN PURCHASING POWER Millennials’ Importance 26% Source: Source Nielsen Homescan – 52 weeks to March 29, 2014 14% 12% % of Population 9.1 M % Household Heads 2.0 M % of CPG $’s 11.7 B
    • 10. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 10 42% of Millennials between 20-29 years old still live at home “ ” Source: Statistics Canada – Census 2011
    • 11. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 11 MILLENNIALS SPEND 18% LESS Spend Per Household Total Millennials $7,214 $5,899 Source: Nielsen Homescan 52 weeks to March 29, 2014 – HH <35 years
    • 12. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 12 EATING OCCASIONS Millennials Boomers 79% In Home meals 68% Only 68% of Millennial meal occasions occur in the home 38% of Millennials vs. 32% of Boomers are more likely to prefer immediate prep time Source: Nielsen Consumption Diary, Time Period: Q2 2013 -Q1 2014 IN HOME IN HOME
    • 13. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 13 GENERATION WHY?
    • 14. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 14 HOW ABOUT 24 BILLION REASONS? 2024 $24.3 Billion 23% of CPG Growth Opportunity in 10 years: New Households $10.0 Billion Increased Consumption $14.3 Billion Today $11.7 Billion 12% of CPG Source: Nielsen Homescan 52 weeks to March 29, 2014 – HH <35 years – Based on older generation spend
    • 15. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 15 Source: Statistics Canada M: Millions 2010 2020 2030 Millennials Boomers MILLENNIALS WILL SURPASS BOOMERS BY 2020 26% 28% 8.9 M 9.7 M 26% 24% 10.0 M 9.4 M 26% 20% 11.0 M 8.3 M 34.2 M 38.4 M 42.1 M Total Canada
    • 16. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 16 THE CPG GROWTH ENGINE WILL SWITCH GEARS By 2020… Source: Nielsen Homescan 52 weeks to March 29, 2014 – HH <35 years – Based on older generation spend MILLENNIALS BOOMERS +$12.6 B +207% -$4.3 B -9%
    • 17. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 17 AGING IN AND AGING OUT Nielsen Homescan – Dollar Consumption Index – 52 wks to December 28, 2013 – Consumer Facts CPG Departments HH Dollar Index 55-64 yrs 65+ yrs Trend OTC 118 146 Baking Needs 103 106 Pet Needs 136 89 Paper Products 109 95 Oral Hygiene 107 100 Confectionery 106 87 Bakery 104 90 Beverages 103 81 Household Products 101 90 Condiments & Sauces 101 89 As consumers age, they change their consumption of key CPG departments + + - - - - - - - -
    • 18. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 18 WHICH CPG DEPARTMENTS ARE MOST COMMONLY FOUND IN A MILLENNIALS’ SHOPPING BASKET? Nielsen Homescan – Dollar Consumption Index – 52 wks to December 28, 2013 – Consumer Facts CPG Departments Relative Index (82 for total) Relative Dollar Index <35 years Baby Care 384 Desserts 150 Body Care 122 Hair Care 120 Prepared Foods 120 Refrigeration & Dairy 118 Frozen Food 114 Snack Foods 112 Produce 111 Condiments & Sauces 111
    • 19. Expensive house market High unemployment rates Staying in school longer Urban Cultural Delaying Marriage
    • 20. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 20Source: Nielsen Spectra, March 2014 - < 35 years old Post Secondary Educated 54% Single 61% 43% Rent their residence
    • 21. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 21 MILLENNIALS: FIND US IN CITIES 79% Source: Stats Canada 2011 Census , Nielsen Spectra, March 2014 <35 years old % who live in a CMA (Census Metropolitan Area) Top Cities: Population Index (100=26%) Vancouver 136 St. Johns NF 123 Calgary 120 Montreal 118 Regina 115 Toronto 112 Saint John NB 110 Halifax 109 Ottawa 109 Winnipeg 109
    • 22. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 22 MILLENNIALS ARE MORE DIVERSE Source: Statistics Canada For visible minorities… Canada: 40.1 33.4 Average age vs 7 out of 10Visible Minorities are first generation Canadian…
    • 23. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 23Source: Nielsen Global Online Consumer Confidence Surveys, Q3 2013 - Canada – Nielsen 2013 Gas Impact Survey I do not intend to buy a car in the near future (34%) I wish I could get where I am going conveniently without a car (72%) A car is simply a tool to get me where I am going (81%) “ 12% don’t own a car (vs 8% population) 7% own a hybrid/electric (vs 8% population) Another 10% planning to buy
    • 24. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 24 YOUNGER GENERATIONS ARE PLAGUED WITH HIGHER LEVELS OF UNEMPLOYMENT Source: Statistics Canada, December 2013 Source: Nielsen Global Online Consumer Confidence Surveys, Q1 2014 - Canada Unemployment Rates Canada: 7% However 64%feel positive about their personal finances (vs 52% CA) 60% Report excellent or good job prospects (vs 68% CA) 10% have no spare cash (vs 20% CA) 14% unemployed (under 25)
    • 25. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 25 Source: Statistics Canada 39% 36% < $30K $30K - $70K > $70K > $100K 26% 21% 36% 43% Millennials Canada NOT AS CASH STRAPPED AS YOU WOULD THINK 12% 18%
    • 26. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 26Source: Nielsen Global Online Consumer Confidence Surveys, Q1 2014 - Canada 106 <35 89 55+ 99 35-54 MILLENNIALS ARE MORE CONFIDENT THAN OLDER GENERATIONS Consumer Confidence Index by age group
    • 27. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 27 Despite being optimistic, I still demand value and authenticity. “ ”
    • 28. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 28 Source: Nielsen Global Online Consumer Confidence Surveys, Q4 2013 - Canada Nielsen, PanelViews, Economic Impact, survey 2013 Nielsen, PanelViews, Consumer Opinions survey, 2013 THE LOYALTY CHALLENGE Buy more private label (index: 125) Shop at stores with lower prices (index: 114) 73% Price, first thing to look at when purchasing (index: 120) 81% 76% 70% Easily persuaded to buy a different brand (index: 122)
    • 29. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 29 39% 30% MILLENNIALS SPEND ALMOST 4 OUT OF EVERY 10 CPG DOLLARS IN DISCOUNT RETAILERS Source: Nielsen Homescan 52 weeks to March 29, 2014 – Total Tracked upc’s Discount Dollar Loyalty Millennials Total CA 30% CHANNEL $ LOYALTY Grocery 46% 43% Drug 4% 6% Mass 16% 12% W-Club 9% 11% M T
    • 30. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 30 THE MILLENNIAL #GROCERYTRIP Nielsen, PanelViews, Social Media, survey 2013 Over 50% check reviews & coupons online 57% know the stores that offer the best price 49% will buy more for loyalty points 73% prefer a “one stop shop” experience 51% say trips are “quick trips” 41% would use their phone to pay 73% say price is the first thing to look at when purchasing 60% would prefer loyalty card on their phone, not plastic
    • 31. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 31 MILLENNIALS SUPPORT SOCIAL CAUSES 70% Find it important to have programs to improve the environment 48% Will spend more on products from socially responsible companies 44% Has purchased from a company that gives back to society 44% shop at retailers that support social causes Authentic, creative and diverse Source: Nielsen Global Online Consumer Confidence Surveys, Q1 2013 - Canada
    • 32. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 32 I want to watch what I want, when I want… and for free. “ ”
    • 33. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 33 Media Usage MEDIA HABITS DIFFER BETWEEN GENERATIONS Source: Nielsen Spectra, PMB , January 2014 Boomers Millennial TV Internet Magazines Newspaper Radio LIGHT HEAVYMEDIUM
    • 34. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 34 Source: Nielsen Borealis; TV Data Source: BBM Canada Millennials Boomers OVER THE PAST 3 YEARS, MILLENNIALS ARE WATCHING LESS TRADITIONAL TELEVISION 2012 2013 2014 22hr 48min 33hr 36min 22hr 29min 33hr 47min 20hr 52min 33hr 59min 4.9 hrs/day 3.0 hrs/day
    • 35. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 35 TOP 10 TV SERIES AMONG MILLENNIALS IN 2013 Source: Nielsen Borealis; TV Data Source: BBM Canada – TV Series Excluding specials 1. Amazing Race Canada 1 2. Big Bang Theory 3 3. Masterchef 58 4. Stanley Cup Finals 5 5. Sochi 2014 6 6. La Voix 2 7. Agents of S.H.I.E.L.D 53 8. Under the Dome 4 9. Amazing Race 9 10.Grey’s Anatomy 22 Boomers FEMALES: 7 of 10 are reality shows MALES: 2 of 10 are reality shows
    • 36. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 36 MILLENNIALS ARE CUTTING THE CORD % with no cable or TV subscription Millennials Boomers 26% 12% Source: Nielsen Spectra, 2014 Mar
    • 37. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 37 LESS CABLE BUT MORE ONLINE MEDIA 46% News Websites 34% Watch TV online 26% Newspapers Online 22% Radio Online Boomers 23% 5% 14% 7% Source: December 2013 Nielsen PanelViews Social Media Survey Millennials
    • 38. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 38 We can post, tweet and text all about it, right now, 24/7, globally, anytime, anywhere. “ ”
    • 39. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 39 POWER AT THEIR FINGERTIPS % Total Ownership 12%expected to buy in next year 63%potential ownership Source: Nielsen PanelViews, Social Media Survey, 2013 51% 7%expected to buy in next year 86%potential ownership! % Millennials Ownership 79%
    • 40. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 40 65% have purchased or are willing to purchase via virtual store 70% have purchased from an online store E-commerce M-commerce Nielsen, PanelViews, Social Media, survey 2013 LEADING TO ONLINE SALES
    • 41. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 41 WHAT ARE MILLENNIALS BUYING ONLINE? AND WILLING TO BUY ONLINE? Source: Canadian PanelViews Social Media Survey Oct 2013 Currently Buying Online 27% Toys 22% Health & Beauty 21% Cosmetics 15% Paper Products 12% Baby Products 11% Household Products 11% Confectionery 9% Pet Products 8% Non Perishable Food 7% OTC Drugs 7% Beverages 6% Perishable Food 5% Fresh Produce
    • 42. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 42 WHAT ARE MILLENNIALS BUYING ONLINE AND WILLING TO BUY ONLINE? Source: Canadian PanelViews Social Media Survey Oct 2013 Currently Buying Online Willing to Buy Online 27% Toys 22% Health & Beauty 21% Cosmetics 15% Paper Products 12% Baby Products 11% Household Products 11% Confectionery 9% Pet Products 8% Non Perishable Food 7% OTC Drugs 7% Beverages 6% Perishable Food 5% Fresh Produce 69% Paper Products 67% Household Products 60% Toys 58% Heath & Beauty 51% Pet Products 51% Confectionery 50% Cosmetics 50% OTC Drugs 49% Non Perishable Food 47% Beverages 43% Baby Products 27% Perishable Food 25% Fresh Produce
    • 43. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 43 MAKING THE MOST OF THE $24B OPPORTUNITY Activate plans through superior sales execution Engage them through effective and efficient marketing Identify your best customers Develop products and content to meet their needs Source: Forbes
    • 44. Copyright©2012TheNielsenCompany.Confidentialandproprietary. 44 AND ACT! Find us in cities (or still living with Mom & Dad) Respect our authenticity, creativity and diversity Support our causes; brands that are a good “friend” Give us a deal, but don’t scrimp on quality Reach us via social media and mobile; e-commerce Relate to us—make it relevant, personal, useful
    • 45. Consumer Shopping Behaviour Stay Connected to Consumer and Media Trends Visit us online at nielsen.com Download Nielsen’s TopTen App

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