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# millennialtalk

# millennialtalk. Marketing to the me generation. Carman Allison VP Consumer Insights - Canada. The Challenge for growth. Cpg STILL SPUTTERING FOR growth IN north America. Canada. United States. + 1.1. +1.4. + 0.2. - 0.1. Dollars. Units. Dollars. Units.

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# millennialtalk

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  1. #millennialtalk

    Marketing to the me generation Carman Allison VP Consumer Insights - Canada
  2. The Challenge for growth
  3. Cpg STILL SPUTTERING FOR growth IN north America Canada United States +1.1 +1.4 +0.2 -0.1 Dollars Units Dollars Units Nielsen: MarketTrack - Total Tracked Sale 52 wks ending March 8, 2014 Nielsen: ScanTrack - Total Tracked Sale 52 wks ending March 25, 2014
  4. 2014 is starting off slow Slow growth, driven only by inflation Source: Nielsen MarketTrack, National All Channels – 52weeks to March 8, 2014 - Total Tracked Sales excluding Fresh Random Weight
  5. Trends impacting growth Cyclical Changes Economy still fragile Cautious Consumer Structural Changes Value Motivators Retail, Redefined Connected Consumer Evolving Consumer
  6. Video
  7. Millennials are… First generation to grow up with the internet Most familiar with technology than previous generations Consumers of the future Entering the work force Redefininghow wecommunicate
  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% Millions 7.9 9.1 2.4 9.6 5.5 Source: Statistics Canada – Census 2011
  9. Currently millennials are under represented in purchasing power Millennials’ Importance 26% 14% 12% % of Population 9.1 M % Household Heads 2.0 M % of CPG $’s 11.7 B Source: Source Nielsen Homescan – 52 weeks to March 29, 2014
  10. “ 42% of Millennials between 20-29 years old still live at home ” Source: Statistics Canada – Census 2011
  11. Millennials spend 18% less Spend Per Household $7,214 $5,899 Total Millennials Source: Nielsen Homescan 52 weeks to March 29, 2014 – HH <35 years
  12. Eating occasions Only 68% of Millennial meal occasions occur in the home Millennials Boomers 68% IN HOME IN HOME 79% 38%of Millennials vs. 32%of Boomers are more likely to prefer immediateprep time In Home meals Source: Nielsen Consumption Diary, Time Period: Q2 2013 -Q1 2014
  13. Generation why?
  14. How about 24 Billion reasons? Today $11.7 Billion 12% of CPG Growth Opportunity in 10 years: $10.0 Billion New Households $14.3 Billion Increased Consumption 2024 $24.3 Billion 23% of CPG Source: Nielsen Homescan 52 weeks to March 29, 2014 – HH <35 years – Based on older generation spend
  15. Millennials will surpass boomers by 2020 2010 2020 2030 8.9 M 10.0 M 11.0 M 9.7 M 9.4 M 8.3 M Total Canada 34.2 M 38.4 M 42.1 M Boomers Millennials Source: Statistics Canada M: Millions
  16. The CPG growth engine will switch gears By 2020… MILLENNIALS BOOMERS -$4.3 B -9% +$12.6 B +207% Source: Nielsen Homescan 52 weeks to March 29, 2014 – HH <35 years – Based on older generation spend
  17. Aging in and aging out As consumers age, they change their consumption of key CPG departments + + - - - - - - - - Nielsen Homescan – Dollar Consumption Index – 52 wks to December 28, 2013 – Consumer Facts CPG Departments
  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)
  19. High unemployment rates Expensive house market Staying in school longer Delaying Marriage Urban Cultural
  20. Post Secondary Educated Single 43% 54% 61% Rent their residence Source: Nielsen Spectra, March 2014 - < 35 years old
  21. Millennials: Find us in cities Top Cities:Population Index (100=26%) 79% Vancouver 136 St. Johns NF 123 Calgary 120 Montreal 118 Regina 115 Toronto 112 Saint John NB 110 Halifax 109 Ottawa 109 Winnipeg 109 % who live in a CMA (Census Metropolitan Area) Source: Stats Canada 2011 Census , Nielsen Spectra, March 2014 <35 years old
  22. Millennials are more diverse For visible minorities… 7out of 10 Visible Minorities are first generationCanadian… 33.4Average age vs Canada: 40.1 Source: Statistics Canada
  23. “ 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) Another10% planning to buy Source: Nielsen Global Online Consumer Confidence Surveys, Q3 2013 - Canada – Nielsen 2013 Gas Impact Survey
  24. Younger generations are plagued with higher levels of unemployment Unemployment Rates 64%feel positive about their personal finances (vs 52% CA) 14%unemployed(under 25) 60% Report excellent or good job prospects (vs 68% CA) However Canada: 7% 10% have no spare cash (vs 20% CA) Source: Statistics Canada, December 2013 Source: Nielsen Global Online Consumer Confidence Surveys, Q1 2014 - Canada
  25. Not as cash strapped as you would think > $100K 12% 18% < $30K $30K - $70K > $70K Millennials Canada Source: Statistics Canada
  26. 99 35-54 89 55+ 106 <35 Millennials are more confident than older generations Source: Nielsen Global Online Consumer Confidence Surveys, Q1 2014 - Canada Consumer Confidence Index by age group
  27. “ Despite being optimistic, I still demand value and authenticity. ”
  28. Easily persuaded to buy a different brand (index: 122) The loyalty challenge Price, first thing to look at when purchasing (index: 120) Shop at stores with lower prices (index: 114) Buy more private label (index: 125) Source: Nielsen Global Online Consumer Confidence Surveys, Q4 2013 - Canada Nielsen, PanelViews, Economic Impact, survey 2013 Nielsen, PanelViews, Consumer Opinions survey, 2013
  29. MILLENNIALS SPEND Almost 4 out of every 10 cpg Dollars in Discount retailers Discount Dollar Loyalty CHANNEL $ LOYALTY M T 30% Grocery 46% 43% Drug 4% 6% Mass 16% 12% W-Club 9% 11% Millennials Total CA Source: Nielsen Homescan 52 weeks to March 29, 2014 – Total Tracked upc’s
  30. The millennial #grocerytrip Over 50% check reviews & coupons online 57% know the stores that offer the best price 73% prefer a “one stop shop” experience 51% say trips are “quick trips” 60% would prefer loyalty card on their phone, not plastic 73% say price is the first thing to look at when purchasing 49% will buy more for loyalty points 41% would use their phone to pay Nielsen, PanelViews, Social Media, survey 2013
  31. Authentic, creative and diverse Millennials support social causes 44% shop at retailers that 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 Source: Nielsen Global Online Consumer Confidence Surveys, Q1 2013 - Canada
  32. “ I want to watch what I want, when I want… and for free. ”
  33. Media habits differ between generations Media Usage Boomers Millennial LIGHT HEAVY MEDIUM TV Internet Magazines Newspaper Radio Source: Nielsen Spectra, PMB , January 2014
  34. Over the past 3 years, MILLENNIALS ARE WATCHING LESS traditional television 2012 2013 2014 3.0 hrs/day Millennials 22hr 48min 22hr 29min 20hr 52min Boomers 33hr 36min 33hr 47min 33hr 59min 4.9 hrs/day Source: Nielsen Borealis; TV Data Source: BBM Canada
  35. Top 10 TV series among millennials in 2013 Boomers Amazing Race Canada 1 Big Bang Theory 3 Masterchef 58 Stanley Cup Finals 5 Sochi 2014 6 La Voix 2 Agents of S.H.I.E.L.D 53 Under the Dome 4 Amazing Race 9 Grey’s Anatomy 22 FEMALES:7 of 10 are reality shows MALES: 2 of 10 are reality shows Source: Nielsen Borealis; TV Data Source: BBM Canada – TV Series Excluding specials
  36. Millennials are cutting the cord % with no cable or TV subscription 26% 12% Millennials Boomers Source: Nielsen Spectra, 2014 Mar
  37. Less cable but more online media Millennials Boomers 46% News Websites 23% 34% Watch TV online 5% 26% Newspapers Online 14% 22% Radio Online 7% Source: December 2013 Nielsen PanelViewsSocial Media Survey
  38. “ We can post, tweet and text all about it, right now, 24/7, globally, anytime, anywhere. ”
  39. Power at their fingertips % Total Ownership % Millennials Ownership 79% 51% 12%expected to buy in next year 7%expected to buy in next year 63%potential ownership 86%potential ownership! Source: Nielsen PanelViews, Social Media Survey, 2013
  40. Leading to online sales E-commerce M-commerce 70%have purchased from an online store 65%have purchased or are willing to purchase via virtual store Nielsen, PanelViews, Social Media, survey 2013
  41. What are Millennials buying online? and willing to buy online? 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 Source: Canadian PanelViews Social Media Survey Oct 2013
  42. What are Millennials buying online and willing to buy online? 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 Source: Canadian PanelViews Social Media Survey Oct 2013
  43. Source: Forbes MAKING THE MOST OF THE $24B OPPORTUNITY Engagethem through effective and efficient marketing Activateplans through superior sales execution Identify your best customers Develop products and content to meet their needs
  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 Q4 2011 Stay Connected to Consumer and Media Trends Visit us online at nielsen.com Download Nielsen’s TopTen App
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