Millennial consumers’ buying power is expected to reach nearly $3 trillion in 2016, making it critical that marketers in the food and beverage industry understand what makes millennials tick in order to effectively reach them.
One thing we’ve learned is that millennials are attracted to authentic, trustworthy brands that they feel a genuine connection with. Millennials are increasingly seeking out ethical and more transparent alternatives to brands that use conventional fast, mass production processes, for example:
- 59 percent of millennials will stop buying a brand’s products if they believe the brand is unethical or untrustworthy
- 58 percent of millennials agree that purchasing decisions reflect a person’s personal values
- 74 percent wish food companies were more transparent about how they make their products
So how can brands be more transparent? Simply put: Communication is key. Here are three examples of companies that are leading the way in transparency and operational visibility:More