NEW YORK — It’s time to stop assuming all millennials care about is avocado toast and Instagram. Matter of fact, it’s time to stop focusing on millennials period. While marketers often generalize consumer profiles, a recent Deloitte study shows that targeting consumers by attitudes about shopping rather than age/stereotypes might lead to more when it comes to marketing. Some myths the study debunked include:
- Myth 1: Gen Z predominantly shops online: In fact, they don’t shop online even a majority of the time! All age groups, including Gen Z, prefer a mix of online shopping and shopping in physical stores. Gen Z reported shopping in a physical store for food and beverages 68% of the time, household care products 58% and personal care items 51%, only favoring online shopping for apparel & footwear.
- Myth 2: Younger generations aren’t interested in traditional brands: Study results reveal that interest in brands is alive and well—87% of Millennials and Gen Z adults report purchasing name brands. In key areas of health foods, nutrition, and grooming products, this group prefers well-known name brands over store brands, likely because they are averse to taking risks with these products. Ironically, it’s Gen X and Baby Boomers who were found to be less interested in brands, having grown to accept store brands.
- Myth 3: Older generations don’t “like” social media: The study shows that consumers in all age groups are exposed to at least onesocial media platform a day and at least seven in 10 consumers engage on Facebook. Millennials and Gen Z adults were found to use social media to research products and interact with brands, while Gen X and Baby Boomers typically don’t create content, but use social media to read reviews and product ratings before purchasing new products.