As the buying power of Millennials increases, so does the demand for product personalization. According to a study by Advertising Age, by 2017 Millennials are expected to spend $200 billion annually, making them the largest consumer generation in history. This generation is known for being tech-savvy, digital-driven, and highly brand loyal. But how do you reach them when they’re constantly absorbing information? How can your brand cut through the noise and create something attention-grabbing? Product personalization.
Create an Attention-Grabbing Product
Before developing a marketing strategy focused on personalization, your product itself, its packaging, and the display need to be considered. Is the packaging and display unique, eye-grabbing, and customized? Will this Millennial consumer, who is short on time and attention, notice your product over your competitors’? If this consumer does notice your product, will it speak to them enough to be placed in their shopping cart? So much to consider! Where do you start?
Find A Supply Chain Partner
A good first step is to seek out a customized packaging solution and to choose a true supply chain partner who can leverage their expertise to guide you through the process from start to finish. If you’re looking for end-to-end solutions, a company like Menasha provides solutions for retail merchandising, retail product packaging, shipping packaging, supply chain, smart displays and signage, print and design, and Rx-to-OTC.
Customize Your Display
Once you’ve chosen your supply chain partner, it’s time to work with them on customizing your product’s packaging and display, creating a personalized in-store experience for the Millennial consumer.
“Nearly one quarter of consumers like packaging that has an appealing design [dedicated to a] limited edition, seasonal or special release,” according to the Mintel report, Marketing to Millennials.
Together, you’ll want to consider:
- brand objectives
- retail and category insights
- design and activation
- merchandising supply chain assessment
- contract packaging kitting and fulfillment
- distribution and logistics
- and tracking and a scorecard.
Again, a lot to think about. But with an experienced and knowledgeable supply chain partner, an understanding of what inspires their brand loyalty, and a personalized product approach, you’re well on your way to capturing the Millennials’ attention and market share.