Customize your Packaging for the Millennial Generation
Millennials are those who were born in the 1980s and 1990s. That would put them in the age group of 16-36, and if you consider their average age to be 26 years, that means they have just finished college and are in paying jobs now. For manufacturers, they represent a sizable proportion of the market (they are estimated to constitute 50% of the workforce by 2020), albeit one with high purchasing power.
If you want more millennials to buy your product, you need to consider their mindset and restructure your packaging (package design, label design, and so on) accordingly.
Are you ‘green’ enough?
Millennials make up a generation that cares about the environment. You need to check if your packaging is environmental-friendly. If not, now would be a good time to redesign your packaging so that you can add the universal recycling symbol ♻ to it. You might be surprised at how much it can improve sales.
Before buying a product, millennials tend to ask themselves, 'is this product an outward reflection of me?'. This is why they tend to opt for products manufactured by environmental-friendly companies. Being sensitive towards the environment is not the only trait that defines them. They also tend to be active on social media. It is a wise idea to list the ingredients and their percentages, even if you are not legally mandated to so that they do not grow suspicious of your product’s contents. Needless to say, that is not very encouraging towards sales. It has a ripple effect when they post on social media. Millennials trust people than companies. It becomes worse if your industry (not just your company) ever has had a history or even one incident, where the contents inside were found to be of inferior quality or toxic, and this was reported in the media. Millennials also use Google a lot, so it is not very hard for them to bring it up on social media and ask if that is the reason why you have not listed your ingredients.
Introducing a new line of packaging costs money, no doubt. If your margins are already under stress, you might have no choice but to pass it on the customer. This increases the product cost, but the millennial consumer is someone who does not look at the price, he/she looks at it from a value-for-money perspective. If your new packaging adds value in some way that justifies the increased price of the product, millennials might feel compelled to purchase more of it.