Have Brands Adapted to Millennial Preferences?
Millennials are deemed as the socially, environmentally and health conscious generation, seeking organic and fair trade items compared to Generation X or Baby Boomers. Yet, within the space of chocolates do Millennials really hold onto the same ethics? A Hershey's funded study was taken on millennial consumers and their preferred choice of chocolates. The research showed that Millennials favor socially conscious and ethical products yet their purchases claim otherwise. Most millennials are reluctant to pay for the premium price that organic chocolates are fared at. In fact, the dominator factors were price, brand and ingredients which outweighed social factors.
Wellness trends have become an important habit concerning millennials and many brands must integrate healthier options and ingredients when marketing to this particular generation.
Chocolate manufactures have made an effort to align with millennial concerns with brands. For instance, Hershey and Nestle have replaced artificial dyes with natural flavors to better appeal to the millennial target group. Younger millennials from ages 18-20 seemed to be more concerned with labels and flavors that contained ingredients they recognized rather than advertisements for ethical sourcing. However, older millennials were more concerned with whether the chocolate was organic, fair trade, and GMO-free.
Despite this, the study concluded that regardless of millennials' preferences and their concern for the environment what they really took into consideration was the price. As a millennial myself, I must admit that I love a chocolate that tastes good and is beneficial as well. And while I prefer a brand that is environmentally friendly and organic, this is not the typical choice I make when I go to the store to make a purchase.
Cited Sources
Nieburg, O. (2016, January 04). Do Millennials really prefer ethical chocolate? Hershey-backed study investigates. https://www.confectionerynews.com/Article/2016/01/04/Do-Millennials-really-prefer-ethical-chocolate
Millennials say one thing but do another when choosing chocolate. (2016, February 08). https://www.sciencedaily.com/releases/2016/02/160208113013.htm