Millennials on Millennials
As we enter 2018, the Canadian fast-moving consumer goods (FMCG) landscape continues to face challenges. Dollar sales growth in the FMCG industry slowed to just 2% by the end of 2017, signaling the need for retailers and manufacturers to remain adaptive and agile in navigating the path forward.
Consumers are making fewer trips, and we’re seeing a fundamental change in what we’ve traditionally considered to be the consumer’s path-to-purchase. What was once linear is now a convoluted and complex journey that crosses many places, platforms and processes. With this added complexity comes ample challenges to how brands compete for share of consumers’ minds and wallets.
Planning ahead requires careful thought into understanding the new paths-to-purchase. Digital disruption and seismic population shifts are upon us, and Millennials are at the helm of these changes. These consumers are in their early adulthood, approaching key milestones while still intertwined and influenced by the generations before them. This generation is quite literally the future, but understanding and harnessing their purchasing power can be a daunting task.