Sunday, April 14, 2024

Global brands ‘cooler’ than local ones – millennials

Millennial and generation-Z shoppers continue to favour big global brands over local ones, according to a new survey.

There’s increasing demand for local or national manufactured products across Europe. But the latest IRI survey identifies an underlying contrast when segmenting shoppers by age.

IRI’s European Shopper Survey has revealed that while millennials in Europe love big FMCG brands, they’re overlooking smaller niche ones.

‘Cool’ and ‘more innovative’

When it comes to groceries, 18 to 24-year-old shoppers, often referred to as millennials or generation Z, would rather fill their cupboards with big-brand names. The reason is that they perceive big brands as “cool” and “more innovative” compared with local ones.

IRI Senior Regional Insights Manager Olly Abotorabi said: “Big brands are alive and well among younger shoppers throughout Europe.

“Those that are using digital technology to reach their target audience resonate well with this younger, globally connected generation.

“Our research shows an increasing preference by European shoppers for locally supplied items. However, when we look more closely at the segmented age groups, we find that the youngest shoppers prefer bigger, more visible brands when purchasing groceries.”

Using the internet

IRI’s survey also revealed 66 per cent of millennials use the internet to research information about new products. This is a higher proportion than for those aged over 34 years (45 per cent).

YouTube is a consistently popular source of information. Twenty-four per cent of young millennials opt for this channel compared with just 11 per cent of over 34-year-olds.

Finally, social media, blogs, apps, forums and reviews were also popular with 18 to 34-year-olds. They use these sources to search for information about store promotions and specific product ratings.

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