MILLENNIAL KEY LEARNINGS—January 24, 2020

Rohan Madhav Modwel

·

Follow

Published in

The Mavericks

·

2 min read

·

Jan 24, 2020

--

Listen

Share

Gen Z and their approach towards wellness

1. Depressive symptoms among Generation Z are about two-thirds higher than those in the millennial generation.
2. The influence of Instagrammers points to a shift in the way wellness products are marketed, especially in fitness and beauty.
3. In particular, this digitally savvy generation is more likely to pay attention to social media advertising. Young adults are more likely to buy a product if it has good reviews by YouTubers and Instagrammers they follow.
4. Trifecta Research’s survey found that 70% of Gen Z watches two hours of YouTube daily and the same percentage consults the platform before making a purchase.
5. 71% of Gen Z discovers new fitness opportunities on social media.
6. The Mavericks constantly initiates various activities for clients across the beauty, fitness, and wellness industries. A social media-oriented mindset amongst Gen Z was evident in our work with clients, which included initiation of activities such as gifting, center launches, reviews, and other influencer-based initiatives that would help ensure that the Gen Z base is aligned with a particular brand.

Millennials’ changing preferences in the food service industry

1. In a survey by the online order platform Opentable, for which around 2,000 people were questioned between January and February 2019, 10% of millennials stated that they preferred vegetarian dishes. Only 3% of respondents amongst the older generation identified with this diet.
2. In general, the expectations which guests bring to food service is high: 55 percent of those surveyed by Opentable expect that proper notice will be taken of their individual wishes when ordering a dish, or that they will at least be offered an alternative.
3. In the matter of selecting restaurants, millennials also act differently. They are assiduous users of social media — when it comes to visiting restaurants, too: More than half (57%) of millennials use social media to find a restaurant, while this is true of only 29% of the older generations.
4. Online evaluations by other guests are considered relevant. The study states that 70% of millennials trust the judgement of other visitors on internet portals, while only 26% trust professional reviews in newspapers or magazines.
5. The Mavericks conducted an influencer meet for Lavazza, where influencers experienced the history of coffee from different regions like Brazil, Columbia, India etc. Widespread engagement could be seen on their profiles through related posts. This reinforces the impact social media has on millennials, when it comes to participation in a holistic brand ‘experience’.