Understanding the Millennials: The Rise of Young Adult Consumers in India

Introduction

Amid an aging population, Millennials account for close to 50% of the base between Millennials, Gen Xers, and Boomers. Also, most well-established FMCG product categories in India have a major share of their market accounted for by Millennials. Given the fast-changing attitudes and behavior of the Millennials, they need specific understanding for FMCG brands to be profitable on the long run.

Features and benefits

• Draws from insights obtained through two waves of Annual Consumer Surveys conducted in India between 2010 and 2011.
• The report presents patterns in Millennials' media usage, socializing, and other lifestyle attributes, and distilling actionable insights from within
• The analysis is not only within the Millennials, but also presents key differences with respect to older generations such as Gen X-ers and Boomers.
• Relevant case studies and brand analyses in the report make for robust contextual understanding of successful efforts to connect with Millennials.
• The report presents tangible product areas and marketing communication opportunities, that FMCG firms need to use to connect with the Millennials.

Highlights

• Having grown up in a more liberal society, with diverse product categories, experiences, and avenues to express their thoughts, Millennials place a lot of importance on "brand me". While most brands try to build a strong connect with what the brand stands for, Millennials rate “individuality” and “being able to express oneself” as more important.
• A key differential in the case of Millennials as compared to older consumers is the use of a variety of media in addition to word-of-mouth. Living in a world of collaborative intelligence, Millennials are conversant with not only traditional Indian know-how, but also best practices from across the world.
• Calories consciousness extends to even eating at home, and is more pronounced than eating out. Compared to the previous generation, the Millennials are part of a ‘visual society’, where an increasing stress on appearance heavily dictates what constitutes the dietary regime.

Table Of Contents

OVERVIEW
Summary

OVERVIEW
(Untitled section)
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Introduction
Features and Benefits
Highlights
Key questions answered
Keywords
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