Starting with the Boomers and Matures back in June, we walked you through the voice of each generation by talking to real people and getting into their heads to glean insights for you about what they think about the industry. Real effort went into finding people from around the country with different backgrounds but a willingness to share something about themselves.
We could have gone the traditional route and created a series on generational selling by relying on what’s already been done by other people in the area of market research and trend analysis. Yes, we looked at some of that information, but we wanted to take it further.
A few universal truths emerged in this month’s interviews: Gen Z (call them iGen if you will as they are the first generation born into an era when smart phones were the norm.)
• Meat is going, but taste still matters. Impossible Foods has raised $450 million and is expanding production in Oakland, CA, with a goal of being the clear taste-taste winner over burgers from cow’s meat by the end of 2018. Our Gen Z panel skewed vegan and vegetarian and the reason was partly health but also an objection to the waste involved in the production of meat. In the case of our vegans, it extends to all animals.
• Animal cruelty is top of mind where HABA products are concerned. Be sure you’re stocking some.
• Supplements are perceived as too expensive or not necessarily effective. How can you deliver a message or create a product for this group that resonates enough to make them your customer and keep them your customer?
Growing up exposed to SharkTank and easy access to the world through the internet, Gen Z is entrepreneurial. Consider taking in products on consignment or hosting events where they can showcase their talents and make some money.
Crack the college conundrum. Are you in a college market? Where can you partner? Get into high schools if you’re not already.
Watch what’s happening with Brandless, the company that created a no-B.S. “brand” and just scored another $240 million round of funding. It launched last year and is now up to 300+ products, each costing $3. Simple. Cost-effective. Supplements are in the mix. There’s a cause involved.
Brandless merchandises by values:
• Certified Organic
• Non GMO
• Gluten Free
• Cruelty Free
• Tree Free
• Sulfate Free
• Phthalate Free
• GOTS Certified
• Paraben Free
• Mineral Oil Free
• Petroleum Free.
Don’t sit back. Move forward. Keep your head in the game. You can do that, too!