Jeff Fromm and Cherryh Butler: Brands Know Connection with Millennials Requires Innovation
Millennials are looking for brands to innovate, and most innovative brands from Amazon to Apple to Chipotle aren’t afraid to challenge status quo
Currently, millennials directly account for 21-to-25 percent of consumer discretionary spending in many categories. They are quickly becoming the largest consumer generation in the United States and brands are spending a significant amount of capital and time attempting to earn their love. However, the truth of the matter is that what millennials love more than anything is owning unique products or bragging about their “uncommon” experiences, which is why they are nearly obsessed with innovation.