Millennials as a generation are a force to be reckoned with. If you don’t believe it, just ask them. That’s what Baking & Snack did for its December issue with its three millennial-aged editors — Charlotte Atchley, senior editor; Nico Roesler, managing editor; and Anna Wiber, digital media associate editor — who provided awesome insights into how their generation is a force to be reckoned with.
With 83.1 million Americans classified as millennials by the Census Bureau, this group represents a fourth of the country’s population. By 2018, the projected income of millennials will be about $3.39 trillion annually, blowing past baby boomers — although a few boomer parents may suggest a tiny portion of that spending power comes from them.
Despite this power, our editors state that millennials can be picky about how they spend their money. Saddled with student debt and coming of age during a recession, millennials want their purchases to reflect their values. They have equated dollars with democracy … and vote with what our editors call the almighty dollar.
“We want something for our money — not just calories to fill bellies,” our editorial team noted.
Millennials are looking for healthy food, which they often equate to simple ingredients they recognize, non-G.M.O. and organic. Additionally, millennials also want to support companies that reflect their own values: companies that are giving back to the environment and/or communities and those supporting an ethical supply chain.“This is how companies gain brand loyalty from a generation marked by skepticism and motivated by price,” our editors observed. Yes, this is a powerful, unique and courageous generation that will influence our industry for decades to come.