Consumers’ habits and trends

This article serves to help companies to gain a better understanding of the Millennials in order to capture their share of the market effectively.

Based on research and statistics, we drew the following conclusions on the target segment and their behaviour.

1. Millennials want High quality food at Cheap Price

2. Millennials are Health Conscious and Price Sensitive

3. “Photogenic” Foods

4. Transparency of Food, and social & environmental responsibility

5. Adventurous, keen to explore new and innovative flavours

6. Rely on reviews for the choice of brand

7. Willingness to pay more for premium products

1. Millennials want High quality food at Cheap Price

The Millennial generation values both quality and price competitiveness. Food companies are now putting more emphasis on health and high-quality ingredients in order to appeal to Millennials. For example, the makers of Oreo launched “Oreo Thins”, a slimmed-down version of the original Oreo Cookie which contains lesser cream filling and calories, which then generated USD $60 million in sales.

Additionally, cheap restaurant chains targeting Millennials are gaining popularity in Japan recently. Major…