Closing the Millennial Green Gap
In Ryan Lupberger's article on 5 reasons why millennials don't buy green brands - and a better way to reach them he discusses ways in which businesses can better reach and build trust with this large and influential group of consumers. I've highlighted below the important points he makes throughout the article as it relates to this weeks topic of the Green Gap.
- In the article he states that millennials find it difficult to find sustainable products because the marketing and distribution for them is so spread out and they're too expensive. Having these products not readily available at their nearby or local grocery store and having higher prices than their competitors can be very discouraging for this consumer group.
- The products can also support their want to live a more sustainable life but some green products just don't do the job the same way as their alternatives. In order to capture this segment green brands must be well-designed as well.
- There's also skepticism in green products because even though consumers care about the environment businesses branding themselves as "green" is just not enough to persuade them.
- So many products out there in the market businesses are competing against each other to see who can attract this group of consumers but with things like student loans and increased cost of living, commitment to sustainability just isn't their number one priority.
- With a spending power of nearly $3.5 billion dollars millennials are an important segment in the market. So in order to capture their attention and lead to action businesses must learn how to market their product effectively by having a well thought out product and having a genuinely sustainable supply chain.
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