Millennials and Sustainability: Ethical is the new black
- Apr 21, 2018
- 2 min read
Updated: Apr 22, 2018
Who are they?
Millennials are the generational cohort born between 1980 -2000, also known as Generation Y ( or Gen Y). Grownup with the rapid changes made their preferences sharply contrasted to the previous generation group (Gen X).
They are emerging as the largest consumer group in coming years accounting to 56% of the total global population and to entertain this different world of generic brands has to focus on the changing demands and traits of the coming prominent consumers not to just sustain but to aim for the greater profit margin.
Millennials are price picky and window shoppers, they like to compare the product before spending any penny on it and as the pressure on disposable income persists, the demand of buying sustainable fashion preferences are getting affected and not in favour. So, to attract this consumer group the product should offer more than just tag of sustainability to it.
Millennials are story buyers, the more they get engaged with the product more they'll feel connected to it.They don't bother to pay extra money if the purchase is related to a cause or have an emotional touch to it, it makes them feel they are contributing to a greater good in the society.
They are responsible buyers who would appreciate the originality of the product more which may be seen as a transparency in manufacturing chain and builds the trust between consumer and the product. So, it would be best if the product holds both originality and sustainability aspect.
Millennials are acceptors of new experiments, they celebrate new ideas and new experiences. Combining it with sustainability will lead not just the innovation of the product but addressing a new technique to attract the buyer also.
Comments