Eurostat data shows Millennials accounted for 24% of the adult population in the European Union in 2013.
Elsewhere, 92m people aged 15-35 have become the largest generation in US history, outstripping Baby Boomers, according to Goldman Sachs.
How must the confectionery industry adapt to this typically single, tech-savvy, socially aware consumer base?
ConfectioneryNews will host an hour-long live debate titled ‘Reaching Millennial Consumers’ at the world’s largest confectionery trade fair ISM in Cologne from 12:30 to 1:30pm on Sunday 31 January.
The event at the ISM Stage (passage between halls 4 and 5) is free-to-attend for all ISM and ProSweets visitors.
What to expect
Bas Smit, global Marketing director of Barry Callebaut’s Food Manufacturers division will discuss chocolate formulation preferences for Millennials based on the industry-leading suppliers' latest research.
IRI Germany senior director Christoph Knoke will also provide insights on his organization’s findings on Millennial confectionery shopping habits in Germany, France and the US.
Jerwin Tholen, associate director at KPMG, will review Millennials’ impact on the industry.
In KPMG’s 2014 report - ‘A Taste of the Future - The trends that could transform the chocolate industry’ - it said Millennial are poised to drive shopping.
“They are much more skeptical about – and less loyal to – brands than baby boomers, and are harder to market to. Brands may need to woo millennials via celebrities and social media,” it said.
NPD for Millennials
Confectionery firms are already tailoring products to cater to Generation Y.
US chocolate leader Hershey recently collaborated with Millennial marketing students to redesign its Take5 brand.
Mondelēz has also teamed with eight tech start-ups to explore how technologies such as wearables, beacons and smart displays can boost sales for power brands such as Oreo and Trident.
Join us in Cologne on Sunday 31 January from 12:30 to 1:30pm at the ISM Stage (passage between halls 4 and 5). Add to your calendar.