How can Consumer Healthcare companies better target the elusive Millennial shoppers? Does their in-store shopping behavior differ from other demographic groups such as Boomers?
NAILBITER recently conducted an extensive study of the shopping behaviors of various groups including Millennials across several consumer healthcare categories. For this study we observed 450 in-store shopping decisions via video across Grocery, Drug and Mass.
Millennials tend to be more Brand driven than Price driven when shopping for consumer health products. 57% of Millennials state Brand as a Reason for Purchasing one Analgesic over another. In contrast, only 37% of Boomers stated Brand and 71% based their decisions on Price.
Millennials are more likely to read on-pack benefits. 25% of Millennials actually read on-pack benefits for Multivitamins and used the information to make informed decisions. One thing Millennials have in common with other groups? They largely ignore the back of the pack.
Product forms are important to Millennials. Millennials like to be given different options to choose from, when it comes to product forms. They are more likely to evaluate and make their purchase decisions based on different product forms such as gummies, chews, liqui gels etc. as compared to Boomers and Gen Xers.
When you couple this data with the fact that brand switching is less rampant in Consumer Healthcare categories (compared with food or other categories in the store), it becomes clear that understanding Millennials’ shopping behavior and targeting them is critical to Consumer Health Brands’ success.