with millennials a key consumer group, what are the best practices marketers should be implementing to promote personal care, skincare and cosmetics?
Millennials are the key consumer group that both established and emerging brands want to target. Highly educated and holding immense purchasing power, millennials look to develop loyalty with actively engaged brands that produce quality products.
The U.S. alone has around 80 million millennials, with their buying power worth around $200 billion to the country’s economy. In contrast, Europe has a lower number of millennials, with 8% of millennials versus 10% of the total global population.