As Millennials Demand More Meaning, Older Brands Are Not Aging Well

As Millennials Demand More Meaning, Older Brands Are Not Aging Well
By Sebastian Buck.

Serving an older population is a great thing, so long as that’s what a company intends to do–like AARP serving those 55 and older. But some major mass-market brands mean much less to younger generations than to older generations–creating significant risk for the longevity of those companies.

This year, my agency Enso’s World Value Index scored 150 brands according to how a nationally representative sample of Americans identify the brands’ purpose, the extent to which the purpose identified aligns with their own values, and the extent to which it motivates brand advocacy and purchase.

The results are strikingly different for different demographics. For instance, Americans over 55 years old (“boomers”) rate Newman’s Own the No. 7 brand, whereas those 18- to 34-year-olds (“millennials”) rate Newman’s Own No. 81. Without building stronger support from younger generations, Newman’s Own risks declining sales over time and eroding the brand equity that the company has spent decades building.

Read more at Fast Company.

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