When developing their franchises, brands are placing focus on Millennials
Trend - Franchise companies are seeking to attract Millennial talent as they recognize this demographic's growing appetite for business. They do so either by catering their entire brand to younger consumers or through launching special programs that call for Millennial participants.
Insight - Millennials are often identified as being individualistic—as observed through personal brands on social media and beyond—and this independence translates to other facets of one's lifestyle. In the business world, in particular, this attitude is combined with efficiency and productivity, qualities strengthened by the digital age, resulting in a desire to be fully self-sufficient in the workplace. Thus, as Millennials grow into their entrepreneurial spirit, they become determined to launch their own venture.
Insight - Millennials are often identified as being individualistic—as observed through personal brands on social media and beyond—and this independence translates to other facets of one's lifestyle. In the business world, in particular, this attitude is combined with efficiency and productivity, qualities strengthened by the digital age, resulting in a desire to be fully self-sufficient in the workplace. Thus, as Millennials grow into their entrepreneurial spirit, they become determined to launch their own venture.
Workshop Question - How might your brand's product/service cater to the Millennial demographic?
Trend Themes
1. Millennial Entrepreneurship - Millennials are identified as individualistic and self-sufficient, driving many to seek entrepreneurship opportunities and prompting franchises to cater to younger generations.
2. Exclusive Social Shopping - Shoppable show platforms like NTWRK offer exclusive products with scheduled drops and social shopping features to target Gen Z and young Millennial consumers.
3. Nextgen Franchising - Companies like NextGen and Del Taco are targeting Millennials for their franchising programs, competitions, and opportunities, recognizing their interest in owning and operating their own business.
Industry Implications
1. Franchising - As Millennials seek entrepreneurship opportunities, the franchising industry can cater to younger generations by offering supportive programs and catering to individualistic mindsets.
2. Retail - Exclusive social shopping platforms targeting younger generations can disrupt traditional retail by offering unique products and experiences.
3. Food and Beverage - Companies like Chill-N Nitrogen Ice Cream and Del Taco can disrupt the food and beverage industry by offering innovative and high-quality products while targeting Millennial audiences for franchising opportunities.
4 Featured, 31 Examples:
95,844 Total Clicks
Date Range:
Jun 19 — Jun 20
Trending:
Average
Consumer Insight Topics:
