Brands relaunch products with a fresh approach to target younger audiences
Implications - Marketers are increasingly narrowing their focus on the Millennial generation, going so far as rebranding their image to appear more youthful and hip to appeal to this large market group. Millennials present a huge opportunity for brands as they comprise consumers who are vocal about their brand preferences and comfortable spending money. According to the CEO of Buzz Marketing Group, Tina Wells, Millennials in their 20s spend thousands a month, and the younger their age, the more disposable is their income. Thus, for companies that are more rooted in tradition and "old-fashioned" themes, rethinking your brand image may be in order.