Targeting a new food or drink to Millennial consumers? Join the club. The so-called Millennial generation is well established and widely utilized as a marketing term. Then again, perhaps the large number of consumers now encompassed within this grouping—actually reduces its usefulness.
The generational descriptor probably was first coined in the mid- to late-1980s to follow Generation X and describe the young people reaching adulthood in the early 21st century; generally the children of the so-called Baby Boomers. Back in late 2014, Innova Market Insights highlighted “Marketing to Millennials” as one of its key trends for 2015 and this trend certainly continued to grow since then.