Posted: March 27, 2019 at 7:53 am
In Trinidad and Tobago, over 30% of the population are Millennials. With times changing even faster than ever brands are struggling to keep up with the latest in consumer trends. With the newest Generation Z, coming up close behind their buying power begins even earlier with increasing interest in creating their own income with small businesses and ‘side hustles’. With this information its no surprise that Millennials are still one of the most influential consumer groups thus playing a key role in the growth of the flexible packaging market.
-“In Trinidad and Tobago, over 30% of the population are Millennials.”
Citing from Amanda Dahlby from Brand Packaging, of 1,300 millennials interviewed by Forbes, “60% said that they are often or always loyal to brands.” This is important as the higher end of the millennial age range are creating families and developing new buying habits that will now pass along to their offspring. If you needed a sign therefore to upgrade your branding, THIS IS IT.
Millennials value different things than the generation before them whose fascination with easier availability of products and services served them well. Now, millennials care about so many additional factors that as a brand, servicing them is a key part of establishing your brand within their buying habits. Millennials are the first digital natives as well as the first flexible packaging natives. As a child, sipping juice from a stand-up pouch was standard practice. Since childhood, they’ve witnessed stand-up pouches appearing on shelves packaging everything from soup to nuts (literally).
This excitement, nostalgia and acceptance drives them to keep choosing flexible packaging for the products that they know or don’t know and love. Studies have shown that Millennials continue to choose flexible packaging even if unfamiliar with the brand and its product. Brands have lapped up this knowledge and made the switch or even introduced new versions of their products to be able to appeal to the newer generation and their desires.
“As a child, sipping juice from a stand-up pouch was standard practice. Since childhood, they’ve witnessed stand-up pouches appearing on shelves packaging everything from soup to nuts.”– Amanda Dahlby
According to thhe Flexible Packaging Association, they conducted a poll and reported, “83 percent of all brand owners are currently using flexible packaging of some type. In addition, 26 percent of all brands have increased their usage of flexible packaging in the past five years, and 31 percent intend to increase their flexible packaging used in the next five years.”
In addition to the knowledge of the changing buying behaviours of the generations coming up, pouch packaging continues to boast of various different benefits to both brand and consumer. With this new availability in Trinidad and Tobago, The Pouch Company is so excited to see brands embrace the future of packaging.