How do you target the right consumer?
Targeting the right consumer remains elusive but necessary. As a new era of consumerism unfolds, producers are trying hard to make sense of what influences new spending decisions. McKinsey says that 33% of millennial and Gen Z consumers say they choose to buy a brand that represents their values. But know also that alignment with a consumer’s values may raise ‘consideration’ but not necessarily prompt purchase. There are other factors to consider like product superiority, taste, and value, alongside animal welfare, environmental consciousness and sustainability that have come to awaken consumer choices and prompted producers into action.