Millennials’ Favorite Brands
YouGov BrandIndex, a brand intelligence service that conducts over 2.5 million interviews a year to measure public brand perception, has recently published the results of a study on gains made by brands in millennial customers over the past year. The study yielded some predictable, but also some quite surprising results.
YouGov BrandIndex compared millennial customer data for over 1,500 brands for the first half of 2017 to data from the first half of 2016. For the purposes of the study, YouGov BrandIndex defined a “current customer” as someone who has recently made a purchase from the brand within a time period ranging from 30 days to a year depending on the brand category. The “current customer score” presented in the results refers to the percentage of American millennials who are current customers of that brand.
The results of the study were as follows:
Most Improved Brands
YouGov BrandIndex also revealed the following brands as overall leaders in millennial customers:
Brands with Highest Overall Current Customer Score
Marketers can gain some valuable insight on how to attract millennial customers from this data. Marketers should look at what these companies are doing right to connect with millennials, and they should apply those efforts to their own company. YouGov BrandIndex’s results show that millennials are big fans of sharing services. Ride-sharing services Uber and Lyft ranked number one and three in improvement respectively, and the accommodations-sharing service airbnb also landed in the 20 most improved brands in terms of millennial customer gains. Another takeaway from these results is that millennials won’t let ethics deter them from doing business with a company, especially when that company can save them money. The number one most improved brand, Uber, encountered PR turmoil this year, but even that could not drive millennials away from the cost effective ride-sharing service. Lastly, these results show that traditional, long-standing brands aren’t doomed with millennials. These brands must stay relevant and relatable in order to gain the business of millennials, but brands on the most improved list like Delta, Adidas, Visa and Ace Hardware prove that a company doesn’t have to be a modern tech juggernaut to attract millennials.
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