- According to The Daily Wire the world’s largest consumer products company is attempting to trademark millennial acronyms like “LOL” and “WTF” to use with their dishwashing and laundry detergents and soaps.
- Millennials are apparently still not doing their own laundry.
- P&G board member believes Millennials want these brands, to have an emotional attachment to.
Here we go again. Several recent studies have shown that Millennials are less brand loyal than preceding generations and a recent Daymon Worldwide global study1 showed that only 29% of Millennials usually buy the same brand, compared with 35% of Gen Xers.
The fuss about Millennials is mostly:
a) Marketing flat-tires bloviating about their latest fetish
b) The noise of editors with millennial kids who think there’s a big story there.
c) The pathetic youth worship of older people who should know better.
Americans over 50…
-Are responsible for over half of all consumer spending
-Dominate 94% of consumer packaged goods categories
-Outspend other adults online 2:1 on a per-capita basis
-Buy about 50% of all new cars
-Control about 70% of the wealth in the U.S.
-Would be the 3rd largest economy in the world, if they were a country (larger than Japan, Germany and India)
-Will grow at almost 3 times the rate of adults under 50 between now and 2030
-Are the target of 10% of marketing activity.
So P&G thinks that putting some acronyms on brands is going to increase sales? And when does anybody have an emotional attachment to a laundry detergent?
P&G is in trouble and this is further proof that the once mighty marketing giant is as dead as our Congress.