Nielsen Ranks 10 Brands With Millennial Momentum

NEW YORK — Millennials are willing to spend money on what matters to them, and with members of this generation accounting for 24 percent of the U.S. population, their annual spending adds up, with millennials as a group already spending approximately $200 annually, according to Nielsen.

Although millennials prioritize value similarly to older consumers, they are 38-percent more likely to buy natural and organic products and quicker to jump on new trends. They also make fewer shopping trips but spend more per trip at an average of $54 per trip compared to $43 per trip for baby boomers. Although they are still climbing the income ladder, the generation's size and age range highlights its long-term purchasing power, and as a result both retailers and manufacturers should account for millennials' needs, buying preferences, changing geographic locations and increased spending power, Nielsen said.

The consumer packaged goods (CPGs) portion of the 28th annual Harris Poll EquiTrend study released by Nielsen shows many top brands for millennials are relatively new to the market, while the top brands for baby boomers and members of generation X tend to be more established, with a history of consistently delivering on their brand promises. However, certain brands, such as Chobani and Wonderful, are "on the way up" across the generational gap.

The CPG section of the study evaluated the brand health of more than 2,500 brands using 12 key brand metrics, including a brand's overall equity and brand momentum, or consumers' view of whether brands are "on the way up," "holding steady" or "on the way down." Brand momentum can serve as a good indicator of future equity growth, and the past three years of EquiTrend data saw that 68 percent of the top 50 brands that were "on the way up" in 2014 posted positive gains in 2016 on the overall brand equity index. Additionally, 83 percent of the brands on the EquiTrend top 10 list have experienced sales gains in the past year, and 57 percent have posted double digit growth.

By generation, the top 10 brands "on the way up" are:

Millennials

• eos Lip Balm
• Kind Bars
• Wonderful Pistachios
• Chobani Flip Yogurt
• Naked Juices
• Downy Unstopables In-Wash Scent Booster
• Chobani Oats Yogurt
• Essie Nail Polish
• Tide Pods Laundry Detergent
• Dove Men + Care Deodorant

Generation X

• Chobani Greek Yogurt
• Cuties Mandarin Orange
• Stevie in the Raw Sugar Substitute
• Tide Simply Clean & Fresh Laundry Detergent
• Naked Juices
• Halos Mandarin Oranges
• Sriracha Hot Sauce
• Ghirardelli Baking Chocolate
• Duracell Quantum Batteries
• Dove Frozen Treats

Baby Boomers

• Pom Wonderful Juices
• Pom Wonderful Fresh Produce
• Angry Orchard Hard Cider
• Command Hooks
• McCafe Ground Coffee
• Halos Mandarin Oranges
• Wonderful Pistachios
• Chobani Greek Yogurt
• Dannon Oikos Greek Yogurt
• Gorilla Tape