Snack foods and web-based businesses dominate the most liked brands amongst 16-34 year olds according to a new report, "Generation Y and Brand Loyalty," from woot! Media.
The report, which looks at the changing relationships Britons have with brands as they age from 16 to 34, reveals Cadbury is the most liked brand amongst UK 16-34 year olds (82 percent), followed by Amazon (78 percent), Pringles, Walkers and Heinz (all 74 percent). The top ten is completed by Google, Coca-Cola, (both 73 percent), Galaxy (71 percent), Kellogg's and Facebook (both 70 percent).
Acording to Dan McDevitt, woot's joint managing director: "Despite all the media attention given to internet, technology and mobile brands, the top 100 overall shows Generation Y remain most fond of traditional food, drink and retail brands - which account for over half the entire list."
The BBC is the favourite media/entertainment brand at 14th overall. McDonald's takes the honours in high-street retail (16th). Following the top four internet brands, Apple is the leading technology brand but ranks 19th in the overall list, just a few places ahead of Colgate (23rd), the most liked personal care brand. Nike is the favourite clothing/fashion brand (40th) as is Smirnoff in the alcohol sector (46th).
Visa is the only finance brand in the top 100 (51st), British Airways is the only travel brand (64th) whilst the top car brand ranks just 75th (Audi) ahead of BMW (83rd) and Ford (99th).
The report identifies three life-stages within Generation Y and how brand preferences change. The “all about me” stage (16-21 years) only needs to consider brands from a selfish perspective, and does not need to buy for partners or kids; Snacks, fashion and the internet dominate the most liked brands for this group.
The “all about us” stage (21-30) sees individuals becoming independent: moving into their first home, moving in with a partner or stepping onto the career ladder. The most liked brands here start to include more alcohol, retailer and household grocery brands such as Colgate.
The “all about them” stage (25-34) sees younger consumers becoming accountable to their partner, their children or a mortgage, all of which trump initial personal preferences. Their brand repertoire grows considerably and more family-orientated brands such as Johnsons, Warburtons and Kellogg's appear.
McDevitt says: "Despite being subject to the biggest life changes, no other age group is treated as such a homogenised unit by advertisers and the media as 16-34s. The study reveals how Generation Y's relationships with brands change considerably as they move through these very different life stages."
Quality (cited by 72 percent) and how the product performs versus the competition (67 percent) are the major reasons why brands appeal to 16-34 year olds. Six in 10 say it's because the brand fits their own personality while “what the company represents” and the “price being fair” are both cited by half of the age group.
McDevitt: "Regardless of age, two common denominators emerged about why brands appeal to Generation Y: the product's perceived quality and performance. These 'functional' reasons run counter-intuitive to those who believe young adults are preoccupied with simply jumping onto the next big thing."