With values and attitudes formed around the turn of the 21st century, Millennials want fulfilling careers, are more into environmental and social causes, and grew up in the social media era.  Damien Wilson, Hamel Family Chair of Wine Business at Sonoma State University, explains who Millennials are, what drives their buying habits, and the brand loyalty of the group.  This is the first part of a two-part series on marketing to Millennials. Detailed Show Notes: Damien’s backgroundMid 1980’s - worked in grocery retail in wine & spiritsEarly 1990’s - worked in hospitality as a wine stewardMid 1990’swine sales repCompleted 4 degrees in the wine business2007 - left the University of South Australia and Australia overall with a Ph.D. in Wine BusinessResearch areas include: History and usage of screw caps and natural corkConsumer behavior - consumption patterns that lead to wine consumptionDigital marketing, tourismDefining MillennialsGenerational cohorts - they may change their name as certain experiences become the dominant characteristic of their valuesEach cohort is distinct because of their experiences, which have information and directive influencesE.g., Silent (formerly Great) Generation - values were set during war yearsBaby Boomers - the boom in population growth post-warGen X (used to be called latch key generation)Gen Z (1997 onwards) - have no real memory of September 11th (2001), were initially called the “i -generation” because they were attached to their iPhonesMillennialsOriginally set from the late ’70s (as early as 1976) to the early 80s birth years Current definition (from Pew Research Center and Brookings Institute) - 1981 - 1996Attitudes and values formed during the decades around the turn of the 21st century (1990s-2000s)Millennial Values and AttitudesWant a fulfilling career vs. a stable or secure careerExhibit stronger support for social and environmental issuesHave the largest perceptual gap of their long-term vision vs. their initial reality - they had huge expectations of adulthood and were hit with reality (you start at the bottom) and the Global Financial CrisisLived in the social media era - see the extremes (people curated perfect lives)Millennial Wine BuyingWine buying is tightly correlated with economic statusGenerational buyingSilent Generation - marked by frugality, drank less wine because it was more expensiveBaby Boomers - expressed interest in wine and shares with others, have been the driver behind the recent success of the wine industry, wine as a relatively inexpensive way to show success and luxury (e.g., Silver Oak success)Gen X - eschews traditional brands, tried different things (e.g., led to the Rhone Rangers movement)Millennials -focus more on enjoyment and the collective vision of what wine means for their generationwant individualism, but also consume brands that are more representative of their groupHumor, innovative approaches, bohemian, off-kilter brands can be successfulWilling to accept something that reflects values and intent, even if not total wine specific, whereas the prior generation was more focused on the wine itself)Receptive to sales and marketing messages as long as it is authentic to the brandBuying pattern formative period in teen and early adult years, particularly for aesthetic consumption and will likely persist over timeMillennial brand loyaltyBrand loyalty starts with awareness - awareness of anything trumps lack of awareness which makes consumers start with a degree of brand loyaltyThe pattern is repeated until people gain more comfort with products and they move to brand extensionsNew wine consumers (e.g., Millennials) are still new to the category, still just learning what wine isProud of and support brands that support them (e.g., Supreme - streetwear); wines they drink are wines that support them and have brand loyalty to them (e.g., Buena Vista, Chateau Diana)Perception of brand loyalty may be due to low wine club signup rateMillennial wine spending habitsS