July 10, 2018
It’s rare that food products stand the test of time amid changing consumer tastes, flavor demands and new products. Hershey’s, Oreo and M&M’s have been ranked in the top 10 list ofYBrands’of the most trustworthy brands among consumers 13 to 36 years of age. Hershey’s was ranked third, Oreo fifth and M&M’s sixth.
YBrands surveys 80,000 young consumers annually about their perceptions of 230+ brands across five verticals: fashion/apparel, CPG food/beverage, health and beauty, QSR/casual dining and media/tech/entertainment.
It can be especially difficult for legacy companies to keep up with millennials and Generation Z, thanks to constantly evolving taste. It’s even more challenging to be lauded by this generation for brand longevity given the interest by these demographics in new product innovations. Mars, Millennial interest in exciting re-imaginations of products can be a boon for iconic brands that can successfully play up their nostalgia and creativity at the same time. Having strong brand recognition puts them in a unique position to continue reinventing, but still remain classic and authentic. The trick is that marketers within the company need to keep a pulse on cultural trends to keep brands current.
Nostalgia is a growing trend in the food and beverage industry even as consumers show increasing concern about sugar and artificial ingredients. Ingredients, packaging and marketing can all bring new excitement — but it is equally as important to consistently offer the product that consumers have come to love.