Study: Millennials are more brand-loyal
NEW YORK — Despite their reputation as being jaded by branding efforts, a majority of Millennials consider themselves brand-loyal. According to a new survey of Millennial consumers from marketing data provider Adroit Digital, 64% of Millennials are more brand-loyal or as brand-loyal as their parents, with 24% considering themselves to be more brand-loyal than their parents.
However, 77% of the Millennials surveyed said they are evaluating brands on a different set of criteria than their parents. For example, 55% of young shoppers said that a recommendation from a friend is one of the strongest influencers in getting them to try a new brand. Forty-seven percent consider brand reputation to be almost as important. Product quality ranks fourth at 35%, but price still comes in first at 62%.
Other notable findings include:
• Sixty percent of Millennials said that social advertising has the most influence over them in how they perceive a brand and a brand’s value. This compares with TV at 70%. Traditional media outside of TV has little influence with Millennials. In the realm of influence, radio, billboards and magazines finished last.
• Twenty-six percent of millennial respondents said social is the most likely channel to introduce a new product they will consider for trial. Only TV, at a very small margin of +3%, outranks social.
• Thirty-six percent of Millennials believe digital advertising is the most effective method of influencing their brand decisions, with traditional advertising as a standalone showing markedly less influence at 19%.
• Fifty-two percent of Millennials want brands that are willing to change based on consumer opinion and feedback to maintain future relevance. 44% want to have open dialogue with brands through social channels, and 38% want brands to be more about the consumer and less about the brand.
• Thirty-eight percent of Millennials will switch brands if a company is found to have bad business practice Outside of financial factors, a business found to have bad business practices is the number one reason that Millennials will switch brands. This carries the same weight as a recommendation from a friend, at 38%.
NACDS reveals ‘Insight Sessions’ line up for NACDS Total Store Expo
ARLINGTON, Va. — With less than five months until the doors open for the second National Association of Chain Drug Stores' Total Store Expo, the association announced its line-up of educational “Insight Sessions,” which will offer presentations by experts on a variety of key issues and priorities including healthcare, business and logistics.
The NACDS Total Store Expo will take place Aug. 23 to 26 at the Boston Convention & Exhibition Center in Boston.
The sessions will take place on Sunday and Monday during the four-day trade show and strategic exchange. To date, there are 14 Insight Sessions with more sessions in the planning stages that will be posted on the NACDS Total Store Expo web site in the coming months:
- Drug Supply Chain Security Act: Overview and Implementation;
- Emerging Care Models: Partnerships with Pharmacies to Drive Patient Outcomes;
- Enhancing the Joint Business Planning Process: Creating Value Together;
- Healthy Growth: How to Capitalize on the Changing Consumer Landscape and Their Health Needs;
- Innovative Pharmacy Operations Models;
- The U.S. Pharmaceutical and Pharmacy Market 2014: Trends, Issues and Outlook;
- The Quality Revolution: New Trends;
- Advancing Neighborhood Care – Patient Nutrition Programs;
- Convenient Care – Point of Care Testing in the Pharmacy;
- The Missing Connection: Pharmacy HIT Update;
- A Prescription for Change – The Affordable Care Act’s Impact on Community Pharmacies;
- Winning with Digital Study;
- Women 2020: An Action Agenda for Women’s Leadership; and
- Specialty Pharmacy: Breaking with Tradition.
“Conducting business in an efficient and effective way is key in this industry,” said NACDS president and CEO Steve Anderson. “These informative and educational Insight Sessions are designed to provide the timeliest relevant information to help retailers and suppliers have a successful meeting and, in turn, have the tools to be successful in their businesses long after the NACDS Total Store Expo concludes.”
Many of the Insight Sessions may provide crossover into other segments of the industry. For example, the Food and Drug Administration-led session “Drug Supply Chain Security Act: Overview and Implementation” can offer suppliers and retailers critical information about stakeholder responsibilities as implementation of the Affordable Care Act continues this year and into 2015.
In addition, NACDS-TV will continue to provide video resources to help attendees plan ahead for the trade show, the Association stated.
Kroger names new group VP, human resources and labor relations
CINCINNATI — Kroger on Wednesday announced that Timothy Massa will be promoted to group VP human resources and labor relations.
Massa, 47, currently serves as VP corporate human resources, talent development. In this expanded role, he will take responsibility for labor relations when Paul Heldman, EVP, secretary and general counsel, retires in May.
"Tim is a trusted human resources professional and valued partner," stated Mike Ellis, Kroger’s president and COO. "In just four years at Kroger, leaders and associates throughout the company know they can count on him for strategic direction and advice. He leads by example, bringing life to the Kroger Leadership Model through his passion for people and results every day."
Massa joined Kroger in 2010 in his current role as VP. Prior to joining the company, he served in various human resources leadership roles for 21 years at Procter & Gamble. He has an extensive global HR generalist background in leadership development, succession planning, performance management, strategy development, employee relations and engagement.
Massa earned a bachelor’s degree in communications from the University of Dayton. He is a member of the College of Mt. St. Joseph board of trustees, the Cincinnati Freestore Foodbank board of trustees, and the University of Dayton Champions and Scholars Program. He also received a Future HR Leaders accreditation from Cornell University.
Massa and his wife, Lisa, live in Cincinnati and have two children, Mallory and Morgan.