At 92 million strong, the millennial generation is the largest in U.S history. Currently holding over $600 billion in annual purchasing power, millennials’ buying power is predicted to reach $1.4 trillion annually by 2020 and $11.3 trillion by 2030.
Like it or not, millennials are taking over the joint.
And despite popular belief, the majority of millennials are brand loyalists. Of 1,300 millennials interviewed by Forbes, “60% said that they are often or always loyal to brands”. As the oldest wave of millennials enters parenthood and the youngest wave of millennials enters adulthood, new buying habits and brand preferences are...
More and more brands are making the switch from rigid to flexible packaging every day. According to a recent report by Knowledge Sourcing Intelligence, the North American flexible packaging market was worth $30 billion in 2015 and is expected to be valued at nearly $34 billion by 2021. Some reasons attributed to the growth of flexible packaging include:
- Rising popularity of pouches–predicted to grow 6.5% a year to 2020
- Consumer perception that stand-up pouches signify quality
- Increased consumer demand of convenient smaller pack sizes
- Eco-friendly benefits–flexible packaging consumes less energy to manufacture and transport
At Glenroy, we continue to be at the forefront of this movement by providing a wide range of flexible packaging capabilities, innovative products, and top-tier service to our customers:...