“The Evolution of Brands: Design trends that Embrace Millennial Values and Desires”

In recent years, the business world has witnessed a significant shift in how brands operate and position themselves. The driving force behind this transformation? Millennials - as the world's largest and most influential demographic group, millennials are reshaping the marketplace with their digital savvy, trendsetting attitudes, and passion for unique experiences. Their substantial spending power has not only caught the attention of businesses but also inspired innovative approaches to cater to their preferences. An intriguing example of this shift is evident in the way millennials are changing the narrative around adornment, with platinum jewellery emerging as a testament to how brands are aligning with millennial values and desires.

Values That Steer the Millennial Ship

Before delving into the impact of millennials on branding, it's crucial to understand the core values that define this generation.

Millennials are all about experiences, and not so much about material possessions. Personal growth tops their list, and they're all about embracing diversity and exploring uncharted territories. Connection is their secret sauce, both offline and online, in their journey for exploration and validation. These values shape their consumer choices and have a significant impact on the jewellery they prefer.

This generation is on a perpetual quest for novelty, viewing technology as an extension of their identity. They prioritise accumulating experiences over amassing possessions and seek to appear successful and fashionable as they navigate their personal and professional journeys. This approach greatly influences their choice of jewellery.

Millennials are intent on living in the present. They are master multitaskers, fearing they might miss out on something important. Life decisions such as marriage and homeownership are often postponed in favour of unrestrained enjoyment of life. They exhibit impatience with traditional processes and opt for quick access and instant gratification.

This generation has also rewritten the rulebook on social interaction. They place as much importance on phone calls as they do on face-to-face meetings. Social validation is quantified in retweets and likes, and emojis and emoticons are their tools of choice for self-expression. They are highly conscious of their online image and seek validation from their online networks before making significant decisions.

The Indian Twist

In India, millennials have earned the moniker "tech-savvy traditionalists." They're all about striking the perfect balance between tradition and modernity. They're not just part of the family, but they also proudly wear the badge of individualism. Their social network, both real and virtual, serve as extensions of their family, and they're all about being global equals. Unlike their predecessors, they are less enamoured by the West and are determined to conquer the world on their terms.

The Rise of Platinum Jewellery

One of the most prominent examples of how brands are adapting to millennial values and desires is the resurgence of platinum jewellery. Platinum, with its timeless beauty and rarity, has taken centre stage as the preferred choice for millennials. Renowned as a symbol of love, this noble metal boasts the allure of the world's most famous diamond, the "Le Bijou du Roi."

Platinum jewellery offers distinctive design possibilities that deeply resonate with millennials’ longing for personalisation and meaning. Design trends, such as "Bold Minimalism," draw inspiration from around the world and employ simplicity to make bold statements. Some pieces capture the beauty of geography, while gemstones introduce assertive elements for individuality. The jewellery also embodies "Squared Sculptural," utilising platinum's strength, and crafts intimate designs with compelling narratives. These trends echo millennials' desire for uniqueness, personalisation, and meaningful aesthetics, providing a medium for them to express their values and aspirations through platinum jewellery.

But it's not merely about the metal; it's about the stories and personal expressions it enables. As millennials redefine luxury and self-expression, platinum stands as their ideal companion in their journey of self-discovery, identity, and success. It resonates with their preference for experiences over possessions and their desire to stand out as socially responsible, fashion-forward individuals. Platinum essentially embodies the millennial spirit.

Insights for Brands

For brands to resonate with millennials, they must to embrace new experiences and values. Millennials appreciate craftsmanship, authenticity, and the stories behind their favourite brands. They are full of optimism about the future, making them more receptive to brands with uplifting narratives. Forget traditional notions of duty and rites of passage; they want brands that help them stand out and fuel their dreams. Being super connected and inclined towards self-expression, they adore brands that encourage co-creation and building a community. They also prefer socially responsible brands that align with their progressive values.

As the millennial generation continues to exert its influence on consumer trends, we can expect even more innovations and adaptations in the way brands approach product marketing and positioning, resulting in a marketplace that aligns seamlessly with the values and desires of this generation.

(The writer is a Business Director at PGI – India)