ROTH Capital Partners Releases Its 2020 Millennial Survey

Jan. 22, 2020

January 22, 2020 9:00 AM (EST)

NEWPORT BEACH, Calif.--()--ROTH Capital Partners (“ROTH”), a full service investment bank focused on advising and financing growth companies, is pleased to announce the release of its 2020 Millennial Survey, its eighth annual proprietary survey examining current trends, spending patterns and favorite brands across six consumer categories, including apparel & footwear; home furnishings; health & wellness; beverage; healthy snacks; and CBD & cannabis. The survey, conducted in partnership with MFour Mobile Research, features 209 questions and was completed by 2,500 Millennial-aged women and men.

Key findings from the ROTH Millennial Survey include:

  • 63% of Millennials who purchase items online prefer to make returns of online purchases in-store, and 76% of them stay and shop after making a return in-store
  • 47% of Millennials are more likely to purchase digitally native brands that begin offering products in-store
  • 53% of Millennials are willing to pay a premium of 10% or more for socially responsible brands
  • 73% of Millennials are Amazon Prime members
  • 45% of Millennials have purchased apparel products from brands that they first discovered on Instagram
  • For the second year in a row, Nike, Adidas and Vans are the leading fashion footwear brands among Millennials, while Gucci is the most popular luxury goods brand
  • Millennials view Serta, Sealy, Tempur-Pedic, Purple and Casper as the mattress brands that best serve their needs
  • Nike, Black Diamond and Petzl are the favorite brands among Millennial climbers
  • 51% of Millennials who consume high alkaline water reported greater consumption this year than last
  • 74% of Millennials own reusable water bottles or tumblers, with YETI, Hydro Flask and Contigo being the most popular
  • Canada Dry, Seagram’s, Reed's and Gosling’s are the four most popular ginger-based drink brands among Millennials
  • Approximately 2/3 of Millennials use dairy alternatives, regardless of their income level, and 72% of those who use dairy alternatives are willing to pay a premium of at least 5%
  • 38% of Millennials who consume vegan snacks are consuming more of them now than they were two years ago
  • 24% of Millennials use CBD, and purchasing decisions are most influenced by quality, value and friend recommendation

“Millennials are seeking brands that share their values and speak to them directly in a personalized manner. Institutional investors and strategic acquirers are actively pursuing these brands and have been willing to pay a premium for them,” said Paul Zaffaroni, Managing Director and Head of Consumer Investment Banking at ROTH.

“Millennials will make up nearly three-quarters of the workforce by 2025 and are rapidly redefining consumer patterns. Investor awareness and study of Millennial consumer behavior and preferences is an essential factor to projecting business earnings and setting valuations,” said David Bain, Managing Director, Senior Research Analyst at ROTH.

“We are in the infancy of two very large market opportunities for brands and products in the CBD and Cannabis industry. The survey confirms the increasing use case for Millennials to gravitate toward quality brands and products,” said Scott Fortune, Director, Research Analyst at ROTH.

For access to the ROTH Millennial Survey, please contact your ROTH Representative at (800) 678-9147.

About Roth Capital Partners, LLC:

ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit



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