The Key Facts:
written by Jeff Fromm
- Millennials are people born between 1977 and 2000. Although, there is not a universal agreement on this definition.
- There are more than 80 million of them. This makes their generation larger than Baby Boomers and 20 percent bigger than Generation X.
- Millennials make up 25 percent of the U.S. population.
- Currently, Millennials has 21% of consumer discretionary purchases, which is estimated over a trillion dollars in direct buying power and a huge influence on older generations . Their influence in some categories on other generations is far greater and cannot be ignored
- Millennials are not a homogenous cohort.
- Millennials often seek peer affirmation before making decisions — even small ones.
Based on our research we know that:
- Millennials include some of the earliest digital natives.
- Millennials are interested in participating in your marketing.
- Millennials are known as content creators and users.
- Millennials crave adventure- often “safer” adventures.
- Millennials strive for a healthy lifestyle.
- Millennials seek peer affirmation.
- Millennials are “hooked” on social media in much the same way older. generations are “hooked” on email at work.
- Millennials are not a homogeneous cohort.
- Millennials embrace authentic cause marketing and align to brands with a purpose.
- Millennials are in many ways similar to older generations.
If you’d rather learn about the findings another way, you can watch this handy video: