image

Millennial Insights

Millennials are the largest, most diverse generation in the US

Their consumer decisions and values have changed the game

image

Get to know them better…

1 in 4

Are now parents

57%

Never married

88%

Live in Metro Areas
Only

56%

Identify as White

83.1m

Of the US population
1982-2000

$1.4T

Estimated Spending Power
by 2020
image

Millennials are savvy shoppers with growing Spending Power

They spend more than 2/3 the amount on entertainment than Gen X and Baby Boomers

60% of Millennials said they would buy a generic brand on sale over the brand they usually buy

$47,112 is the Average Yearly Expenditures

54%

Complete transactions online

63%

Complete transactions on smartphones

94%

Use coupons and have a preference towards a digital format

40%

Refer to online reviews and testimonials before purchasing a product

Brand Perception

Millennials prefer brands who offer a unique experience, value for their money and great customer service.

78%

Of Millennials remain loyal to brands they purchase

81%

Of the time Millennials expect companies to make a public commitment to charitable causes and citizenship

image

74%

Will switch to a different retailer or brand
if they have a negative experience

  • Millennials expect brands to provide value for their money and proper customer service

  • Heavily weighs brand customer experience into their perception of the brand

  • More likely to stay loyal to a brand because of loyalty rewards than any other generation

  • More likely to share positive consumer experience than a negative one
image

Brand Interaction

Gen Y use social media as a place to connect with Brands

1/3 report that they like a brand more when it uses social media.

50% agree with the statement: “I like checking out brands on social media sites like Facebook or twitter”

image

Influencer Marketing

Millennials prefer social media influencers over celebrities

78% reported a negative or indifferent view towards celebrity endorsements

Trend also applies to Mega influencers as more millennials prefer influencers with smaller followings that appear more authentic
image

Social Responsibility & Brands

Millennials significantly value Corporate Social Responsibility (CSR) when it comes to purchasing decisions

42% consider CSR when deciding a purchase

70% likelihood of purchasing from a brand that handles a social issue well

Millennials expect that a company gives back to the community. They also have high awareness of digital cause campaigns.
image

Uses Of Social Media

Millennials spend over 2 hours of their day on social media

image

A place to learn & create

Social Media has become an important resource as a learning and research tool. Millennials leverage Social Media as a way to create and distribute their own content.


70%

Of Millennial Youtube Users have used the platform to learn something new in the past year.

60%

Produce and upload online content (i.e. photos, videos, blog posts, etc.)


They frequently refer to consumer online reviews and blogs when making a purchase.


40%

Refer to consumer online reviews and blogs when making a purchasing decision.

3x

More likely to visit social channels to gather opinions on products they should buy

image

How Millennials Prefer to Communicate

68% of Millennials admit to texting “a lot” on a daily basis

image

Text or Email?

SMS have a 98% open rate

45% SMS Response Rate.

90 seconds takes the average person to respond.

67 is the average number of TEXTS a millennial receives in a day.


EMAILs have an 20% open rate

6% EMail Response Rate.

90 minutes takes the average person to respond.

121 is the average number of EMAILs a millennial receives in a day.

Sources

Accenture (2015), PEW Research Center, Think with Google, US Census Bureau / UPS. Millennial Marketing, Valassis, BLS / Millennial Marketing, Nielsen / MediaKix, Social Chorus, Think with Google, Millennial Marketing / Business Insider / Forbes