Millennials are the largest, most diverse generation in the US
Their consumer decisions and values have changed the game
Get to know them better…
1 in 4Are now parents
88%Live in Metro Areas
56%Identify as White
83.1mOf the US population
$1.4TEstimated Spending Power
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
Complete transactions online
Complete transactions on smartphones
Use coupons and have a preference towards a digital format
Refer to online reviews and testimonials before purchasing a product
Millennials prefer brands who offer a unique experience, value for their money and great customer service.
Of Millennials remain loyal to brands they purchase
Of the time Millennials expect companies to make a public commitment to charitable causes and citizenship
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
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”
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
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.
Uses Of Social Media
Millennials spend over 2 hours of their day on social media
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.
Of Millennial Youtube Users have used the platform to learn something new in the past year.
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.
Refer to consumer online reviews and blogs when making a purchasing decision.
More likely to visit social channels to gather opinions on products they should buy
How Millennials Prefer to Communicate
68% of Millennials admit to texting “a lot” on adaily basis
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.
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