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Lifestyles of Millennials - UK - October 2015

“Because all the traditional markers of adulthood are less available to today’s Millennials, they are redefining what it means to be an adult for themselves. Marketing messages focused on traditional milestones of adulthood may no longer be as relevant; brands that acknowledge the shifting social norms will forge a much stronger connection with Millennial shoppers.”

This reports looks at the following issues:

  • Forging connections with Millennials via social media channels
  • Raising awareness of financial services amongst Millennials
  • Tapping into Millennials' desire to stay healthy/lead a healthy lifestyle

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Table of contents

  1. Overview

    • What you need to know
      • Report scope
      • Executive Summary

          • Social media makes shopping journey more interactive
            • Figure 1: Online interactions with companies and brands, by generation, July 2015
          • The worried-well
            • Figure 2: Approach to leading a healthy lifestyle, by generation, July 2015
          • Technology is central to lifestyles of the digital natives
            • Figure 3: Attitudes towards using technology, by generation, July 2015
          • Adjusting marketing strategies to draw in Millennials
            • Figure 4: Attitudes towards advertising, by generation, July 2015
          • What we think
          • Issues and Insights

            • Forging connections with Millennials via social media channels
              • The facts
                • The implications
                  • Raising awareness of financial services amongst Millennials
                    • The facts
                      • The implications
                        • Tapping into Millennials’ desire to stay healthy/lead a healthy lifestyle
                          • The facts
                            • The implications
                            • The Market – What You Need to Know

                              • Millennials – The biggest generation in the UK
                                • The number of NEETs on the decline
                                  • Millennials struggling to get on the housing ladder
                                    • Millennials remain optimistic about personal finances
                                      • Millennials are the most ethnically-diverse generation
                                      • Market Drivers

                                        • Millennials are the biggest generation in the UK
                                          • Figure 5: Age structure of the UK population, 2015
                                        • The number of NEETs is on the decline
                                          • Figure 6: People aged 16-24 who were not in education, employment or training (NEET), UK, July 2014
                                        • The trend towards delayed maturity
                                          • Figure 7: Percentage of each age group that are owner occupiers, England, 1981, 1991, 2008-09 to 2013-14
                                          • Figure 8: Percentage of people aged 20-34 living with their parents, by age, UK, 1996-2013
                                        • Millennials remain optimistic about finances
                                          • Figure 9: Current financial situation, by generation, July 2015
                                        • Millennials are the most diverse generation
                                          • Figure 10: Race and ethnic background, by generation, July 2015
                                          • Figure 11: Knowledge of foreign languages besides English, July 2015
                                        • Living and shopping online
                                          • Figure 12: Purchases made over the internet, by age group, Great Britain, 2014
                                      • The Consumer – What You Need to Know

                                        • Millennials prioritise getting their finances in order
                                          • Social media is key to connecting with Millennials
                                            • Health is top of mind for British Millennials
                                              • Millennials remain tethered to their devices
                                                • Advertising speaks strongly to Millennial men, but Millennial women feel ignored
                                                • Responsibility for Household Finances

                                                  • Millennials living at home for longer
                                                    • Figure 13: Responsibility for living expenses and groceries, by generation, July 2015
                                                  • Delayed maturity comes with opportunities
                                                    • Figure 14: Responsibility for shopping for non-essentials, by generation, July 2015
                                                • Changes in Spending Habits

                                                  • Millennials show a frugal streak…
                                                    • Figure 15: Spending compared with a year ago, by generation, July 2015
                                                  • …whilst also spending more on non-essentials
                                                    • Figure 16: Spending compared with a year ago, by generation, July 2015 (continued)
                                                • Online Interactions with Companies and Brands

                                                  • Brands need to speak the language of Millennials
                                                    • Figure 17: Online interactions with companies and brands in different sectors, by generation, July 2015
                                                  • Financial services firms need to find a way to engage Millennials
                                                    • Figure 18: Screenshot of ‘Capture the Cube’ competition by FirstBank Holding Company, September 2015
                                                  • Social media makes shopping journey more interactive
                                                    • Figure 19: Online interactions with companies and brands, by generation, July 2015
                                                    • Figure 20: Screenshot of Nescafé’s Tumblr account, September 2015
                                                  • Engaging young influentials
                                                  • Approach to Health

                                                    • Millennials are just as health-conscious as the Swing Generation
                                                      • Figure 21: Approach to leading a healthy lifestyle, by generation, July 2015
                                                    • The worried-well
                                                      • Figure 22: Selected activities done to stay healthy in the last 12 months, by generation, August 2015
                                                    • Putting a price on health
                                                      • Figure 23: Agreement with the statement “It is worth paying more for products that help improve my health”, by generation, August 2015
                                                      • Figure 24: Screenshot from Goodhealthbox.com, September 2015
                                                  • Role of Technology

                                                    • Technology is central to the lifestyle of digital natives
                                                      • Figure 25: Attitudes towards using technology, by generation, July 2015
                                                  • Attitudes towards Shopping and Advertising

                                                    • Over a third feel guilty for buying things they don’t need
                                                      • Figure 26: Attitudes towards advertising, by generation, July 2015
                                                    • Discounts galore
                                                      • The power of the sharing economy
                                                        • Figure 27: Screenshot from the homepage of Rent the Runway site, September 2015
                                                      • Need to raise appeal of adverts to Millennials
                                                        • Figure 28: Millennials’ attitudes towards advertising, by age and gender, July 2015
                                                    • Appendix – Data Sources, Abbreviations and Supporting Information

                                                      • Data sources
                                                        • Abbreviations
                                                          • Definitions
                                                            • Generations

                                                            Companies Covered

                                                            To learn more about the companies covered in this report please contact us.

                                                            Lifestyles of Millennials - UK - October 2015

                                                            £2,195.00 (Excl.Tax)