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Marketing to Millennials - Canada - January 2018

"As Millennials grow up, they report a good level of confidence in their ability to take care of themselves, their families and in their parenting skills. Canadian Millennials are highly optimistic about their personal opportunities, yet may lack the financial knowhow to move them forward and attain their financial goals. Their media consumption habits reflect a reliance on social media platforms and preferences for entertainment that are shifting towards on-demand subscription services. Notably, dependency on social networking is not without uncertainty. There is an expectation of increased personalization that impacts all parts of the shopping process, regardless of the category. This Report examines the attitudes and behaviours of Canadian consumers aged 23-40 in 2017."

- Carol Wong-Li, Senior Analyst, Lifestyles and Leisure

This report will look at the following areas:

  • Optimistic about personal opportunities, a lack of financial knowhow may be limiting
  • Dependency on social media is real, but it’s a love/hate relationship
  • Changing media consumption habits has broader implications

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Table of contents

  1. Overview

    • What you need to know
      • Definitions
      • Executive Summary

        • The issues
          • Optimistic about personal opportunities, a lack of financial knowhow may be limiting
            • Figure 1: Confidence in handling personal finances (very confident), Millennials vs overall, October 2017
          • Dependency on social media is real, but it’s a love/hate relationship
            • Figure 2: Social media usage impact on career prospects, October 2017
          • Changing media consumption habits has broader implications
            • Figure 3: Rating video sharing and subscription streaming video or music services as must-have online services, by generation, October 2017
          • The opportunities
            • Millennial parents have high expectations of achieving satisfaction
              • Figure 4: Confidence in parenting skills (very confident), October 2017
            • Millennial fathers (sort of) exude confidence in caring for their households
              • Figure 5: Millennial confidence in household care and parenting skills (very confident), by gender, October 2017
            • Make it personal – Customization is noticed and probably expected
              • Figure 6: Perception of ‘personalization of social media content’ as having a positive impact, by generation, October 2017
            • What it means
            • The Market – What You Need to Know

              • One in four Canadians are a Millennial
                • Shifting demographic trends may be hitting the Millennial generation hardest
                  • Millennials are less likely to see their financial situation as healthy
                  • Market Factors

                    • Millennials make up a quarter of the Canadian population
                      • Figure 7: Canadian population, by age group, 2017
                    • Fewer Millennials see their financial situation as healthy
                      • Figure 8: Perception of financial health, Millennials vs overall population, October 2017
                    • Shifting demographic trends impacts the makeup of Millennial households
                    • Key Players – What You Need to Know

                      • Millennials appreciate personalized content on social media
                        • Usage of the internet is not all fun and games
                          • Marketing to Millennials today means ensuring things are share-worthy
                          • What’s Working?

                            • Personalized content is resonating with Millennials
                              • Figure 9: Perception of ‘personalization of social media content’ as having a positive impact, by generation, October 2017
                            • Personalization is becoming the norm and will expand throughout the shopping journey
                              • Millennials see the internet as giving them a voice
                                • Figure 10: Perception of ‘internet activism’ as having a positive impact, by generation, October 2017
                                • Figure 11: Opinions on social media for encouraging engagement with like-minded people, by generation, October 2017
                            • What’s a Challenge?

                              • Changing media consumption habits has implications for more than telecom companies
                                • Figure 12: Rating video sharing and subscription streaming video or music services as must-have online services, by generation, October 2017
                              • This implies changes across categories, starting with the hotel industry
                                • Participation on social media can be a win, except when it isn’t
                                  • Figure 13: Social media usage impact on career prospects, October 2017
                                • A rise in guidance of acceptable social media behaviours is seen
                                • What’s Next?

                                  • Marketing to Millennials means ensuring sharability
                                    • Restaurants are becoming more photogenic
                                      • Everyday foods get elevated to their turn in the spotlight
                                        • Pretty packaging grows sales of ice cream
                                          • Figure 14: Van Leeuwen Earl Grey Tea (US, October 2016), Candied Ginger and Strawberry (US, May 2017) Ice Creams
                                        • Even cities are being built to be Instagrammable: Jakarta
                                          • Financial help is on the way
                                            • Partnerships deliver a bigger punch
                                            • The Consumer – What You Need to Know

                                              • Staying social and entertained are priorities
                                                • Millennials using social media to staying informed, brands must have a meaningful presence
                                                  • Millennials are confident in their skills as adults
                                                    • Youthful optimism is real, though there is a sense of uncertainty
                                                    • Must-Have Services

                                                      • Staying social is tops
                                                        • Figure 15: Personal services, October 2017
                                                      • Millennials are caught in the middle of a change
                                                        • Figure 16: Rating social media apps and subscription streaming services as must-haves, by generation, October 2017
                                                      • Marketers need to be sensitive to the dynamic
                                                        • Figure 17: Tide HE Turbo Clean: Baby food, June 2015
                                                        • Figure 18: Audi #DriveProgress Big Game Campaign: “Daughter”, February 2017
                                                      • Millennial women more inclined to see social platforms a ‘must-have’
                                                        • Figure 19: Personal service, by gender, October 2017
                                                      • Making it a two-way conversation will likely appeal
                                                      • Opinions on Social Media

                                                        • Consumers are going social to stay informed, brands need to be present
                                                          • Figure 20: Opinions on social media for staying informed and connecting with brands, October 2017
                                                        • Consumers expect brands to be informative – in their words
                                                          • Brands need to present in a meaningful manner to engage younger Millennials
                                                            • Figure 21: Opinions on social media for connecting with brands, by generation, October 2017
                                                          • It’s a love/hate relationship with social media
                                                            • Figure 22: Sentiments towards using social media, October 2017
                                                          • Millennial women are paying attention…
                                                            • …but, with greater reliance comes greater conflict
                                                              • Figure 23: Sentiments towards using social media, by gender, October 2017
                                                            • Marketers: opportunity exists to ‘up’ productivity elements
                                                            • Adulting

                                                              • Millennials are confident in parenting and managing household chores
                                                                • Figure 24: Millennial confidence in household care and parenting skills (very confident), October 2017
                                                              • Millennial men could use some help at home
                                                                • Figure 25: Millennial confidence in household care and parenting skills (very confident), by gender, October 2017
                                                                • Figure 26: Can't Mess It Up! Maple Dijon Wild Pink Salmon (Canada, July 2017)
                                                              • Millennials lack confidence in handling finances
                                                                • Figure 27: Confidence in handling financial decisions (very confident), Millennials vs overall, October 2017
                                                              • Millennial women need more assistance when it comes to financial literacy
                                                                • Figure 28: Confidence in making major purchases (very confident), Millennial women vs Millennial men, October 2017
                                                              • Preference of tech interactions over face-to-face may be exaggerated
                                                                • Figure 29: Millennial confidence in interacting with others using technology and in-person (very confident), October 2017
                                                            • Optimism and Outlook

                                                              • Youthful optimism is real…
                                                                  • Figure 30: Optimism towards personal opportunities, October 2017
                                                                • …yet Millennials are uncertain of the economy
                                                                  • Figure 31: Optimism towards the Canadian economy, by generation, October 2017
                                                                • The future may seem more daunting due to a lack of skills
                                                                  • Figure 32: Couples finances – 79% of people don’t think they’ll reach their financial goals, June 2017
                                                                • Modern parenting styles impact expectations of Millennial parents
                                                                  • Figure 33: Optimism towards having a more fulfilling life than parents, parents vs non-parents, October 2017
                                                                • What success means to Millennial parents – In their words
                                                                  • Happiness is more ‘visible’ on social media and adds pressure on Millennial parents
                                                                  • Canada vs US: Millennials and Adulting

                                                                    • Parenting tips may resonate more strongly with Canadian Millennials
                                                                      • Canadian Millennials are less confident in parenting skills
                                                                        • Figure 34: Millennial confidence in parenting skills (very confident), Canada vs US, October 2017 (Canada)/March 2017 (US)
                                                                      • Canadian Millennial parents may be more open to guidance
                                                                        • Figure 35: Tonight we sleep, February 2016
                                                                      • Resources should star Canadian Millennial fathers
                                                                        • Financial guidance will resonate more strongly with Canadian Millennials
                                                                          • Canadian Millennials are more optimistic about personal opportunities
                                                                            • Figure 36: Millennial confidence in parenting skills (very confident), October 2017 (Canada)/March 2017 (US)
                                                                        • Appendix – Data Sources and Abbreviations

                                                                          • Data sources
                                                                            • Consumer survey data
                                                                              • Consumer qualitative research
                                                                                • Abbreviations and terms
                                                                                  • Abbreviations

                                                                                  Marketing to Millennials - Canada - January 2018

                                                                                  US $3,995.00 (Excl.Tax)