Marketing to Millennials - UK - July 2019
Millennials account for 26% of the total population in 2019, making them the largest Generational group. However, much of the size of this cohort can be attributed to the large age range it comprises. For this reason, the overarching Millennial Generation is often split into two separate groups: ‘Younger’, comprising those aged 20-29; and ‘Older’, including 30-39-year-olds.
These two groups can have very different lifestyles and needs. While Older Millennials are increasingly settling down and starting a family, Younger Millennials are still entering the workforce with their new incomes, making them a more important audience.
“As Millennials continue to grow up, the needs of this broad generation become ever more diverse. Older Millennials are increasingly looking to settle down and start a family, and there are particular opportunities for financial services providers to help them with these goals. Equally, with Younger Millennials mostly now finished with their education and entering into the workforce, their new and growing incomes make them a more important commercial prospect for all brands.”
– Jack Duckett, Associate Director – Consumer Lifestyles
This Report looks at the following areas:
- A focus on Millennial savings
- Opportunities to nurture real-world socialisation
- Millennials: the linchpin for family connectivity
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