It wasn’t too long ago that Millennials were young adults and the main focus of the market – a role now filled by Gen Zs. With age, Millennials’ lives have become more stable (eg homes, partners, kids, careers) but also much busier. Millennials now need a balanced approach that juggles both the present and the future, tackling the day-to-day while putting themselves in a position to succeed in the years and decades ahead. The result is that their attention is fragmented, making them open to solutions that help simplify those responsibilities.
Those Millennials will continue to be a key target going forward, if for nothing else but their population size; they’re the largest generation in the market. Their finances are tight as a result of all their responsibilities and commitments – and could get tighter as their mortgages renew at higher rates – but their overall purchasing power is strong and will grow with their incomes.
So while Millennials may not have the financial flexibility of Gen X (or even some Baby Boomers) today, they’re a cohort to invest in because they’re moving in the right direction. Specifically, Canadian brands have a unique opportunity to build a bond with these consumers today amid a groundswell of ‘Buy Canadian’ support – and because of Millennials’ young age, that bond could pay off for years down the road.
Millennials have settled into stable lifestyles, but now hold a range of responsibilities and priorities in their busy day-to-day lives.
Scott Stewart, Associate Director, Lifestyles & Retail
Millennials are defined as the generation born between 1980 and 1996 (aged 29-45 in 2025). Where mentioned, older Millennials refers to those born between 1980-1988 and younger Millennials were born between 1989-1996.
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
Access high-quality market research with every purchase of Mintel’s consumer reports. Here’s what else is included in your report purchase:
From consumer reports to customised growth strategies. We have an option to suit your business requirements.
Find out more£ 3,695
When Gen Zs are asked what makes their generation different than Millennials, the most common response is that they're more depressed and stressed; just 13% of Gen Zs...
Find out more£ 3,695
Parents are three times as likely to want help keeping their house clean as they are the want help supervising their children; they're twice as likely to want...
Find out more£ 3,695
The Baby Boomer generation may not have the market influence it once did, but its size and financial flexibility makes it a group that cannot be overlooked. Scott...
Find out more£ 3,695
Settling in Canada poses challenges (for many, the cold weather was tougher than expected) but also many opportunities to establish roots in this country (like celebrating Canada Day...
Find out more£ 3,695
There's nothing especially unique about Gen X – and that's exactly what makes them especially unique. They share some tendencies with Millennials and others with Baby Boomers; and...
Find out more£ 3,695
Digital advertising in Canada is currently navigating a complex landscape shaped by consumer preferences and regulatory changes. A significant portion of Canadians express a desire to skip digital...
Find out more
When I’m investigating specific sectors I tend to use Mintel reports for their forecasting, which I’ve always found to be very accurate.
They also offer really broad and deep coverage in their reports. They are very, very detailed. For example, we were able to gain insight across a wide range of business areas from just one report, proving that Mintel is excellent value for money.
So overall, it’s the level of detail and the quality of forecasting that really stand out for me.
We utilize Mintel Reports, Trends and Comperemedia to mine for insights across the numerous business verticals that Epsilon serves, such as CPG, automotive, telecom, healthcare/pharma, retail and financial services.
By integrating Mintel insight into new business opportunities, we have been able to gain the competitive edge necessary to advance partnerships with global brands and key business players.
For our organization, it’s about depth and breadth. Having one without the other doesn’t enable success in our business.
We use Mintel Reports, mostly for financial services and ecommerce markets, plus a few retail and technology ones.
As a leading payments provider, we value additional insights into consumer behaviour, opinions and trends that are shaping the many different markets we operate in. Mintel is a very good and very quick way for us to obtain those insights.
We use Mintel to get a view on where a particular market is going, which can support us in product development and help us identify opportunities or indeed risks, it is a very useful barometer of a market’s potential.
We have such a great working relationship with Mintel on lots of different levels. As an insight partner, they have helped us to develop our business planning in specific categories as well as supporting our creative process but they’ve also been super helpful with facilitating our events in their inspirational offices near St Paul’s.
They’re an innovative company, with a client-focused team that always delivers.
Mintel is really good for getting a handle on a particular category quickly. If we are working on a new business pitch in an area we don’t have much experience in, it’s a brilliant way to get up to speed with what’s going on, what’s changing and what the key trends are in any category.
It’s very rare now that anyone will plough through a 200-page report – that’s why the summaries are really useful. We know they are backed up by a lot of detail, so if you need to go into something in more depth you know the information will be all there for you.
From consumer reports to customised growth strategies. We have an option to suit your business requirements.
Find out more
