"As most Millennials navigate their 30s and early 40s, brands can help them manage growing responsibilities and challenges with greater confidence."
Francesca Smith, Principal Consumer Lifestyles Analyst
This report provides a comprehensive look at the evolving needs and priorities of Millennials in the UK. This generation is currently navigating both early adulthood and midlife, presenting unique challenges and opportunities for brands. This report underscores the importance of aligning with Millennials’ priorities of financial stability, health, and social wellbeing to effectively engage this key demographic. Millennials are consumers born between 1980-1996. For the research in this report, Millennials are 29-44-year-olds.
Half of Millennials who don’t currently have children don’t want them in the future. Birth rates have been steadily declining over the past decade, and especially among women under 35. Whether driven by a desire to pursue other opportunities, the financial cost of raising a child, or concerns over raising children in modern society, these choices reflect a growing diversity in life priorities.
Millennials have a growing number of financial responsibilities and they report less positive financial wellbeing than all Brits. Many have been left financially scarred from the cost of living crisis and building up financial resilience is a major priority, now and in the future.
Millennials are now firmly in early adulthood and midlife, and the majority are looking forward to the next 10 years. There are opportunities for brands to help Millennials navigate the future, whether that is taking a holistic approach to anti-ageing or creating communities for them around life stages or shared interests to combat loneliness in the future.
For the purposes of this Report, Mintel has used the following definitions:
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