This report offers a complete analysis of Black American Millennials from a consumer perspective. Below, we’ve summarised the key areas covered, defined the report scope, and offer handpicked insights from the report itself.
Key Areas Covered
- Life satisfaction
- Outlook on life right now
- Biggest life stressors
- Current priorities and defining success
- Connections and keeping in touch
Report Scope
This Report examines Black Millennial consumers’ reported behaviours and perceptions of their lifestyle. This Report shows a comparative analysis between Black Millennials and the greater Black population. We focused on segments within the data to better understand Black Millennials’ values and lifestyle.
Mintel defines Millennials as the generation born between 1980 and 1996. In 2023, members of the Millennial generation are between the ages of 27 and 43.
US Black Millennial Consumer Overview in 2023
Black Millennials are the largest generation within the Black community, making up nearly 25% of the overall community. As stated in last year’s report, Black Millennials are focused on changing the narrative about the Black population and their size puts them in the right position to do just that.
How to Market to Black Millennials: Example Opportunity
Whether it’s health, finances, career, or families, Millennials have a lot on their plate. The task of simply maintaining their lives can lead to stress, due to all these moving parts. Overall, Black Millennials are thankful for where they are in life right now, but well over 50% of them agree that they are lacking in stability. Brands that prioritise products that help them organise and maintain their lives more seamlessly could help boost their confidence and their overall perception of life.
The above is just a snapshot of what our report contains. For a complete analysis of marketing opportunities available to brands, purchase the full report. Readers of this report may also be interested in our Black Americans and Symbols of Identity Report, or our US Marketing to Gen Z Market Report.
Additional Features Included in Your Report
Different Digital Formats: PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentation, as well as an Infographic and an Excel Databook.
Mintel’s Clients Portal: Our portal offers instant access to actionable analysis and trends pieces relevant to your industry that are published almost daily. You can also browse for more market research reports.
Expert Recommendations from a Specialist Analyst
This report, written by Courtney Rominiyi, a leading multicultural consumer insights analyst, delivers in-depth commentary and analysis to provide opportunities to market to Black Millennials.
“Black Millennials are at peak adulthood and their perspectives on life reflect such. As Millennials age, they are showing that their needs are similar to that of any adult who is building a career, raising a family, or both. Black Millennials are in need of supports for their respective life stage and are eager to create meaningful and successful lives for themselves and their communities.”
Courtney Rominiyi
Multicultural Consumer Insights Analyst
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
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Executive Summary
- Top takeaways
- Consumer Trends
- Life satisfaction is influence heavily by life stage
- Figure 1: Overall satisfaction with life, Younger Millennials vs Older Millennials vs overall, 2023
- Black Millennial parents need support to get on the same page
- Figure 2: Sentiment towards life right now, mothers with children under-18 at home vs fathers with children under-18 at home , 2023
- Financial standing is the top stressor for Millennials, but it plagues some more than others
- Figure 3: Top areas of stress right now, Younger Millennials vs Older Millennials, 2023
- Singles are concerned about their future and their relationships
- Figure 4: Biggest stressors, married Millennials vs single Millennials, 2023
- Connection matters and Black Millennials want to build and maintain meaningful relationships
- Figure 5: Attitudes towards making connections with friends and communities (agree), Younger Millennials vs Older Millennials vs overall, 2023
- Opportunities
- Help Black Millennials streamline their responsibilities
- Help Black Millennials connect – friendships and romantic relationships
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Black Millennials by the Numbers
- Black Millennials are the largest generation within the Black community
- Figure 6: US population by race and generation, 2023
- Figure 7: Black population by age, 2018-28
- Black Millennials are well educated
- Figure 8: Educational attainment of Black people aged 18 or older, by age, 2021
- Black Millennials are less likely to marry than other Millennials
- Black Millennials are the largest generation within the Black community
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Market Drivers
- Black Millennials have a positive outlook on their overall health
- Figure 9: Perceived Overall Health, Millennials vs Non-Millennials, 2022
- Black Millennials are more religious than other Millennials
- Figure 10: Self perceptions by a person of faith/spirituality (agree), 2023
- Black Millennials are visiting social media daily
- Figure 11: Visits social media sites daily, Younger Millennials vs older Millennials vs overall, 2023
- Black Millennials have a positive outlook on their overall health
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Black Millennials – Fast Facts
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Satisfaction with Life
- Current life satisfaction varies by life stage
- Figure 12: Overall satisfaction with life, Younger Millennials vs Older Millennials vs overall, 2023
- Millennials need more support overall, though what they need will vary
- Figure 13: Satisfaction and pride with current life stage (agree), Younger Millennials vs Older Millennials vs overall, 2023
- Millennial Fathers are much more likely to report feeling satisfied with life than their female counterparts
- Figure 14: Overall satisfaction with life (any satisfied), Mothers with children under-18 at home vs Fathers with children under-18 at home, 2023
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- Figure 15: Satisfaction and pride with current life stage (agree), Mothers with children under-18 at home vs Fathers with children under-18 at home, 2023
- Income impacts satisfaction for Black Millennials
- Figure 16: Satisfaction and pride with current life stage (agree), Less than $50k HHI vs More than $50K HHI, 2023
- Empower Black Millennials to achieve their dreams through money management: spotlight on Northwestern Mutual and Pinterest
- Current life satisfaction varies by life stage
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Describing Life Right Now
- Overall outlook is positive though Younger Millennials are more anxious
- Figure 17: Sentiment towards life right now, Younger Millennials vs Older Millennials vs overall, 2023
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- Figure 18: Financial considerations and support received (agree), Younger Millennials vs Older Millennials vs overall, 2023
- Mothers are more likely to be anxious, fathers are more likely to feel stable
- Figure 19: Sentiment towards life right now, 2023
- Maximize the sisterhood in motherhood with: spotlight on District Motherhued
- Figure 20: District Motherhued Instagram post, 2023
- Black married Millennials are more optimistic than singles
- Figure 21: Sentiment towards life right now, married Millennials vs single Millennials, 2023
- Overall outlook is positive though Younger Millennials are more anxious
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Biggest Stressors
- Financial stability is a weight for all but severity varies within the Millennial segment
- Figure 22: Top areas of stress right now (any rank), Younger Millennials vs Older Millennials, 2023
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- Figure 23: Stippl Instagram, 2023
- Black Millennial parents experience stress differently, fathers can use support
- Figure 24: Top areas of stress right now (any rank), Mothers with children under-18 at home vs Fathers with children under-18 at home, 2023
- Singles are more likely to be worried about their future as well as romantic relationships
- Figure 25: Biggest areas of stress (any rank), married Millennials vs single Millennials, 2023
- Financial stability is a weight for all but severity varies within the Millennial segment
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Current Priorities and Signs of Success
- Older Millennials are prioritizing health and finances, Younger Millennials are focused on relationships and careers
- Figure 26: Current priorities (any rank), Younger Millennials vs Older Millennials, 2023
- Definitions of success reflect current life stage
- Figure 27: Perceived signs of success in America, Younger Millennials vs Older Millennials, 2023
- Black Millennial parents have different priorities and views on success
- Figure 28: Sentiment towards life right now, Mothers with children under-18 at home vs Fathers with children under-18 at home, 2023
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- Figure 29: Perceived signs of success in America, , Mothers with children under-18 at home vs Fathers with children under-18 at home, 2023
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- Figure 30: Mansplaining How To Avoid Dull Skill | Lumin
- Older Millennials are prioritizing health and finances, Younger Millennials are focused on relationships and careers
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Making Connections and Keeping In Touch
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- Figure 31: Attitudes towards making connections with friends and communities (agree), Younger Millennials vs Older Millennials vs overall, 2023
- Fathers are struggling to maintain relationships despite frequent community interaction
- Figure 32: Attitudes towards making connections with friends and communities (agree), Moms with children under-18 vs Dads with children under-18, 2023
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- Figure 33: DADication Documentary
- Singles are much more likely to feel it is difficult to keep in touch with friends
- Figure 34: ”It is difficult to keep in touch with friends” (agree), single Millennials vs married Millennials, 2023
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Appendix – Data Sources and Abbreviations
- Data sources
- Consumer survey data
- Abbreviations and terms
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