"Millennials' wealth and high level of purchasing activity make them attractive consumer targets, but as digital pioneers their signifiers of trust continuously evolve."
Hiro Takemasa - Senior Consumer Lifestyles Analyst
This report provides a comprehensive look at the evolving needs and priorities of Millennials in the US and how brands can effectively market to and connect with this generation. Millennials are consumers born between 1980-1996. For the research in this report, Millennials are 29-45-year-olds.
Millennials are entering their prime earning years and are chasing Gen X in home ownership, having children and increasing their disposable income. Millennials are differentiated from older generations with their greater familiarity with the modern information ecosystem. This familiarity, and their growing social seniority explain their positivity towards information sources, compared to other generations. However, a majority of Millennials still agree that they feel overwhelmed by too much information.
Another key differentiator is Millennials’ “activity mandate,” expanded consumer expectations on the quality, volume, and frequency of activities and experiences. The seeds of this mandate were planted during an activity-rich childhood (compared to latchkey Gen X), and is cultivated by the social comparison that accompanies modern social media.
Millennials, and the generations that follow, are acclimated to a constant stream of information and have developed sophisticated filtering mechanisms. They often rely on trusted curators, niche influencers, peer groups or media brands to help them navigate the noise. Brands seeking their attention and business must similarly invest in information quality. Compelling messages and emotional storytelling must be properly supported to meet Millennials’ ever-evolving criteria for credibility.
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