A new generation of consumers: “Millennials.” Are you one?

July 22, 2016 Back to blog

The new generation of consumers are looking to have total control over the shopping experience and they need the freedom to try. Thus, brands are required to adapt to the characteristics of these individuals and take into account the shopping experience while also considering the products. “Millennials” represent 20% of the global population.

 

Who are the “Millennials?”

 

Millennials, or members of the Generation Y, are the young group born within 1979 and 1999. They are successors of Generation X and kids from the Baby Boomers. These individuals currently range between 19 and 34 years. The name “Millennials” came from the transition into adulthood just in time for the new millennium, an era of economic prosperity.

Generation Y represents 20% of the global population. The United States only has 80 million “Millennials.” This group has great influences within political, economical, social, and cultural realms. They are known to be academically ready and prepared. In general, they are the generation with an abundant disenchanted look of institutions such as the political class, religious life, etc.

However, according to Kathleen Shaputis, this generation tends to delay what previous generations considered suitable for adulthood. An example of a “Millennial” is NBA player LeBron James. He previously played for Miami for four years and has since returned to Cleveland to go back to his homeland.

 

LebronPhoto credit: Keith Allison via Foter.com / CC BY-SA

 

This generation has certain traits in common:.

A superior intelligence, clothes, technology, and pop culture are apart of the features according to a Pew Research study.

To continue, some of the characteristics in common within “Millennials” are the following:

  • Parents of “Millennials” had less kids than the previous generation, so the income of each “Y” kid is greater. 111% has been the increase in purchases when compared to their parents.
  • – During the “live your life” moment, an open mentality is more present than their parents, who sought to work and earn money at a permanent position as soon as possible.
  • – Three out of ten college degree earning individuals have experienced serious difficulty in finding employment and independence. This is also affected by the economic crisis from previous years.
  • – Even with that, expectations and leadership skills are spacious. 15% are already leading a company. Google, Amazon, Netflix, or Youtube are found in the top 10 companies where “Millennials” wish to work.
  • – It’s the last “non-native” digital generation. However, they’ve been brought up from technology, social, and Internet influences.
  • – According to ONTSI, the “Millennial” generation is the new prototype for online buyers.

 

Marc FacebookPhoto credit: deneyterrio via Foter.com / CC BY

 

A new generation of consumers:

 

The new generation of consumers are looking to take total control of the buying experience and they need liberty to try it out. Therefore, brands are required to adapt to the characteristics of these users and take into account the shopping experience as well as the actual product.

“Millennials” need to feel “in command” with their shopping transactions:

  • – The Internet is a natural tool on a daily basis: they buy, interact, and perform on all types of transactions on the web. 76% own a Smartphone and 90% use social media such as Facebook or Instagram.
  • “Millennials” are seeking to be treated in a personalized way. Thus, companies have to predict their needs and preferences to make it part of the brand. A good way to do this is through Big Data (we recommend reading http://www.ad-pure.com/moment-marketing-resources/el-big-data-uso-e-interpretacion-de-los-datos-en-moment-marketing/).
  • Classical advertising is no longer a good strategy to retain attention. Primetime TV has also become obsolete in their habits.
  • Omnichannel: Much of their daily relations are intermediated by a phone screen, tablet, computer. Companies should use a wide range of channels and devices to maintain communication with them.
  • – In this sense, the App sector is in luck. It’s a powerful selling tool which optimizes the user experience. The App Store have recorded 5 million worldwide downloads of daily applications.
  • Investigate what they buy: to improve the shopping experience, they truly value the opinion of previous buyers. Many don’t buy technology, hotel accommodations, car or travel insurance without consulting via the reviews. Social networks plays a major role in this regard since it’s also a preferred medium to interact with companies.

 
pandilla Millenials
 

58% of online consumers are “Millennials:”

 

“Millennials” love shopping. They spend 600 billion dollars each year. In 2020, it’s projected to be $1.4 trillion. However, they are cautious consumers who choose products according to their ideology. Some facts about their purchases:

  • – Spend 20% more in flights when compared to other generations.
  • – 65% go out to eat with friends on a normal basis.
  • – 43% follow more than 20 brands on Facebook.
  • – 41% makes these purchases from their mobile device.
  • – 60% have a subscription to a video streaming platform.
  • – 46% have a  paid TV service.
  •  

person-Ad-Pure
 

According to Entrepreneur, “Millennials” are a generation that some fear and others don’t understand. The truth is, above all, they’re a generation that everyone wants to attract. Deloitte anticipates that in 2025, “Millennials” will make up 75% of the global workforce.

 

 

 

 

 

 

 

References:

6 rasgos clave de los millennials, los nuevos consumidores

Millenials: los nuevos consumidores #infografia #infographic #marketing

http://www.abc.es/20121103/sociedad/abci-millennials-generacion-201211021603.html

Social networks are crucial to knowing where our brand is going and how it will connect with audiences. Major social networks will continue to include new features on their platforms. Following, all the news that will mark the decisions of the brands in social networks this 2017.

[INFOGRAPHIC] Social networks 2017: Everything a brand needs to know in order to obtain an efficient marketing strategy
Read More

Knowing the latest trends in digital marketing will certainly help us establish actions or strategies applied to our business, which will give us greater visibility on the Internet. This will allow us to be able to capture more leads, customers, and ultimately get more sales. 2017 is already here, and with the new year there […]

20 essential news about Digital Marketing for 2017 that every marketer should know
Read More

There exists a phenomenon in the way our brain functions that helps us improve our strategy, like building and reinforcing our audience. Following are a few of them.

[INFOGRAPHIC] Basic psychological concepts to better improve our marketing strategy
Read More

Despite new technological innovations, television continues to maintain its position.  

[INFOGRAPHIC] Television: The medium with the highest return on investment
Read More
[INFOGRAPHIC] The Christmas consumers: How is our behaviour during this peak season towards the brands?
Read More

Christmas is arriving earlier and earlier each year. And while the days on the calendar tell us one thing, advertising puts a lot into it so that up to two months before we are already thinking about gifts, ornaments, last minute purchases and returning home for Christmas. We can say that ads are an inherent […]

The Perfect Recipe for Christmas Ads: Special Top Ten Christmas Commercials of 2016
Read More

E-commerce is the buying and selling of products or services via electronic media such as the Internet. This allows us to be able to collect a series of e-commerce data concerning sectors, gender and meteorology. The latter affects (and much) to purchase decisions online users as to the operations of the companies.

[INFOGRAPHIC] What e-commerce data affects to purchase decisions?
Read More

The marketing campaigns for holidays such as Halloween or Christmas, as well as for events such as Black Friday or Cyber Monday are happening earlier and earlier every year. In cities like London, during the month of August we can begin to buy Christmas products in the main shopping centres.   Black Friday and Cyber […]

Black Friday and Cyber ​​Monday, and how to get a head start of Christmas shopping
Read More

Both events produce a special mood around Christmas, causing more publicity, shopping and the Christams spirit itself to arrive. Thanks to this, selling becomes easy.

[INFOGRAPHIC] Black Friday & Cyber Monday: An important shopping event both inside and outside the U.S.
Read More

When selling online, it’s essential to take into account the seasonal factor. The different times of the year are accompanied by corresponding climate traits: cold, rain, and snow in the winter, and hot temperatures in the summer. But, can we be sure this always occurs? What happens if we have a fairly warm winter like […]

What meteorology and seasonal influences (among other events) eCommerce?
Read More

Infographic: Multiplatform campaigns. The new way of reaching the consumers.

[INFOGRAPHIC] Multiplatform campaigns: The new way of reaching the consumers
Read More

Infographic: Current status and usage of social media.

[INFOGRAPHIC] Current status and usage of social media
Read More

Cognitive biases that influences the mind of the consumer.

[INFOGRAPHIC] Neuromarketing: Cognitive biases that influences the mind of the consumer
Read More

Tips on how to achieve horrifyingly great results.

[INFOGRAPHIC] How to incorporate Halloween into our marketing strategy?
Read More

Up until recent times, we have been watching TV and when the commercials air, we take the opportunity to do things like go to the bathroom or go running to the fridge to get something to drink. Today, it all has changed. Our tablets or mobile phones are with us at all times. Even when […]

TV Sync: A channel with immediate interest from the viewer.
Read More

The content that is streamed does not substitute traditional TV, it is complementary.

[INFOGRAPHIC] Traditional TV vs. TV Streaming
Read More

Internet, one of the greatest winners (after television).  

[INFOGRAPHIC] Global Ads Spend: Summary of 2016 and forecast of 2017
Read More

Real-time Moments of Sync: great opportunities captivating the attention of the TV viewers.  

[INFOGRAPHIC] Real-Time Moments of Sync
Read More

Until relatively recently Halloween was best known as an American tradition, but it seems that many Brits are now firmly digging their claws into the hubble bubble holiday. As the month of October starts, we are likely to witness the preparations and signs of Halloween all around us — people dressed up in costumes, candy […]

Are you prepared for Halloween 2016?
Read More

This type of marketing, also known as real-time marketing is a key factor in your strategy because of the immediacy of response that it gives to brands. That is why they have a duty to be the latest (to the point of even anticipating) the events that cause social upheaval, in order to create timely, […]

What is Moment Marketing (and what is not)? Steps to carry out your Moment Marketing Plan
Read More

To make effective measurements of our campaigns that tell us whether we have reached the return of the deposit or ROI, the first thing we ask is what are the measurable elements in email marketing. When you send an email marketing campaign from a delivery platform, we automatically generate different data that can even be […]

Tips on how to measure the success of our email marketing campaigns
Read More

The summer and holidays are full of activities and events to attend. And the weather greatly influences what happens at this time. That is why our behaviours vary and so do the initiatives we take to perform certain activities and not others different. When it’s hot, we crave different things. Weather forecasts give us the […]

An Olympic summer: How can we take advantage of our brand during this season?
Read More

Back to school marketing and sales

[INFOGRAPHIC] Back-to-school: Marketing and sales
Read More

How to save time and money in your marketing strategy? Keep on reading:

[INFOGRAPHIC] 5 Revolutionary formulas to save time (and money) in a marketing strategy
Read More

Moment Marketing shows how the world is not independent of consumers.

[INFOGRAPHIC] Moment Marketing: Opportunities with our users in real-time
Read More

The Olympic Games have always been a place for brands. Like atletes, the compete with other companies to gain the attention of an audience, in this case, globally.

[INFOGRAPHIC] OLYMPIC GAMES: A place for brands
Read More

Multiscreen consumers are more observant than single screen viewers.

[INFOGRAPHIC] Multiscreen consumers: The most observant of all users
Read More

Steps to achieve success with your Moment Marketing Plan.  

[INFOGRAPHIC] Moment Marketing Plan: Steps to achieve success with your real time plan
Read More

The new trigger from Ad-Pure, TV Sync, lets you synchronize your online campaigns with your TV commercials.

[INFOGRAPHIC] Ad-Pure’s TV Sync
Read More

Moment Marketing is the strategy in the marketing universe that stands out by the speed of reaction and by doing so, the brands arrive to the consumers before any competitor. With the launch and subsequent success of the new App Pokémon Go, we clearly see the consequences of moment marketing on products, as you already […]

How can Pokémon Go and Moment Marketing benefit your brand? Examples of real-time strategies
Read More