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They shop with friends, are in love with the deli section and are just as likely to do their grocery shopping at Target or Walmart as Kroger and Safeway. Millennials, the 80 million people now aged 16 to 34, have buying and brand preferences that in many cases diverge sharply from their parents.
Millennials—also commonly referred to as Generation Y and echo boomers—are the first generation to come of age in the new millennium. Unsurprisingly, the internet’s role is paramount among the age group’s media habits and usage. From shopping to socializing to watching TV, they do it all online. “Millennials represent a critical target for marketers, and the best place to reach them is where they are—online,” said Jared Jenks, eMarketer analyst and author of the new report, “ Demographic Profile—Millennials .” Millennials comprise nearly a quarter of the total US population, and are evenly split between males and females. Less than six in 10 are white, and aside from children under 18, millennials are the most ethnically and racially diverse generation in the country's history.
Slick clip unpicking the lives and motivations of the different generations of youth from the Baby boomers up until present day.
Digital media is trouncing traditional channels among up-and-coming Millennials : 81% of affluent Gen-Y adults use Facebook every day—roughly double the number who read newspaper content (45%) or watch TV (44%) daily, according to a new study by L2 . Moreover, 45% of such consumers read at least one blog every day.
It encompasses the wired interiors of the London and New York headquarters, the embrace of videos, Skype-ing between design team and factory, as well as the more outwardly visible live-streaming and 3-D filming of recent shows and the “Art of the Trench,” the Web site set up specifically to promote the iconic Burberry trench coat with the photo blogger Scott Schuman, known as the Sartorialist.
Millennials are the first generation to be raised with online media. As young adults, ages 18 to 34, these digital natives quickly adopt new technologies, then adapt them to fit their lifestyles. If something that suits them better comes along, they are quick to move on. Indeed, 24% of respondents in this age group chose “technology use” as the trait that sets them apart from previous generations, according to the Pew Research Center . Millennials’ media usage is also different from preceding generations.
Ask a brand marketer about word-of-mouth marketing and chances are he or she will talk to you about the internet. After all, with the advent of social media, consumers are most likely going to talk to their friends, family members and associates about your brand online, right?
There’s been a lot of talk about who millennials are and how different they are from ‘Gen-Xers’ and the ‘Baby Boomers’, but a lot of this commentary has to do with attitudes and priorities. Pew has recently done a study on millenials and how they access media and technology, which proved the basis for the graphic below.
A belief by young adults that "the world needs to be changed" is probably something that doesn't change from one era to another.
What does it mean for users to be willing to form relationships with a brand online and share them via the publicity of a “like” on Facebook, for example? As marketers ask whether such relationships will lead to increased sales, brand advocacy or other direct benefits, research suggests publicizing brand preferences is about users defining themselves. An ExactTarget study on Facebook fans’ motivations found that nearly two in five wanted to show their support for a company. They considered the brands they liked a form of self-expression . A Facebook profile, which lists brands that a fan is connected with alongside other interests, such as music, movies and books, is a venue for this self-expression. The company found it was very important for some users to show brands almost as a part of their own personality.
Two recent pieces provide some context and insights for how to best connect with the Millennial generation (broadly, spanning ages 11-31, born between 1978 and 2000) – who we know to be key to many brands’ long-term business relevance, as well as significant consumers of digital media. A piece at Marketing Sherpa discussed consumer psychologist Kit Yarrow’s year-long research project on Generation Y, which yielded insights into their motivations and interests. These insights can be applied by marketers to develop messages that will resonate with this audience: