1. BENIGN
MILLENNIALS
The millennial generation This generation had a non- Irish millennials are the
(18-30 year olds) are linear attitude to life stages most likely in Europe to
uneasy. Professional – each envious of the other. admit they don’t really
setbacks have shaken this They move from college to understand pensions and
generation of their rat-race backpacker to professional, savings policies with 40%
mentality and they value and back to backpacker, agreeing (Source: Aviva
their youth more than constantly adapting to meet 2012)
previous generations. They the varying circumstances
are prepared to switch and opportunities available
around their life stages but in today’s economy. “Finance and
they have more
conservative values than Changing Priorities money are
they care to admit. This is a Their priorities have also
generation that know changed: A 29 year old told less of a
exactly what they have to MCCP “… it used to be
lose. They have high extremely rich and central point
expectations for themselves successful, own 25
and of everyone else and, properties and be on a in their life”
being innovative quarter of a million euro
themselves, expecting salary but as I got older it is This lack of interest in
innovations from brands is just to be healthy.” (Source: finance translates into
second nature. MCCP Consumer Dialogues millennials who struggle to
Male 29yr old Cork). This imagine the long-term. 56%
73% of 18-24 year olds shift in priorities can be of millennials are worried
(versus 48% of 35-44 year observed across a majority that they won’t be able to
olds) agree that since the of millennials, with finance save enough money to
recession, they feel more and money becoming less afford an adequate
pressure to succeed. of a central point in their standard of living in
life; retirement, 55% are much
mccp.ie For more information on Millennials contact: kathy@mccp.ie
ph (01) 6350030

2. more focused on figuring community-orientated and Vinyl sales have increases
out how to cover current politically-engaged than for the sixth year running –
expenses than planning previous generations. These this is at the same time as
long-term finances (Source: views are largely incorrect. the rise of digital music.
Aviva 2012). However, millennials aren’t International ‘record store
as ‘do-gooder’ as we think. day’ was established in
Pressure to succeed New data has revealed 2007 to represent this
Younger people feel the children of the ’80s and ’90s growing product category.
pressure to succeed more are more focused on But what are the
strongly with 73% of 18-24 money, image and fame implications for marketers?
year olds agreeing with the than on community issues.
statement ‘Since the This generation are the Firstly, millennials are
recession I feel more most tech savvy yet, and driven by different needs
pressure to succeed’. are true digital natives. and expectations than
However, their playful previous generations. They
attitude to technology are diverse, highly educated
“Global doesn’t mean physical and solidly influential
features are not cherished. shoppers.
studies show
that 70% are
positive
about getting
the job they
want at some
stage”
However, this cohort are Adoptive behaviour They are more ethnically,
still stunningly confident Millennials are known for economically, and socially
and optimistic despite any their willingness to adopt diverse than any previous
setbacks they may have new technologies but they consuming generation.
encountered, even if their still value brick-and-mortar
expectations do not always financial institutions. 31% of They are also Digital Natives
stack up to reality. Global 18-34-year-olds (US) who – 60% review products
studies show that 70% are switched banks in the past online, this means that
positive about getting the 12 months did so for more brands need to engage with
job they want at some convenient branch consumers online and
stage. 76% believe that they locations; 28% who did so through new media. Brands
can teach older colleagues for more access to ATMs. that are doing this well are
things. But it’s not just financial Apple, whose dedication to
services that these style and utility meets the
The popular view of the consumers value the needs of this generation,
millennial generation is that physical over the digital. and GHD, who meet a core
they are more caring, need and expectation of
mccp.ie For more information on Millennials contact: kathy@mccp.ie
ph (01) 6350030

3. this cohort: total control Kathy Troy is Strategic
even over hair. Planner at MCCP
So what are the The Planning Agency who
implications for brands? work with some of Ireland’s
Like any cohort or largest brands to help game
generation, stereotypes are change through better
not representative of consumer insights and
millennials. Yes they are sharper strategy (brand,
more demanding at work, communications and
but they are proactive and innovation).
motivated to succeed. Such
complex motivations must
be understood.
“The path to
these goals is
non-linear”
This is a group who want a
good job, house, and 2.5
children, but due to the
recession they know that
the path to these goals is
non-linear – help millennials
on their life path by helping
them in surprising ways,
with small victories that
relate to big dreams.
Millennials are tech savvy,
but not digital for the sake
of it. Smartphones and
other tools are just that,
tools, so brands should
develop content and
features that meet needs,
because the platform is not
enough. Millennials also
cherish physical items and
have a refined set of
commercial needs and
wants – produce products
and have a brand that they
can value.
mccp.ie For more information on Millennials contact: kathy@mccp.ie
ph (01) 6350030