2. Greatest
Generation
Silent
Generation
Baby
Boomers
Generation
X
Millennials
Generation
Z
Pre - 1933 1933 - 1945 1946 - 1964 1965 - 1979 1980 - 1995 1996 - Present
MILLENNIALS in CONTEXT
Every generation sees itself as the “Greatest
Generation” (not just those born prior to 1933).
Every generation sees itself as being different
and special. But the truth is that human
commonalities across generations far outweigh
differences - for after changes upon changes in
the world we live in, human nature remains more
or less the same.
3. Greatest
Generation
Silent
Generation
Baby
Boomers
Generation
X
Millennials
Generation
Z
Pre - 1933 1933 - 1945 1946 - 1964 1965 - 1979 1980 - 1995 1996 - Present
WHY ALL THIS MILLENNIAL FUSS?
Millennials are not just important because they are at the prime of life and as
such highly acquistive - they are also one of the biggest segments of the
population. So winning the marketing war, inevitably means winning the hearts
and minds of these “Echo Boomers” (children of the Baby Boomers)
Source: Census 2013
5.8
23.4
75.0
62.3
73.6 73.7
Population (millions)
Percent of Total
23%2% 7% 24% 20% 23%
5. MILLENNIALS (18-34) GEN X (35-49) 50+
MILLENNIALS ARE THE LARGEST HISPANIC CONSUMER GROUP
Source: Simmons – Summer 2014 – Hispanic Base
MILLENNIAL SHARE PER CATEGORY
ARE
SMARTPHONE
USERS
ARE
COMPUTER
USERS
HAVE TRAVELED
DOMESTICALLY
IN PAST YEAR
ARE FAST FOOD
EATERS
VISITED A
SUPERMARKET
THIS MONTH
ARE ALCOHOLIC
BEVERAGE
DRINKERS
VISITED A
SHOPPING MALL
IN PAST MONTH
51%
47%
39%
45%
42%
42%
44%
31% 19%
31% 22%
31%
30%
30% 24%
31%
27%
34% 24%
31%
25%
Demographic breakdown
of people that …
6. AT NEARLY A QUARTER OF THE US POPULATION…
MILLENNIALS ARE DRIVING THE FUTURE!
AND THIS IS WHAT YOU NEED TO KNOW:
Millennials are Optimistic about the Future
They are Driven by their Social Connections
and they are Digital Natives
8. Unemployment rates in the past few
years have been at their highest
since the 1980’s.
And while Millennials are the most
educated generation today, many
Have been facing tough times
in spite of their degrees.
COMING OF AGE IN DIRE ECONOMIC TIMES
A DEGREE IS NOT A
GUARANTEE OF A JOB
≠
0%
2%
4%
6%
8%
10%
12%
1954 1964 1974 1984 1994 2004 2013
UNEMPLOYMENT RATES
PERCENTAGE OF GENERATION THAT IS ENROLLED
IN OR HAVE GRADUATED FROM COLLEGE
Millennials 50%
Gen X 47%
Baby Boomers 44%
Source: Bureau of Labor Statistics / Simmons – Summer 2014 – All Adults
9. Many Millennials have stayed home or are
never far away from their families.
In fact, Thirty-six percent say they depend
on financial support from their families, and
many have “boomeranged” back because
of the recession after living on their own.
Many millennials have grown up with parental
support and encouragement and have been able
to experience relatively comfortable lifestyles.
But lets remember that the story of the millennial
generation is not homogeneous - approximately
20% of American millennials are living in poverty
and have not been so privileged.
VML: Millennials an overview
Source: VML: Millennials: an Overview
MILLENNIALS ARE STICKING TO FAMILY FOR SUPPORT
10. Source: Hispanic Millennials: Living at Home, Delaying Marriage, and Focusing on College – January 2014
MTV TR3S
45% of Hispanic Millennials are still living with family. They are 20% more like than
Non-Hispanic
But this statistic is not so surprising given that Hispanics place such high importance
on family life as a core value.
Traditionally, Hispanics are
more likely to live in a multi
generational home, where
everyone is expected to do
their part.
In doing so, 72% of Hispanic
Millennials also help with
paying the bills in the house.
FOR HISPANICS SPECIFICALLY, FAMILY IS EVERYTHING
11. Source: PEW Research Center – Millennials in Adulthood
THE DELAYING OF ADULTHOOD
Living at home has allowed Millennials to
postpone big life decisions – like delaying
Marriage until they are economically stable.
When it comes to kids, only 42% of grads
today say they are planning to have
children, compared to 78% in 2002.
% that got Married
at age 18 to 32, by generation
Millennials 26%
Gen X 36%
Baby Boomers 48%
12. In spite of levels of unemployment and
record numbers of student debt,
Millennials believe in the potential for
personal improvement and are more
upbeat about the future.
BUT MILLENNIALS REMAIN THE MOST OPTIMISTIC !
% agree Millennials Gen X
Baby
Boomers
“I earn enough now (or will in the
future) to lead the life I want”
85% 68% 60%
“I believe the country’s best
years are ahead of us”
49% 42% 44%
Source: PEW Research Center – Millennials in Adulthood
13. Source: Simmons – Summer 2014
Index vs Total Millennials
Hispanic Millennials GM
Millennial
I am an optimist 102 99
I would like to set up my own business one day 119 80
I want to get to the top of my career 124 78
HISPANIC MILLENNIALS HAVE AN ESPECIALLY POSITIVE
OUTLOOK
14. HAPPINESS PASSION DIVERSITY SHARING DISCOVERY JUSTICE INTEGRITY FAMILY PRACTICALITY DUTY
VALUES THAT ARE STRONGER
FOR MILLENNIALS
VALUES THAT ARE STRONGER
FOR OLDER GENERATIONS
Source: Iconoculture - Inside the Millennial mind
MILLENNIALS (18-34) BOOMERS (50-68)
MILLENNIALS PRIORITIZE HAPPINESS AND PASSION
15. MILLENNIALS ARE LESS CONSERVATIVE
Source: PEW Research Center – Millennials in Adulthood
% agree Millennials Gen X
Baby
Boomers
“I am politically independent” 50% 39% 37%
“I am religious” 36% 52% 55%
“I am patriotic” 48% 64% 75%
16. AND THEY ARE MORE OPEN MINDED
Source: PEW Research Center – Millennials in Adulthood
% agree Millennials Gen X
Baby
Boomers
Support same-sex marriage 68% 55% 48%
Support multi-racial marriages 50% 38% 33%
Support marijuana legalization 69% 53% 52%
17. VULNERABLE | While consumers expect brands to uphold the core values
that they stand for, Millennials understand that brands make mistakes. What’s
crucial to Millennials is that brands are accountable for their shortcomings.
TRADITIONAL | There’s something to be said about tradition. Deeply rooted
customs and beliefs of a brand enrich the trust that Millennials forge with
them.
TRANSPARENT | Simply put, Millennials value honesty. They want brands to
act ethically and responsibly and they want to know about it. Brands that are
forthcoming about these practices are golden.
TRUE TO THEMSELVES | Brands that possess a strong understanding of
where they stand in the market place, and how consumers perceive them are
best able to capitalize on this, and you can bet Millennials will be the first to
pick up on it.
30% of Millennials are cynical about the way brands market themselves indicating that brands
can find true value in enhancing the authenticity of their image.
So what does authenticity look like? Well it takes on a variety of forms.
MILLENNIALS CRAVE AUTHENTICITY
Source: Media Post 2013– Unlocking The Power Of Authenticity With Millennial Consumers
19. An important caveat to exploring the Millennial Generation is to understand
that even though they have commonalities, “Millennials” should not be
thought of as one homogeneous group.
Think about it, life between the ages of 18- and 34 represents some of the
most formative years in a person’s life and as such holds within it at least
two distinct stages.
NAVIGATING THROUGH LIFE’S BIGGEST STAGES
Dating
Graduation
First Job Having a baby
20. Generally we can group Millennials into at least two characterizations:
SEGMENTING THE MILLENNIALS
Dating
Graduation
First Job
Having a baby
Younger Millennials Older Millennials
who are establishing their roles in the world.
They are Aspirers, on the path to find success.
who are just growing into adulthood.
They are Explorers, looking for new experiences.
18 - 24 year-olds 25 - 34 year-olds
21. The Explorer
These people are driven by a need for Discovery,
Challenge and new Frontiers.
Young in nature, if not reality, Explorers are often
the first to try out new ideas and experiences.
They respond to brands that offer new
sensations, indulgence and instant effects.
Difference is what they seek out.
18 - 24 year-olds 25 - 34 year-olds
22.
23. The Aspirer
Ambitious people who desire to achieve a status
of success. They are always looking ahead to
what they want to become, and they work on
looking the part on their way up.
As a result, they appear to what others perceive
as being superficial. An attractive package can
be as important to them as its contents.
Their core need in life is for achievement.
18 - 24 year-olds 25 - 34 year-olds
24.
25. DIGITAL NATIVES
BORN IN A DIGITAL WORLD
Every generation’s traits are defined by the world that surrounds them.
For Millennials that means that life in always ON, always connected.
Technology is their second skin.
26. Source: Simmons Summer 2014 – Full year study
81% of Millennials own Smartphones
71% have used their phone to access the Internet
or their email on a typical day
Versus 56% for people 35+
HAVING THE WORLD IN THE PALM OF THEIR HANDS
27. Phone calls
Can be just as meaningful as
in-person get–togethers
Retweets or “Likes”
Can be more relevant than an email
Texts
Can carry the weight of a phone call
Emoticons and emojis
Are just as impactful as the real thing
Source: Iconoculture
TECH IS REDEFINING THE RULES OF ENGAGEMENT
28. 53% would give up their sense of smell
instead of their social networks
27% prioritize keeping up-to-date
on Facebook above dating, listening to
music and going to parties
56% would refuse to work at a
company that bans social media
Source: CISCO, McCann Worldgroup research
SOCIAL MEDIA IS THEIR SIXTH SENSE
29. Source: Millennials Check Their Phones 43 Times a Day. This Is What They're Looking For. (Infographic) – June 2014 and Huffington
Post- Americans Addicted to Checking Smartphones and PEW Research Center – Millennials in Adulthood
CHECK WHILE
DRIVING
32%36%
DURING A MEAL
WITH OTHERS
54%
LAYING
IN BED
51%
WHILE USING
THE BATHROOM
% Of Millennials who check their phones…
Millennials have a massive fear of missing out (FOMO)
on something fun, or a social event that may happen
on the spur of the moment — it is so intense that even
when they decide to disconnect from technology, they
still connect just once more, just to make sure.
Millinnenials check their smartphones 43 times per
day and send and receive an average
of 88 texts a day
THERE IS A NEED TO BE CONNECTED AT ALL TIMES
30. Source: Barkley Research, BusinessNewsDaily.com / Univision, Decoding Y: Millennials Revealed
THEY ARE HYPER-CONNECTED AND HYPER-SOCIAL
68% of Millennials won't make a major decision
without running it by their network first.
Their top sources of influence are:
“Asking family and friends” 82%
“Online reviews” 76%
31. Source: PEW Research Center – Millennials in Adulthood
MILLENNIALS MANAGE THEIR NETWORKS LIKE A BRAND
HOW MANY FOLLOWERS DO I HAVE?
Median number of Facebook friends
Millennials 250
Gen X 200
Baby Boomers 98
DO PEOPLE THINK I AM COOL?
% saying they have shared a selfie
Millennials 55%
Gen X 24%
Baby Boomers 9%
THEY ARE OBSSESED WITH PERCEPTION
32. Have uploaded content to the web
Have their own website
Have their own blog
SOCIETY HAS MOVED FROM
“15 MINUTES OF FAME” TO
“BROADCAST YOURSELF”
60%
28%
26%
Source: Millennials Check Their Phones 43 Times a Day. This Is What They're
Looking For. (Infographic) – June 2014 and eMarketer
On an Average day Millennials share an average
of 6 pieces of content via Social Media and 5 via
email
33. Millennials watch online video
at nearly twice the rate of the general
adult audience
60% of people 18-29 are seriously
considering giving up paid television
When they do watch TV, it’s different now.
It is shared beyond the room.
More than 1 in 4 Millennials Tweet
about a TV program while watching it live
Source: JD Power and Associates/ ReadWriteWeb.com
RISE OF ONLINE VIDEO & DECLINE OF TV
34. HISPANIC MILLENNIALS ARE EVEN MORE DIGTIALLY NATIVE
81% Own Smartphones 89% use Social Media
Source: MEDIA SCAN - MultiMedia Usage - SPRING 2013
Simmons Summer 2014 –Full year study
29.13 24.35 11.92 6.02 5.63 1.8 1.7
TELEVISION COMPUTER RADIO VIDEO GAMES SMARTPHONES MAGAZINES NEWSPAPERS
Digital Outlets surpass traditional TV 36hrs
Hispanic Millennials’ Weekly Media Usage (Hours)
THEY ARE ESPECIALLY IN THE LOOP WITH MOBILE AND SOCIAL
35. SO HOW SHOULD A MARKETER
NAVIGATE THIS NEW GENERATION?
36. DO NOT OVER-SIMPLIFY THE GENERATION
Millennials are not a homogeneous group. Identify core
segments and understand their lifestages.
EMBRACE DIVERSITY
Be sensitive to themes of multiculturalism and Millennials’
cross-cultural values.
BE PARTICIPATORY
Millennials are content creators and want to be heard. Engage
them in a manner that will encourage them to get involved.
DO NOT CUT CORNERS ON EXPERIENCE
Millennials seek novelty and excitement. Deliver experiences
that makes them think they aren’t losing out.
LEVERAGE TECHNOLOGY
Take advantage of the core strength of each channel to engage
with Millennials. Think multi-channel.
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