Marketing to Millennials - US - June 2017


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Mintel

$ 3995

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The Millennial generation is aged 23-40 in 2017, with many on the precipice of major life decisions. As this generation contemplates buying a home, getting married, and having children, these lifestyle changes will likely have them reconsidering their purchase habits. At this stage, Millennials provide fertile ground for marketers looking to win over new customers

Table of Content

OVERVIEW
What you need to know
Definition

EXECUTIVE SUMMARY
Figure 1: Births in the US (millions), Mintel generational cut-offs, 1930-2015
The issues
Sharing economy is still niche – even among Millennials
Figure 2: Sharing/gig economy participation, Millennials indexed to average, March 2017
Millennials are confident, but not experts
Figure 3: Adult behaviors – select items, by generation, March 2017
Millennials more optimistic about issues within their sphere of influence
Figure 4: Millennial attitudes about life, March 2017
The opportunities
You can take their Tinder, but you’ll never take their Netflix
Figure 5: “Must have” online services, Millennials indexed to average, March 2017
Millennials show an expanded use of social media
Figure 6: Millennials’ opinions on social media, Millennials indexed to average, March 2017
Millennials provide testing ground for new trends
Figure 7: Trends that have a positive impact on Millennials, Millennials indexed to average, March 2017
What it means

THE MILLENNIAL MARKET – WHAT YOU NEED TO KNOW
Millennials make up a quarter of the US population
Unmarried Millennials are pairing up with friends and partners
Most Older Millennials are starting families
Millennials value education
Some may face financial strain

THE MILLENNIAL GENERATION BY THE NUMBERS
Millennials are the largest US generation
Figure 8: Share of US population, by generation, 2012-2022
Millennials influenced by a diverse population
Figure 9: Generations, by race and Hispanic origin, 2017
Millennial living arrangements
Figure 10: Living arrangements among adults aged 18 to 34: 1975 and 2016
Asian Millennials most likely to be living with spouse
Figure 11: Living arrangements of young adults aged 18-34, by race, 2016
Majority of older Millennials are parents
Figure 12: Households with own children under age 18, by age of householder, 2016

MILLENNIAL CHARACTERISTICS
Education is a key Millennial milestone
Figure 13: Milestones of adulthood, 2012
Millennial women have made substantial economic gains
Figure 14: Economic and educational characteristics of young adults aged 25-34, 1975 and 2016
Budgets may be stretched
Figure 15: Current financial situation, Millennials vs all, December 2016

KEY TRENDS – WHAT YOU NEED TO KNOW
Brands fight through the clutter with a political message
Millennials accelerate adoption of new technologies
Traditional cable news still appeals to some Millennials
Millennials reach milestones
Luxury is being redefined
Turning Millennial passion into action

WHAT’S WORKING?
Brands take a direct approach
Figure 16: Heineken | Worlds Apart | #OpenYourWorld, April 2017
Figure 17: Your Brain on Drug Policy | Rachael Leigh Cook, April2017
Figure 18: Audible Oscars Commercial: Zachary Quinto – “1984,” February 2017
Figure 19: WARNING: We’re Saving Small Talk | The Weather Channel, April 2017
Figure 20: Are you afraid of flying? | Royal Jordanian Airlines, April 2017
Millennials empty their wallets
Figure 21: Attitudes toward financial trends, by generation, January 2017
Making good use of flexible work arrangements
Cable news attracts a younger audience
Millennials drive competition in the ride-sharing space
Figure 22: Ride sharing frequency, usage by generation, December 2016

WHAT’S STRUGGLING?
Millennials face the rising costs of parenting
Traditional brands may not find favor with the younger crowd
Figure 23: Card Benefits from Chase, Loyalty email, April 2017
Figure 24: American Express, Loyalty email, April 2017
Millennials may be passionate, but inactive
Millennials rely on disposable furniture
Figure 25: VCF – Boss of the Bedroom, April 2017

WHAT’S NEXT?
Millennials enroll in “adulting” classes to fill in knowledge gaps
Millennials in the market for homes
The new luxury consumer
Figure 26: Grow up. Trailer – Mercedes-Benz original, March 2017
Figure 27: #OpenTheNow – Epic Ping Pong with Roger Federer - Moët & Chandon, November 2015
Fintech attracts young investors
Figure 28: Wealthsimple Super Bowl Ad – Mad World, January 2017
Millennials find an “oddly satisfying” way to unwind

THE CONSUMER – WHAT YOU NEED TO KNOW
Digital entertainment is a “must have”
Millennials open to social connections with brands
Millennials embrace new trends with open arms
Sharing economy supported by Millennials
Fear of “adulting” is more hype than happening
Age, sex, and education drives optimism

MILLENNIALS’ MUST HAVE SERVICES
“I want my MTV” is now “I want my streaming services”
Figure 29: “Must have” online services, Millennials indexed to average, March 2017
Similar to iGens, young Millennials find YouTube an essential
Figure 30: Millennials’ “must have” online services – select items, by younger and older, March 2017
Employed Millennials seek convenience
Figure 31: Millennials’ “must have” online services – select items, by employment status, March 2017
Hispanics on the bandwagon for the most popular services
Figure 32: Millennials’ “must have” online services – select items, by Hispanic origin, March 2017

OPINIONS ON SOCIAL MEDIA
Brands more likely to reach Millennials through social
In their words
Figure 33: Millennials’ opinions on social media, Millennials indexed to average, March 2017
Younger Millennials open to brand connections
Figure 34: Millennials’ opinions on social media – select items, by younger and older Millennials, March 2017
Women feel the brunt of social media negativity
Figure 35: Millennials’ opinions on social media – select items, by gender, March 2017
Black Millennials make social media work for them
Figure 36: Millennials’ opinions on social media – select items, by race, March 2017

PERCEPTIONS OF TRENDS
Millennials have more positive views of social media
Figure 37: Trends that have a positive impact on Millennials, Millennials indexed to average, March 2017
The youngest Millennials engage in internet activism
Figure 38: Trends that have a positive impact on Millennials, by age, March 2017
Men may find social media more inviting
Figure 39: Trends that have a positive impact on Millennials – select items, by gender, March 2017
Limited regional differences on minority inclusivity
Figure 40: Trends that have a positive impact on Millennials – select items, by region, March 2017
Black Millennials embrace digital trends
Figure 41: Trends that have a positive impact on Millennials – select items, by race, March 2017

SHARING ECONOMY PARTICIPATION
Millennials are key contributors to the sharing economy
In their words
Figure 42: Sharing/gig economy participation, Millennials indexed to average, March 2017
Both younger and older Millennials have learned to share
Figure 43: Millennials’ sharing/gig economy participation – select items, by older and younger Millennials, March 2017
Millennial parents over-index for nearly all services
Figure 44: Millennials’ sharing/gig economy participation – select items, by older and younger Millennials, March 2017
Small family households are key target
Figure 45: Millennials’ sharing/gig economy participation – select items, by number of children in household, March 2017

ADULTING
Parenting is an area of strength for Millennials
Figure 46: Adulting, Millennials indexed to average, March 2017
Young Millennials still gaining confidence
Figure 47: Millennials’ adult behaviors – select items, by younger and older Millennials, March 2017
The confidence curve continues past the age of 40
Figure 48: Adult behaviors – select items, by generation, March 2017
Men and women hold their own against their household chores
Figure 49: Millennials’ adult behaviors – select items, by gender, March 2017
Hispanics exude confidence
Figure 50: Millennials’ adult behaviors – select items, by Hispanic origin, March 2017
Black and White Millennials both highly confident
Figure 51: Millennials’ adult behaviors – select items, by race, March 2017

MILLENNIAL OPTIMISM
Adults feel optimistic about health and happiness
Figure 52: Attitudes about life, by Millennials and all, March 2017
Millennials more optimistic about earning potential
Figure 53: Millennial attitudes about life, March 2017
Education drives optimism across the board
Figure 54: Millennial attitudes about life, by level of education, March 2017
Male Millennials show more overall positivity
Figure 55: Millennial attitudes about life, by gender, March 2017
The key to young optimism is opportunity
Figure 56: Millennial attitudes about life – opportunity and present state, by generation, March 2017

APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Consumer survey data
Consumer qualitative research
Direct marketing creative

APPENDIX – THE MILLENNIAL MARKET
Figure 57: Population, by generation, 2012-22
Figure 58: Milestones of adulthood, 2012
Figure 59: Living arrangements among adults aged 18 to 34: 1975 and 2016
Figure 60: Living arrangements of young adults aged 18-34, 2016
Figure 61: Economic and educational characteristics of young adults aged 25-34, 1975 and 2016
Figure 62: Distribution of generations, by race and Hispanic origin, 2017
Figure 63: Households with own children under age 18, by age of householder, 2016

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