Marketing to Millennials - US - February 2015


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Mintel

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Millennials will continue to play an increasingly important role in the workplace and the economy. In order to effectively target Millennials, brands must understand how they see themselves (and their generation overall), how they are rethinking traditional adulthood milestones, and how to market to Millennials without alienating older generations.
Table of Content

Scope and Themes

What you need to know
Definition
Data sources
Consumer survey data
Consumer qualitative research
Abbreviations and terms
Abbreviations
Terms

Executive Summary

Snapshot of Millennials
Figure 1: US population, by generation share, 2015
Marketing to the Millennial mindset
The Millennial consumer
Millennials may be priced out but not left out
Figure 2: Responsibility for living expenses, December 2014
Millennials see themselves as responsible, hardworking, family-oriented, independent
Figure 3: Correspondence Analysis – how Millennials see themselves, other Millennials, and how they think older generations see them, December 2014
Millennials more focused on personal rather than professional goals
Figure 4: Personal and career goals, December 2014
Affordability is important, but Millennials are willing to pay for quality
Figure 5: Appealing brand qualities, December 2014
Millennials like to think they’re immune to advertising – but appreciate humor
Figure 6: Attitudes toward advertising – Any agree, December 2014
Millennials may need to be nudged to write reviews
Figure 7: Interactions with companies and brands - Reviews, December 2014
Figure 8: Interactions with companies and brands – Social media, December 2014
What we think

Issues and Insights

Realty check: Millennials’ self-perceptions differ from stereotypes
The issues
The implications
Failure to launch? Millennials put off many of the hallmarks of adulthood
The issues
The implications
The golden child: Marketing only to Millennials may alienate others
The issues
The implications

Trend Application

Trend: Giving Back
Trend: Life Hacking
Figure 9: The Atlantic, If Our Bodies Could Talk, “Single-tasking Is the New Multitasking,” 2014
Trend: Entrepreneurial Spirit

Millennials by the Numbers

Key points
Millennials account for one quarter of the US population
Figure 10: US population, by generation share, 2015
Millennial population is growing
Figure 11: US population, by generation, 2010-20

Demographic Characteristics of Millennials

Key points
Race/Hispanic origin
Figure 12: Share of US population by generation, by race/Hispanic origin, 2015
Living with parents
Figure 13: Millennials living at home with parents, by age, gender, education, employment status, 2012
Marital status
Figure 14: Marital status, by age/generation, 2013
Among Millennials, women are more likely than men to be married
Figure 15: Marital status of Millennials, by gender, 2013
Four in 10 households headed by Millennials contain children younger than 18
Figure 16: Households with own children, by generation of householder, 2013
Median household income
Figure 17: Median household income, by age/generation of householder, 2013
Unemployment
Figure 18: Employment status of civilian labor force by age (not seasonally adjusted), December 2014
Educational attainment
Figure 19: Educational attainment, by age/generation among those aged 25+, 2014

Innovations and Innovators

Love thy-selfie
Ricoh launches Selfie Camera
Figure 20: “Say hello to the Ricoh Theta,” online video, 2014
3D Systems launches 3DMe on Cubify
Figure 21: “Get into character,” online video, 2014
Selfie-sticks become more prevalent
The hotel industry preps for the age of the Millennial traveller
Marriott opens AC Hotel Bourbon in New Orleans
Figure 22: “Creating the healthy vending machine,” online video, 2014
Hilton announced Canopy
Virgin opens first hotel in Chicago
Figure 23: “Virgin Hotels/Brilliant,” online video, 2014
Figure 24: “Shake things up with Virgin Hotels Chicago,” online video, 2014
Customization
Adidas launches one-of-a-kind sneakers
Figure 25: “Design tips,” online video, 2014
Uber, Spotify partner on music service
Figure 26: “Spotify your ride,” online video, 2014
Tech innovations
Ringly uses wearable tech to make a fashion statement
Figure 27: Ringly promotional video, 2014
Polaroid launches Zip

Marketing Strategies

Marketing and the Millennial mindset
Figure 28: FIRST KISS, 2014
Campaign case studies
Get Covered Illinois uses sarcasm to gain Millennials’ attention
Figure 29: Get Covered Illinois, “Luck Health Plan: You'll be okay. Probably,” November 2014
Figure 30: Get Covered Illinois, “Luck Health Plan: Meet Joel,” online video, December 2014
Figure 31: The Onion and Get Covered Illinois, “Get Covered Illinois - Health Hacks (Ep. 2),” online video, January 2015
Coca Cola campaign encourages Millennials to ‘Share a Coke’
Figure 32: Coca-Cola, “Share a Coke This Summer (Official :30),” June 2014
Taco Bell hosts second annual ‘Friendsgiving’
Figure 33: Taco Bell, “How to Throw Friendsgiving Dinner | 2014 Taco Bell®,” online video, November 2014
Figure 34: POPSUGAR, “Fancy Friendsgiving Menu Includes Taco Bell In Every Dish | Eating Out,” online video, November 2014
Figure 35: Food Beast, “How to Throw the Best Friendsgiving Ever,” online video, November 2014
Lena Dunham gets political for ‘Not That Kind of Girl’ tour
Figure 36: Lena Dunham, “ASK LENA #2: Plus size,” online video, September 2014

Living Situation and Expenses

Key points
Is the ‘boomerang effect’ overstated? – Majority of Millennials do not live at home
Figure 37: Living situation, December 2014
Figure 38: Responsibility for living expenses, December 2014
Younger Millennials predictably more likely to rely on parents’ support
Figure 39: Living situation, by younger and older Millennials, December 2014
Figure 40: Responsibility for living expenses, by younger and older Millennials, December 2014

Millennial Perceptions

Key points
Millennial self-perceptions suggest stereotypes may not hold water
Millennials see themselves as responsible, hardworking, family-oriented, independent
Figure 41: How Millennials see themselves, December 2014
Young Millennials’ self-perceptions fall more in line with Millennial stereotypes
Figure 42: How Millennials see themselves, by younger and older Millennials, December 2014
Parenthood changes Millennials’ self-perceptions
Figure 43: How Millennials see themselves, by parental status, December 2014
Millennials less complimentary of their generation as a whole
Figure 44: How Millennials see themselves versus how Millennials see other Millennials, December 2014
Millennials feel like the generational black sheep
Figure 45: “We Suck and We're Sorry,” parody video, 2013
Figure 46: How Millennials see themselves versus how older generations see Millennials (according to Millennials), December 2014
Correspondence analysis
Methodology
Millennials may be showing their “uniqueness” – see themselves differently from other Millennials
Figure 47: Correspondence Analysis, December 2014
Figure 48: Millennial perceptions, December 2014

Appealing Brand Qualities

Key points
Affordability is important, but Millennials are willing to pay for quality
Figure 49: Appealing brand qualities, December 2014
Figure 50: “Woo Woo?” advertisement, 2014
Figure 51: Social media use, by generation, August 2013-September 2014
Figure 52: Attitudes toward social media as a purchase influencer – Any agree, by generation, August 2013-September 2014
Not all Young Millennials are hindered by their income/lifestage
Figure 53: Appealing brand qualities, by younger and older Millennials, December 2014
Millennial parents’ purchases subject to more influences
Figure 54: Appealing brand qualities, by parental status, December 2014

Attitudes toward Shopping and Advertising

Key points
Resourceful shoppers who are difficult to please
Figure 55: Attitudes toward shopping, December 2014
Figure 56: Participation in retailer loyalty programs (mean), by generation, May 2014
Millennials like to think they’re not susceptible to advertising – but appreciate humor
Figure 57: Attitudes toward advertising, December 2014
Targeting Millennials using humor in ads
Figure 58: Dodge TV advertisement, “It’s Perfect For Sax,” 2013
Figure 59: Strongbow TV advertisement, “Slow Motion Horse,” 2014
And the opposite – “sadvertising”
Figure 60: P&G TV advertisement, “Thank you, Mom – Tough Love,” 2014
Figure 61: Budweiser TV advertisement, “Lost Dog,” 2015
Figure 62: Skype TV advertisement, “The Born Friends Family Portrait,” 2013
Targeting high net worth Millennials
Figure 63: Attitudes toward shopping and advertising – Any agree, by household income, December 2014
Targeting Millennial parents
Figure 64: A Cup of Joe, sponsored blog post, 2015
Figure 65: Attitudes toward shopping and advertising – Any agree, by parental status, December 2014

Millennials Online

Key points
Millennials’ top online activities task-oriented
Figure 66: Online activities, December 2014
Figure 67: Attitudes toward the internet – Any agree, by generation, August 2013-September 2014
The internet is an indispensable tool for modern parents
Figure 68: Online activities, by parental status, December 2014

Interactions with Companies and Brands

Key points
Millennials may need to be nudged to write reviews
Figure 69: Interactions with companies and brands, December 2014
Parents engage more with brands
Figure 70: Interactions with companies and brands, by parental status, December 2014

Goals and Aspirations

Key points
Millennials more focused on personal rather than professional goals
Figure 71: Personal and career goals, December 2014
Goals of Younger and Older Millennials are surprisingly similar
Figure 72: Personal and career goals, by younger and older Millennials, December 2014
Parents have more goals
Figure 73: Personal and career goals, by parental status, December 2014

Financial Priorities

Key points
Millennials focused on making ends meet
Figure 74: Financial priorities for upcoming year, December 2014
Figure 75: Financial priorities for upcoming year, by younger and older Millennials, December 2014

Race and Hispanic Origin

Black Millennials
What you need to know
Cultural connection
Appealing brand qualities and brand interactions
Black Millennials’ self-perceptions
Hispanic Millennials
What you need to know
Hispanic Millennials are Hispanic first, Millennials second
Hispanic Millennials look for quality and affordability
Hispanic Millennials’ self-perceptions

Appendix – Other Useful Consumer Tables

Living situation and expenses
Living situation
Figure 76: Living situation, December 2014
Figure 77: Living situation, by gender, December 2014
Figure 78: Living situation, by area, December 2014
Figure 79: Living situation, by household income, December 2014
Figure 80: Living situation, by employment status, December 2014
Figure 81: Living situation, by education, December 2014
Figure 82: Living situation (netted), December 2014
Living expenses
Figure 83: Responsibility for living expenses, December 2014
Figure 84: Responsibility for living expenses, by gender, December 2014
Figure 85: Responsibility for living expenses, by area, December 2014
Figure 86: Responsibility for living expenses, by household income, December 2014
Figure 87: Responsibility for living expenses, by employment status, December 2014
Figure 88: Responsibility for living expenses, by education, December 2014
Figure 89: Responsibility for living expenses, by parental status, December 2014
Figure 90: Responsibility for living expenses (netted), by demographics, December 2014
Millennial perceptions
How Millennials see themselves
Figure 91: How Millennials see themselves, December 2014
Figure 92: How Millennials see themselves, by gender, December 2014
Figure 93: How Millennials see themselves, by gender and age, December 2014
Figure 94: How Millennials see themselves, by area, December 2014
Figure 95: How Millennials see themselves, by household income, December 2014
Figure 96: How Millennials see themselves, by employment status, December 2014
Figure 97: How Millennials see themselves, by marital status, December 2014
Figure 98: How Millennials see themselves, by parental status by gender, December 2014
How Millennials see other Millennials
Figure 99: How Millennials see other Millennials, by gender, December 2014
Figure 100: How Millennials see other Millennials, by younger and older Millennials, December 2014
Figure 101: How Millennials see other Millennials, by gender and age, December 2014
Figure 102: How Millennials see other Millennials, by area, December 2014
Figure 103: How Millennials see other Millennials, by household income, December 2014
Figure 104: How Millennials see other Millennials, by employment status, December 2014
Figure 105: How Millennials see other Millennials, by marital status, December 2014
Figure 106: How Millennials see other Millennials, by parental status, December 2014
Figure 107: How Millennials see other Millennials, by parental status by gender, December 2014
How older generations see Millennials (according to Millennials)
Figure 108: How older generations see Millennials (according to Millennials), by gender, December 2014
Figure 109: How older generations see Millennials (according to Millennials), by younger and older Millennials, December 2014
Figure 110: How older generations see Millennials (according to Millennials), by gender and age, December 2014
Figure 111: How older generations see Millennials (according to Millennials), by area, December 2014
Figure 112: How older generations see Millennials (according to Millennials), by household income, December 2014
Figure 113: How older generations see Millennials (according to Millennials), by employment status, December 2014
Figure 114: How older generations see Millennials (according to Millennials), by marital status, December 2014
Figure 115: How older generations see Millennials (according to Millennials), by parental status, December 2014
Figure 116: How older generations see Millennials (according to Millennials), by parental status by gender, December 2014
Appealing brand qualities
Figure 117: Appealing brand qualities, December 2014
Figure 118: Appealing brand qualities, by gender, December 2014
Figure 119: Appealing brand qualities, by gender and age, December 2014
Figure 120: Appealing brand qualities, by area, December 2014
Figure 121: Appealing brand qualities, by household income, December 2014
Figure 122: Appealing brand qualities, by parental status by gender, December 2014
Attitudes toward shopping and advertising
Figure 123: Attitudes toward shopping and advertising, December 2014
Figure 124: Attitudes toward shopping and advertising, December 2014
Attitudes toward shopping
Figure 125: Attitudes toward shopping – Any agree, by gender, December 2014
Figure 126: Attitudes toward shopping – Any agree, by younger and older Millennials, December 2014
Figure 127: Attitudes toward shopping – Any agree, by gender and age, December 2014
Figure 128: Attitudes toward shopping – Any agree, by area, December 2014
Figure 129: Attitudes toward shopping – Any agree, by employment status, December 2014
Figure 130: Attitudes toward shopping – Any agree, by parental status by gender, December 2014
Figure 131: Attitudes toward shopping – Any agree, by gender and income, December 2014
Figure 132: Attitudes toward shopping – Any agree, by age and income, December 2014
Attitudes toward advertising
Figure 133: Attitudes toward advertising – Any agree, by gender, December 2014
Figure 134: Attitudes toward advertising – Any agree, by younger and older Millennials, December 2014
Figure 135: Attitudes toward advertising – Any agree, by gender and age, December 2014
Figure 136: Attitudes toward advertising – Any agree, by area, December 2014
Figure 137: Attitudes toward advertising – Any agree, by employment status, December 2014
Figure 138: Attitudes toward advertising – Any agree, by parental status by gender, December 2014
Figure 139: Attitudes toward advertising – Any agree, by gender and income, December 2014
Figure 140: Attitudes toward advertising – Any agree, by age and income, December 2014
Millennials online
Figure 141: Online activities, December 2014
Figure 142: Online activities, by gender, December 2014
Figure 143: Online activities, by younger and older Millennials, December 2014
Figure 144: Online activities, by area, December 2014
Figure 145: Online activities, by household income, December 2014
Figure 146: Online activities, by employment status, December 2014
Figure 147: Online activities, by parental status by gender, December 2014
Interactions with companies and brands
Figure 148: Interactions with companies and brands, December 2014
Figure 149: Interactions with companies and brands, by gender, December 2014
Figure 150: Interactions with companies and brands, by younger and older Millennials, December 2014
Figure 151: Interactions with companies and brands, by area, December 2014
Figure 152: Interactions with companies and brands, by household income, December 2014
Figure 153: Interactions with companies and brands, by employment status, December 2014
Figure 154: Interactions with companies and brands, by marital status, December 2014
Figure 155: Interactions with companies and brands, by parental status by gender, December 2014
Figure 156: Interactions with companies and brands (netted), by parental status, December 2014
Figure 157: Interactions with companies and brands (netted), by parental status by gender, December 2014
Goals and aspirations
Figure 158: Goals and aspirations, December 2014
Figure 159: Personal goals, by gender, December 2014
Figure 160: Personal goals, by area, December 2014
Figure 161: Personal goals, by household income, December 2014
Figure 162: Personal goals, by parental status by gender, December 2014
Figure 163: Career goals, by gender, December 2014
Figure 164: Career goals, by area, December 2014
Figure 165: Career goals, by household income, December 2014
Figure 166: Career goals, by parental status by gender, December 2014
Financial priorities
Figure 167: Financial priorities for upcoming year, by gender, December 2014
Figure 168: Financial priorities for upcoming year, by household income, December 2014
Figure 169: Financial priorities for upcoming year, by parental status, December 2014
Figure 170: Financial priorities for upcoming year, by parental status by gender, December 2014

Appendix – Trade Associations

American Advertising Federation (AAF)1
American Association of Advertising Agencies (4A’s)
American Marketing Association (AMA)
Association of National Advertisers (ANA)
Digital Media Association (DiMA)
Generations United
Interactive Advertising Bureau (IAB)
International Advertising Association (IAA)
World Federation of Advertisers (WFA)