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Everything Marketers Need to Know About Millennials

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Exclusive research on Millennial attitudes on media consumption, travel, financial services, health care, retail and more.

Publicada em: Marketing

Everything Marketers Need to Know About Millennials

  1. 1. Everything Marketers Need to Know About Millennials New data on Millennial attitudes on media consumption, travel, financial services, health care, retail and more By Vision Critical With research by Maru/VCR&C
  2. 2. Known as Generation Y, the Net Generation and the Me Generation, Millennials have been under intense scrutiny from the moment they arrived on the scene. The offspring of the Baby Boomers, Millennials were born between 1980 to 1995, which means...
  3. 3. Today, they fit nearly-perfectly into the demographic most coveted by marketers: 18 to 35 years old. In the United States, they number roughly 80 million.
  4. 4. They currently control more than $600 billion in annual customer spending.
  5. 5. The impact of Millennials on every industry is why Vision Critical, in partnership with the insights consultancy Maru VCR&C, embarked on a project to speak directly to Millennials. The resulting report, is a comprehensive generational portrait, replete with useful, strategic information, to help companies engage Millennials now and in the future. The Everything Guide to Millennials,
  6. 6. Here’s a look at the report’s top findings. DOWNLOAD THE FULL REPORT FOR DETAILS
  7. 7. They’re more optimistic than Gen X and Boomers. My own personal future The future of my children The environment 74% 54% 60% 78% 58% 54% 86% The world economy 36% 32%54% 64% 58% The U.S economy 46% 43%55% Millennials Gen X Boomers We asked: Are you optimistic about the following? 38% OF MILLENNIALS ARE OPTIMISTIC ABOUT THEIR OWN FUTURE
  8. 8. They’re very excited about new tech like Internet of Things, wearables and self-driving cars.
  9. 9. Wearable Technology 28% 12% 7% Self-driving cars 28% 10% 8% Artificial Intelligence 25% 10% 8% Internet of Things 30% 18% 5% We asked: Are you very excited about the following? 30% OF MILLENNIALS ARE EXCITED ABOUT THE INTERNET OF THINGS Millennials Gen X Boomers
  10. 10. We asked: What do you subscribe to? 49%Amazon Prime 35% 25% 40%Hulu 20% 8% 68%Netflix 38% 24% 55%Pandora 35% 14% 62%Cable TV 58% 49% The majority of Millennials get their entertainment on Netflix, Spotify and Youtube. Gen X and Boomers are still loyal to old-school media. 36%Satellite TV 20% 32% Millennials Gen X Boomers 68% OF MILLENNIALS SUBSCRIBE TO NETFLIX; 62% SUBSCRIBE TO CABLE TV
  11. 11. They are expert users of ad-blockers. 75% OF MILLENNIALS THINK ADS ARE DISRUPTIVE Ads are disruptive 75% 68% 69% Actively tune out ads 77% 61% 66% Seek out ads before buying something 53% 42% 35% Appreciate when ads are done well 80% 77% 65% We asked: What do you think of ads? Millennials Gen X Boomers
  12. 12. Millennials are more likely to turn to Google and social media for financial information than Gen X and Boomers. 49% OF MILLENNIALS GET THEIR FINANCIAL INFORMATION FROM BANKS, 48% TURN TO GOOGLE
  13. 13. We asked: When it comes to your finances, where do you get your information from? The bank 49% 33% 38% Google 48% 38% 25% From family and friends 54% 38% 27% Financial advisors, brokers 37% 30% 41% Websites, blogs 35% 25% 20% Millennials Gen X Boomers
  14. 14. Millennials trust the financial industry as much as older generations do.
  15. 15. We asked: How much do you trust financial services companies and financial institutions? Very trusting 24% 12% 10% Somewhat trusting 47% 53% 62% Not very trusting 24% 28% 22% Not at all trusting 5% 7% 6% 71% OF MILLENNIALS ARE “TRUSTING” OR “VERY TRUSTING” OF FINANCIAL SERVICES COMPANIES Millennials Gen X Boomers
  16. 16. Google is Millennials’ first choice for health care and nutrition info.
  17. 17. We asked: When it comes to health and nutrition, where do you get your information? Websites, blogs 44% 30% 17% Google searches 58% 50% 33% Family and friends 47% 37% 32% Doctor, Nurse, Pharmacist 46% 51% 71% 58% OF MILLENNIALS TURN TO GOOGLE SEARCHES FOR HEALTH AND NUTRITION INFORMATION Millennials Gen X Boomers
  18. 18. More Millennials are more likely to take sabbaticals and backpacking trips than older travelers.
  19. 19. We asked: How do you like to travel? 58% 57% 45%City trips 37% 27%45%All inclusives 43% 35%55% Nature/ adventure travel 36% 45%50%Cruises 56% 53%60%“Beachy” vacations 52% 38% 20%Amusement park travel 32% OF MILLENNIALS LIKE TO TAKE SABBATICALS AND LONG VACATIONS Millennials Gen X Boomers 22% 14%32%Sabbaticals/ long vacation
  20. 20. While they’re more likely to use Airbnb and to couchsurf than older generations, mostMillennials actually still prefer hotels.
  21. 21. We asked: Where do you prefer to stay? 3% 1%15% Couchsurfing, couch- swapping Motorhome/ campervan Millennials Gen X Boomers Airbnb 7% ---%24%Airbnb Motels 33% 38% 39% 21% 16%31%Camping 79% 68%83%Hotels 23% 30%41%Vacation rental 37% 45%52%With family & friends 24% OF MILLENNIALS PREFER TO USE AIRBNB WHEN THEY TRAVEL; 83% PREFER HOTELS
  22. 22. They care more about fair trade, organic, sustainable products that Gen X and Boomers do. We asked: Do you closely read the labels on the food you buy or eat? Nutritional Content 80% 79% 79% Ingredient Listing 78% 77% 79% Dietary Restrictions 54% 51% 42% Millennials Gen X Boomers Price & Promotions 89% 87% 82% Fair trade, organic, sustainable 55% 38% 34% Parent company of the product 51% 42% 36% 55% OF MILLENNIALS LOOK FOR FAIR TRADE, ORGANIC OR SUSTAINABLE FOOD
  23. 23. SALARY IS THE NUMBER ONE FACTOR MILLENNIALS LOOK FOR IN A JOB Millennials care about salary as much as Boomers and Gen X do. We asked: When it comes to your ideal job, what matters to you most? Millennials Gen X Boomers 52% 49%54%Salary 36% 39%47%Work–life balance 37% 38%25%Medical Benefits 20% 30%26%Making a difference 35% 29%37%Job security
  24. 24. Compared to older generations, Millennials care more about products that align with their values. 42% OF MILLENNIALS THINK HAVING DESIGNER, LUXURY BRANDS ARE IMPORTANT; 71% WANT PRODUCTS THAT ALIGN WITH THEIR BELIEFS
  25. 25. We asked: How important is it that products are... It’s aligned with my beliefs 71% 66% 68% Designer, luxury brands 42% 27% 14% High quality 93% 90% 97% Functional 94% 93% 99% It looks good 90% 90% 82% It impresses people 44% 27% 11% Not everyone has it 47% 38% 24% It looks expensive 44% 28% 18% Millennials Gen X Boomers
  26. 26. A majority of them plan to vote in the 2016 U.S. election. Yes I will definitely be voting Not sure yet No, I will not be voting 76% 8% 16% We asked: Will you be voting in the upcoming U.S. election? 8% 10% 82% 5% 7% 88% Millennials Gen X Boomers 76% OF MILLENNIALS PLAN TO VOTE IN THE 2016 U.S. ELECTION
  27. 27. Their shifting tastes and preferences can make or break a company — which is why it’s imperative that business leaders continue to build their Millennial expertise. EVERY CHOICE MILLENNIALS MAKE IMPACTS ENTIRE SECTORS OF THE ECONOMY
  28. 28. Learn more DOWNLOAD E-BOOK

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