THE MILLENNIAL GENERATION RULES

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.

Greatest Silent Baby Generation Generation

Millennials
Generation Generation Boomers X 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)

73.5 72.9 73.9

62.6
Population (millions)
Percent of Total

17.1
11.5

4% 6% 24% 20% 23% 24%

Greatest Silent Baby Generation Generation
Millennials
Generation Generation Boomers X Z
Pre - 1933 1933 - 1945 1946 - 1964 1965 - 1979 1980 - 1995 1996 - Present

Source: Census 2012 Estimates

 MILLENNIALS ARE WHERE THE MONEY IS

Millennials’ annual spending today is about

$2.45 trillion.

And by 2018, their projected income will be

about $3.39 trillion, surpassing Baby
Boomers…

Greatest Silent Baby Generation Generation

Millennials
Generation Generation Boomers X Z
Pre - 1933 1933 - 1945 1946 - 1964 1965 - 1979 1980 - 1995 1996 - Present

Source: Oracle, EFMA September 2010

 MILLENNIALS ARE THE LARGEST CONSUMER GROUP

Demographic breakdown MILLENNIAL SHARE PER CATEGORY

of people that …

54
ARE
SMARTPHONE
MILLENNIALS (18-34) % GEN X (35-49)
30 %
50+
16%
USERS

44%
ARE
COMPUTER
USERS
31% 25%

40%
HAVE TRAVELED
DOMESTICALLY
IN PAST YEAR
29% 31%

ARE FAST FOOD

EATERS 45% 30% 25%
VISITED A
SUPERMARKET
THIS MONTH 42% 30% 28%

45%
ARE ALCOHOLIC
BEVERAGE
DRINKERS
31% 24%

45%
VISITED A
SHOPPING MALL
IN PAST MONTH
31% 24%

Source: Oracle, EFMA September 2010

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
CHAPTER 1: WHEN THE GOING GETS TOUGH
MILLENNIALS GET GOING
 COMING OF AGE IN DIRE ECONOMIC TIMES

Unemployment rates in the past few UNEMPLOYMENT RATES

12%
years have been at their highest
since the 1980’s. 10%

8%

And while Millennials are the most 6%

educated generation today, many 4%

Have been facing tough times 2%

in spite of their degrees. 0%

1954 1964 1974 1984 1994 2004 2013

PERCENTAGE OF GENERATION THAT IS ENROLLED

≠
IN OR HAVE GRADUATED FROM COLLEGE

Millennials 50%
Gen X 46% A DEGREE IS NOT A
Baby Boomers 44% GUARANTEE OF A JOB

Source: Bureau of Labor Statistics / Simmons – Fall 2013 – All Adults

 MILLENNIALS ARE STICKING TO FAMILY FOR SUPPORT

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
 FOR HISPANICS SPECIFICALLY, FAMILY IS EVERYTHING

86% of Hispanic Millennials are still living with family.

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.

Source: MTV TR3S

 THE DELAYING OF ADULTHOOD

Living at home has allowed Millennials to % that got Married

postpone big life decisions – like delaying at age 18 to 32, by generation
Marriage until they are economically stable.
Millennials 26%
When it comes to kids, only 42% of grads Gen X 36%
today say they are planning to have Baby Boomers 48%
children, compared to 78% in 2002.

Source: PEW Research Center – Millennials in Adulthood

 BUT MILLENNIALS REMAIN THE MOST OPTIMISTIC !

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.

Baby
% agree Millennials Gen X
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

 HISPANIC MILLENNIALS HAVE AN ESPECIALLY POSITIVE
OUTLOOK

Hispanic GM
Index vs Total Millennials Millennials Millennial

I am an optimist 125 97
You should seize opportunities in life 109 98
I want to get to the top of my career 128 75

Source: Simmons – Fall 2013 – All Adults

 MILLENNIALS PRIORITIZE HAPPINESS AND PASSION

MILLENNIALS (18-34) BOOMERS (50-68)

VALUES THAT ARE STRONGER VALUES THAT ARE STRONGER

FOR MILLENNIALS FOR OLDER GENERATIONS

HAPPINESS PASSION DIVERSITY SHARING DISCOVERY JUSTICE INTEGRITY FAMILY PRACTICALITY DUTY

Source: Iconoculture - Inside the Millennial mind

 MILLENNIALS ARE LESS CONSERVATIVE

Baby
% agree Millennials Gen X
Boomers

“I am politically independent” 50% 39% 37%

“I am religious” 36% 52% 55%

“I am patriotic” 48% 64% 75%

Source: PEW Research Center – Millennials in Adulthood

 AND THEY ARE MORE OPEN MINDED

Baby
% agree Millennials Gen X
Boomers

Support same-sex marriage 68% 55% 48%

Support multi-racial marriages 50% 38% 33%

Support marijuana legalization 69% 53% 52%

Source: PEW Research Center – Millennials in Adulthood

BUT REMEMBER ALL MILLENNIALS ARE NOT
ALL THE SAME!
NAVIGATING THROUGH LIFE’S BIGGEST STAGES
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.

Graduation

Dating First Job Having a baby

 SEGMENTING THE MILLENNIALS
Generally we can group Millennials into at least two characterizations:

Younger Millennials Older Millennials

who are just growing into adulthood. who are establishing their roles in the world.
They are Explorers, looking for new experiences. They are Aspirers, on the path to find success.

Graduation

Having a baby
Dating First Job

18 - 24 year-olds 25 - 34 year-olds
 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
 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
 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.
HAVING THE WORLD IN THE PALM OF THEIR HANDS

80% of Millennials own Smartphones

94% have used their phone to access the Internet
or their email on a typical day
Versus 76% for people 35+

Source: WARC.com, PewInternet

 TECH IS REDEFINING THE RULES OF ENGAGEMENT

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
 SOCIAL MEDIA IS THEIR SIXTH SENSE

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

 THERE IS A NEED TO BE CONNECTED AT ALL TIMES

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 send and receive an average

of 88 texts a day

% Of Millennials who check their phones…

54% 51% 36% 32%

LAYING WHILE USING DURING A MEAL CHECK WHILE
IN BED THE BATHROOM WITH OTHERS DRIVING

Source: Huffington Post- Americans Addicted to Checking Smartphones

PEW Research Center – Millennials in Adulthood
 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%

Source: Barkley Research, BusinessNewsDaily.com / Univision, Decoding Y: Millennials Revealed

 MILLENNIALS MANAGE THEIR NETWORKS LIKE A BRAND

THEY ARE OBSSESED WITH PERCEPTION

HOW MANY FOLLOWERS DO I HAVE? DO PEOPLE THINK I AM COOL?

Median number of Facebook friends % saying they have shared a selfie

Millennials 250 Millennials 55%

Gen X 200 Gen X 24%
Baby Boomers 98 Baby Boomers 9%

Source: PEW Research Center – Millennials in Adulthood

 SOCIETY HAS MOVED FROM
“15 MINUTES OF FAME” TO
“BROADCAST YOURSELF”

60% Have uploaded content to the web

28% Have their own website

26% Have their own blog

Source: eMarketer
 RISE OF ONLINE VIDEO & DECLINE OF TV

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

 HISPANIC MILLENNIALS ARE EVEN MORE DIGTIALLY NATIVE

TELEVISION COMPUTER RADIO VIDEO GAMES SMARTPHONES MAGAZINES NEWSPAPERS

29.13 24.35 11.92 6.02 5.63 1.8 1.7

Digital Outlets surpass traditional TV 36hrs

Hispanic Millennials’ Weekly Media Usage (Hours)

THEY ARE ESPECIALLY IN THE LOOP WITH MOBILE AND SOCIAL

77% Own Smartphones 80% use Social Media

Source: MEDIA SCAN - MultiMedia Usage - SPRING 2013

SO HOW SHOULD A MARKETER
NAVIGATE THIS NEW GENERATION?
1. DO NOT OVER-SIMPLIFY THE GENERATION
Millennials are not a homogeneous group. Identify core
segments and understand their lifestages.

2. EMBRACE DIVERSITY
Be sensitive to themes of multiculturalism and Millennials’
cross-cultural values.

3. BE PARTICIPATORY
Millennials are content creators and want to be heard. Engage
them in a manner that will encourage them to get involved.

4. DO NOT CUT CORNERS ON EXPERIENCE

Millennials seek novelty and excitement. Deliver experiences
that makes them think they aren’t losing out.

5. LEVERAGE TECHNOLOGY
Take advantage of the core strength of each channel to engage
with Millennials. Think multi-channel.