Introduction

The notion of millennials refers to an age group of people who were born between the late 1980’s
and the early 1990’s. While the exact dates differ according to different sources, the notion that
individuals born around this time have heterogeneous characteristics which are distinct has been
popularised within the literature (Handley, 2013). Within academia, there has been extensive
research which has aimed to understand the consumer behaviour of millennials, in order to develop
a marketing approach that they are receptive to targets their specific needs and requirements. This
report is going to utilise a range of academic and industry sources, in order to identify the key factors
which, influence millennial personality traits, and the key contemporary trends impacting consumers
in this demographic.

Figure 1: Generational Age Ranges Defined (Pew Research, 2019).

Overview of Millennials
In order to understand contemporary trends which are influencing millennials in the 2020’s, it is
important to provide context on the unique factors which have shaped this demographic (Reardon,
2016). According to Rearden (2016), one of the most prominent factors that shapes the
heterogenous needs and characteristics of millennials is the pervasive impact of the internet across
society, which became the most prominent facet of society as millennials were growing up. Rearden
(2016) argue that millennials were the first generation to rely on the internet as a key part of
everyday life, which has manifested itself in a modern-day reliance on internet connected devices
amongst this demographic. The ubiquitous nature of the internet across society has meant that
consumer purchasing habits have changed significantly, with e-commerce the most prominent form
of shopping and therefore, digital marketing techniques have been forced to evolve and develop
considerably. Ensuring that a brand has a diverse value proposition that satisfies all the needs, both
digital and physical, is important when targeting millennials (Rearden, 2016).

As a consequence of the proliferation of internet connected devices across society now, one of the
most prominent factors which influences consumer behaviour amongst millennials is social media
(Ritson, 2015). Social media has evolved from forums and message boards to content, photo sharing
and video sharing websites which shape brand perceptions and heavily influence consumer
behaviour amongst millennials. The growth of influencer culture has augmented traditional digital
marketing methods by utilising the reach that these individuals have on the most popular social
media platforms (Ritson, 2015).

The final prominent factor identified by Schawbel (2015) that has shaped the purchase behaviours of
millennials is globalisation, which has been a prominent feature of society throughout the lives of
millennials, which has resulted in more liberal mindsets, increased travel and an international
outlook on consumption behaviour.

Contemporary Influences
Having outlined the core contextual factors which influence the characteristics of millennials by
drawing on academic literature, this section of the essay will utilise contemporary reports, industry
analysis and consumer material to understand the most pressing influences and factors impacting
this consumer group.

Firstly, a Mintel report into the consumption behaviour of millennials identified that most prevalent
influence on consumer purchase behaviour amongst this demographic was social media. As alluded
to above, social media has become ubiquitous amongst this demographic and a Mintel report (2020)
outlined that social media was the single greatest influence on millennials purchasing behaviour. The
Mintel report (2020) which utilised focus groups of millennials in their study outlined factors such as
influencer culture and independent product reviews as critical buying prompts for millennials, as this
mode of informal word of mouth marketing is something which resonates greatly with this
generation. As well as the impact of marketing type communications around brands, Handley (2018)
also argue that self-identity and perception on social media has become a key motivator for
millennials purchase habits. The ability to curate an online identity through social media sites has
resulted in millennials utilising the platform for self-promotion, which often manifests itself in
indulgent purchase decisions which are driven by the desire to improve their self-identity and
external social perception (Handley, 2018). Therefore, when targeting millennials, it is imperative
that social media is at the centre of any branding strategy, to both inform brand decisions and
disseminate brand material.

Alongside materialistic tendencies which drive millennials on the internet, the value of the platform
for information spreading has also become a critical trend amongst millennials. The proliferation of
information sharing amongst millennials has ensured that factors such as social justice and
environmental concerns have become a prominent trend amongst this demographic (Dimock, 2019).
In a globalised consumer centric developed world, millennials have expressed greater interest than
previous age demographics in fighting for social equality and addressing climate concerns. While Rue
(2018) note that Gen Z are now the primary proponents of environmental change, it remains a
prominent feature of society amongst millennials. Therefore, when attempting to understand and
target millennials, it is critical to understand the social issues which are most important to this
demographic and ensure that the values of a brand are aligned (Rue, 2018).

The final factor to consider with the millennial demographic is the importance of internationalisation
and a globalised society. It is clear from the Brexit referendum that took place in 2016 that the
mindset of millennials is very much outward facing and liberal, which is in contrast to older
demographics (Fisher, 2018). The vote indicated that the vast majority of millennials saw the value
of factors such as freedom of movement and this is indicative of a demographic that value
international travel and the benefits of globalisation, as they have grown up in this environment.
Fisher (2018) argue that this mindset plays a critical role in shaping trends within this demographic,
as it ensures that consumers are more receptive to culturally diverse international brands,
augmenting the potential scope of marketing outreach for brands.

Conclusion
In conclusion, it is clear from the analysis that millennials are a unique demographic heavily
influences by the evolving external environment that they have grown up in. As the first generation
of the digital age, factors such as the internet and social media have become defining beacons of a
millennials identity and therefore, it is important for brands to consider this when concentrating on
this demographic. When focusing on the more specific issues and trends that are impacting
millennials currently, it is clear that factors such as self-identity are a prominent feature of millennial
consumer behaviour, while a more liberal and socially conscious mindset permeates across the
demographic and is therefore a big consideration.

References
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Dimock, M., 2019. Defining generations: Where Millennials end and Generation Z begins. Pew
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Fisher, P., 2018. A Political outlier: the distinct politics of the millennial generation. Society, 55(1),
pp.35-40.

Handley, L. (2016) Marketing to Millennials, CNBC. CNBC. Available at:

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