Table of Contents
Introduction
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- Methodology
- Definitions
- Abbreviations
Executive Summary
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- Savings are a top priority for Millennials
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- Figure 1: Current financial priorities, July 2014
- High quality at the right price
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- Figure 2: Factors important when shopping, July 2014
- Personal influence in a social media world
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- Figure 3: Attitudes towards advertising and shopping, July 2014
- Digital natives prefer reading hard copies of books
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- Figure 4: Attitudes towards digital and physical formats of media, July 2014
- What we think
Issues and Insights
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- Appealing to the ethnic and racial diversity amongst Millennials
- The facts
- The implications
- How to market effectively to Millennials
- The facts
- The implications
Trend Application
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- Trend: Entrepreneurial Spirit
- Trend: Help Me Help Myself
- Trend: Play Ethic
Market Drivers
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- Key points
- Demographic trends
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- Figure 5: Trends in the age structure of the UK population, 2009-19
- Employment status
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- Figure 6: Employment status, by gender and age, July 2014
- Financial health
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- Figure 7: Highest educational attainment, by current financial situation, July 2014
- Living situation
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- Figure 8: Living situation, by age, July 2014
- Race and ethnic background
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- Figure 9: Race and ethnic background, July 2014
- Nationality
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- Figure 10: Nationality, July 2014
- Millennial families
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- Figure 11: Marital status, by presence of children in the household, for Millennials and all adults, April 2014 and July 2014
The Consumer – Personal Financial Priorities
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- Key points
- Reliance on credit cards as a last resort…
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- Figure 12: Current financial priorities, July 2014
- …but credit remains a lifeline for Older Millennial females
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- Figure 13: Current financial priorities, by gender and age, July 2014
- Fewer financial worries for Millennials living at home with parents
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- Figure 14: Current financial priorities, by current living situation, July 2014
The Consumer – Factors Influencing Purchase Decisions
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- Key points
- High quality at the right price
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- Figure 15: Factors important when shopping, July 2014
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- Figure 16: A board in front of Not a Burger Stand restaurant, September 2013
- The appeal of disposable fashion
- Brand loyalty highest in beauty and personal care
- Buying practical things takes over trendy and prestigious products
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- Figure 17: Factors important when shopping, July 2014 (continued)
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- Figure 18: Screenshot of Think Dirty mobile app, June 2014
- Millennial parents keener on environmental factors
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- Figure 19: Factors important when shopping (any responses are shown), by gender and age, July 2014
- Desire to fit in motivates Millennials living in house shares
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- Figure 20: Factors important when shopping (any responses are shown), by current living situation, July 2014
The Consumer – Short- and Long-term Life Goals
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- Key points
- Home ownership is the top aspiration amongst Millennials
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- Figure 21: Future goals, by age, July 2014
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- Figure 22: Career Sushi homepage, September 2014
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- Figure 23: The Kitchen Library website, September 2014
- Younger Millennial females are the most aspirational
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- Figure 24: Number of future goals, by gender and age, July 2014
- Travelling is the most immediate priority for Millennials
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- Figure 25: Planned time for achieving goals, July 2014
The Consumer – Factors Important for Being Successful in Life
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- Key points
- Being healthy is the top way towards accomplishing more in life
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- Figure 26: Factors considered important for a successful life, July 2014
- Fewer than a fifth of Millennials think it’s important to be a good citizen
- Younger Millennials idealistic about their future career
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- Figure 27: Factors considered important for a successful life, by gender and age, July 2014
- Foreign-born Millennials are career-driven
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- Figure 28: Factors considered important for a successful life, by nationality, July 2014
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- Figure 29: Plucked Homepage, September 2014
The Consumer – Attitudes towards Advertising and Shopping
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- Key points
- Bright future for social media commerce
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- Figure 30: Attitudes towards advertising and shopping, July 2014
- Asserting personal influence in a social media world
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- Figure 31: Attitudes towards advertising and shopping, by gender and age, July 2014
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- Figure 32: Selfie-shopping campaign by French Connection, April 2014
- Advertising tactics with appeal to Millennials
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- Figure 33: Still from ‘Experience the power of a BookBook’ advert by IKEA, September 2014
The Consumer – Millennials and Traditional Values
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- Key points
- Four in 10 Millennials are happy with their lives
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- Figure 34: Attitudes towards work and satisfaction with life, by gender and age, July 2014
- Marriage becomes less important when Millennials grow older
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- Figure 35: Selected traditional and non-traditional values, July 2014
- Minority Millennials are more adventurous with their eating habits
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- Figure 36: Attitudes towards eating different types of foods, by ethnicity and nationality, July 2014
- Living the ‘perfect’ life online
- Digital natives still read hard copies of books
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- Figure 37: Attitudes towards digital and physical formats of media, July 2014
- Broadband affordability as a barrier to higher interest in digital music/movies
- Promoting greater responsibility for the environment amongst urban Millennials
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- Figure 38: Selected traditional and non-traditional values, by living area, July 2014
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- Figure 39: BIOMAT Restaurant at Vienna Design Week 2013
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