Table of Contents
Executive Summary
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- Snapshot of Millennials
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- 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
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- Figure 2: Responsibility for living expenses, December 2014
- Millennials see themselves as responsible, hardworking, family-oriented, independent
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- 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
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- Figure 4: Personal and career goals, December 2014
- Affordability is important, but Millennials are willing to pay for quality
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- Figure 5: Appealing brand qualities, December 2014
- Millennials like to think they’re immune to advertising – but appreciate humor
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- Figure 6: Attitudes toward advertising – Any agree, December 2014
- Millennials may need to be nudged to write reviews
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- Figure 7: Interactions with companies and brands - Reviews, December 2014
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- Figure 8: Interactions with companies and brands – Social media, December 2014
- What we think
Issues and Insights
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- 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
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- Trend: Giving Back
- Trend: Life Hacking
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- Figure 9: The Atlantic, If Our Bodies Could Talk, “Single-tasking Is the New Multitasking,” 2014
- Trend: Entrepreneurial Spirit
Millennials by the Numbers
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- Key points
- Millennials account for one quarter of the US population
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- Figure 10: US population, by generation share, 2015
- Millennial population is growing
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- Figure 11: US population, by generation, 2010-20
Demographic Characteristics of Millennials
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- Key points
- Race/Hispanic origin
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- Figure 12: Share of US population by generation, by race/Hispanic origin, 2015
- Living with parents
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- Figure 13: Millennials living at home with parents, by age, gender, education, employment status, 2012
- Marital status
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- Figure 14: Marital status, by age/generation, 2013
- Among Millennials, women are more likely than men to be married
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- Figure 15: Marital status of Millennials, by gender, 2013
- Four in 10 households headed by Millennials contain children younger than 18
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- Figure 16: Households with own children, by generation of householder, 2013
- Median household income
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- Figure 17: Median household income, by age/generation of householder, 2013
- Unemployment
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- Figure 18: Employment status of civilian labor force by age (not seasonally adjusted), December 2014
- Educational attainment
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- Figure 19: Educational attainment, by age/generation among those aged 25+, 2014
Innovations and Innovators
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- Love thy-selfie
- Ricoh launches Selfie Camera
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- Figure 20: “Say hello to the Ricoh Theta,” online video, 2014
- 3D Systems launches 3DMe on Cubify
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- 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
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- Figure 22: “Creating the healthy vending machine,” online video, 2014
- Hilton announced Canopy
- Virgin opens first hotel in Chicago
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- 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
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- Figure 25: “Design tips,” online video, 2014
- Uber, Spotify partner on music service
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- Figure 26: “Spotify your ride,” online video, 2014
- Tech innovations
- Ringly uses wearable tech to make a fashion statement
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- Figure 27: Ringly promotional video, 2014
- Polaroid launches Zip
Marketing Strategies
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- Marketing and the Millennial mindset
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- Figure 28: FIRST KISS, 2014
- Campaign case studies
- Get Covered Illinois uses sarcasm to gain Millennials’ attention
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- 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
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- 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’
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- Figure 32: Coca-Cola, “Share a Coke This Summer (Official :30),” June 2014
- Taco Bell hosts second annual ‘Friendsgiving’
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- 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
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- 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
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- Figure 36: Lena Dunham, “ASK LENA #2: Plus size,” online video, September 2014
Living Situation and Expenses
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- Key points
- Is the ‘boomerang effect’ overstated? – Majority of Millennials do not live at home
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- Figure 37: Living situation, December 2014
- Figure 38: Responsibility for living expenses, December 2014
- Younger Millennials predictably more likely to rely on parents’ support
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- 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
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- Key points
- Millennial self-perceptions suggest stereotypes may not hold water
- Millennials see themselves as responsible, hardworking, family-oriented, independent
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- Figure 41: How Millennials see themselves, December 2014
- Young Millennials’ self-perceptions fall more in line with Millennial stereotypes
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- Figure 42: How Millennials see themselves, by younger and older Millennials, December 2014
- Parenthood changes Millennials’ self-perceptions
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- Figure 43: How Millennials see themselves, by parental status, December 2014
- Millennials less complimentary of their generation as a whole
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- Figure 44: How Millennials see themselves versus how Millennials see other Millennials, December 2014
- Millennials feel like the generational black sheep
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- Figure 45: “We Suck and We're Sorry,” parody video, 2013
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- 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
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- Figure 47: Correspondence Analysis, December 2014
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- Figure 48: Millennial perceptions, December 2014
Appealing Brand Qualities
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- Key points
- Affordability is important, but Millennials are willing to pay for quality
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- Figure 49: Appealing brand qualities, December 2014
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- Figure 50: “Woo Woo?” advertisement, 2014
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- Figure 51: Social media use, by generation, August 2013-September 2014
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- 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
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- Figure 53: Appealing brand qualities, by younger and older Millennials, December 2014
- Millennial parents’ purchases subject to more influences
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- Figure 54: Appealing brand qualities, by parental status, December 2014
Attitudes toward Shopping and Advertising
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- Key points
- Resourceful shoppers who are difficult to please
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- 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
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- Figure 57: Attitudes toward advertising, December 2014
- Targeting Millennials using humor in ads
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- Figure 58: Dodge TV advertisement, “It’s Perfect For Sax,” 2013
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- Figure 59: Strongbow TV advertisement, “Slow Motion Horse,” 2014
- And the opposite – “sadvertising”
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- Figure 60: P&G TV advertisement, “Thank you, Mom – Tough Love,” 2014
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- Figure 61: Budweiser TV advertisement, “Lost Dog,” 2015
- Figure 62: Skype TV advertisement, “The Born Friends Family Portrait,” 2013
- Targeting high net worth Millennials
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- Figure 63: Attitudes toward shopping and advertising – Any agree, by household income, December 2014
- Targeting Millennial parents
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- 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
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- Key points
- Millennials’ top online activities task-oriented
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- Figure 66: Online activities, December 2014
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- Figure 67: Attitudes toward the internet – Any agree, by generation, August 2013-September 2014
- The internet is an indispensable tool for modern parents
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- Figure 68: Online activities, by parental status, December 2014
Interactions with Companies and Brands
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- Key points
- Millennials may need to be nudged to write reviews
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- Figure 69: Interactions with companies and brands, December 2014
- Parents engage more with brands
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- Figure 70: Interactions with companies and brands, by parental status, December 2014
Goals and Aspirations
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- Key points
- Millennials more focused on personal rather than professional goals
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- Figure 71: Personal and career goals, December 2014
- Goals of Younger and Older Millennials are surprisingly similar
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- Figure 72: Personal and career goals, by younger and older Millennials, December 2014
- Parents have more goals
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- Figure 73: Personal and career goals, by parental status, December 2014
Financial Priorities
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- Key points
- Millennials focused on making ends meet
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- 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
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- 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
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- Living situation and expenses
- Living situation
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- Figure 76: Living situation, December 2014
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- Figure 77: Living situation, by gender, December 2014
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- Figure 78: Living situation, by area, December 2014
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- Figure 79: Living situation, by household income, December 2014
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- Figure 80: Living situation, by employment status, December 2014
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- Figure 81: Living situation, by education, December 2014
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- Figure 82: Living situation (netted), December 2014
- Living expenses
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- Figure 83: Responsibility for living expenses, December 2014
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- Figure 84: Responsibility for living expenses, by gender, December 2014
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- Figure 85: Responsibility for living expenses, by area, December 2014
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- Figure 86: Responsibility for living expenses, by household income, December 2014
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- Figure 87: Responsibility for living expenses, by employment status, December 2014
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- Figure 88: Responsibility for living expenses, by education, December 2014
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- Figure 89: Responsibility for living expenses, by parental status, December 2014
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- Figure 90: Responsibility for living expenses (netted), by demographics, December 2014
- Millennial perceptions
- How Millennials see themselves
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- Figure 91: How Millennials see themselves, December 2014
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- Figure 92: How Millennials see themselves, by gender, December 2014
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- Figure 93: How Millennials see themselves, by gender and age, December 2014
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- Figure 94: How Millennials see themselves, by area, December 2014
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- Figure 95: How Millennials see themselves, by household income, December 2014
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- Figure 96: How Millennials see themselves, by employment status, December 2014
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- Figure 97: How Millennials see themselves, by marital status, December 2014
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- Figure 98: How Millennials see themselves, by parental status by gender, December 2014
- How Millennials see other Millennials
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- Figure 99: How Millennials see other Millennials, by gender, December 2014
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- Figure 100: How Millennials see other Millennials, by younger and older Millennials, December 2014
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- Figure 101: How Millennials see other Millennials, by gender and age, December 2014
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- Figure 102: How Millennials see other Millennials, by area, December 2014
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- Figure 103: How Millennials see other Millennials, by household income, December 2014
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- Figure 104: How Millennials see other Millennials, by employment status, December 2014
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- Figure 105: How Millennials see other Millennials, by marital status, December 2014
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- Figure 106: How Millennials see other Millennials, by parental status, December 2014
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- Figure 107: How Millennials see other Millennials, by parental status by gender, December 2014
- How older generations see Millennials (according to Millennials)
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- Figure 108: How older generations see Millennials (according to Millennials), by gender, December 2014
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- Figure 109: How older generations see Millennials (according to Millennials), by younger and older Millennials, December 2014
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- Figure 110: How older generations see Millennials (according to Millennials), by gender and age, December 2014
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- Figure 111: How older generations see Millennials (according to Millennials), by area, December 2014
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- Figure 112: How older generations see Millennials (according to Millennials), by household income, December 2014
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- Figure 113: How older generations see Millennials (according to Millennials), by employment status, December 2014
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- Figure 114: How older generations see Millennials (according to Millennials), by marital status, December 2014
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- Figure 115: How older generations see Millennials (according to Millennials), by parental status, December 2014
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- Figure 116: How older generations see Millennials (according to Millennials), by parental status by gender, December 2014
- Appealing brand qualities
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- Figure 117: Appealing brand qualities, December 2014
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- Figure 118: Appealing brand qualities, by gender, December 2014
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- Figure 119: Appealing brand qualities, by gender and age, December 2014
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- Figure 120: Appealing brand qualities, by area, December 2014
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- Figure 121: Appealing brand qualities, by household income, December 2014
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- Figure 122: Appealing brand qualities, by parental status by gender, December 2014
- Attitudes toward shopping and advertising
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- Figure 123: Attitudes toward shopping and advertising, December 2014
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- Figure 124: Attitudes toward shopping and advertising, December 2014
- Attitudes toward shopping
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- Figure 125: Attitudes toward shopping – Any agree, by gender, December 2014
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- Figure 126: Attitudes toward shopping – Any agree, by younger and older Millennials, December 2014
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- Figure 127: Attitudes toward shopping – Any agree, by gender and age, December 2014
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- Figure 128: Attitudes toward shopping – Any agree, by area, December 2014
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- Figure 129: Attitudes toward shopping – Any agree, by employment status, December 2014
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- Figure 130: Attitudes toward shopping – Any agree, by parental status by gender, December 2014
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- Figure 131: Attitudes toward shopping – Any agree, by gender and income, December 2014
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- Figure 132: Attitudes toward shopping – Any agree, by age and income, December 2014
- Attitudes toward advertising
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- Figure 133: Attitudes toward advertising – Any agree, by gender, December 2014
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- Figure 134: Attitudes toward advertising – Any agree, by younger and older Millennials, December 2014
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- Figure 135: Attitudes toward advertising – Any agree, by gender and age, December 2014
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- Figure 136: Attitudes toward advertising – Any agree, by area, December 2014
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- Figure 137: Attitudes toward advertising – Any agree, by employment status, December 2014
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- Figure 138: Attitudes toward advertising – Any agree, by parental status by gender, December 2014
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- Figure 139: Attitudes toward advertising – Any agree, by gender and income, December 2014
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- Figure 140: Attitudes toward advertising – Any agree, by age and income, December 2014
- Millennials online
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- Figure 141: Online activities, December 2014
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- Figure 142: Online activities, by gender, December 2014
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- Figure 143: Online activities, by younger and older Millennials, December 2014
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- Figure 144: Online activities, by area, December 2014
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- Figure 145: Online activities, by household income, December 2014
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- Figure 146: Online activities, by employment status, December 2014
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- Figure 147: Online activities, by parental status by gender, December 2014
- Interactions with companies and brands
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- Figure 148: Interactions with companies and brands, December 2014
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- Figure 149: Interactions with companies and brands, by gender, December 2014
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- Figure 150: Interactions with companies and brands, by younger and older Millennials, December 2014
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- Figure 151: Interactions with companies and brands, by area, December 2014
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- Figure 152: Interactions with companies and brands, by household income, December 2014
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- Figure 153: Interactions with companies and brands, by employment status, December 2014
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- Figure 154: Interactions with companies and brands, by marital status, December 2014
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- Figure 155: Interactions with companies and brands, by parental status by gender, December 2014
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- Figure 156: Interactions with companies and brands (netted), by parental status, December 2014
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- Figure 157: Interactions with companies and brands (netted), by parental status by gender, December 2014
- Goals and aspirations
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- Figure 158: Goals and aspirations, December 2014
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- Figure 159: Personal goals, by gender, December 2014
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- Figure 160: Personal goals, by area, December 2014
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- Figure 161: Personal goals, by household income, December 2014
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- Figure 162: Personal goals, by parental status by gender, December 2014
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- Figure 163: Career goals, by gender, December 2014
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- Figure 164: Career goals, by area, December 2014
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- Figure 165: Career goals, by household income, December 2014
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- Figure 166: Career goals, by parental status by gender, December 2014
- Financial priorities
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- Figure 167: Financial priorities for upcoming year, by gender, December 2014
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- Figure 168: Financial priorities for upcoming year, by household income, December 2014
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- Figure 169: Financial priorities for upcoming year, by parental status, December 2014
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- Figure 170: Financial priorities for upcoming year, by parental status by gender, December 2014
Appendix – Trade Associations
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- 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)
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