“Companies that are successful among Millennials are those that take into consideration the multifaceted character of this demographic group. Although they are between the ages of 20 and 30 and the fact that they’ve had similar life experiences, there are significant differences of preference and habits between younger and older, married and single, their online activities, views on brand actions, advertising and promotions, as well as their opinion toward their professional career and personal finances.”
This report will answer the following key questions:
Who are the Millennials?
What are their online and offline activities?
What brand actions influence their purchasing decisions?
What are their views about their personal finances and job market?
What are their attitudes toward advertising and promotions of brands, products, and services?
Definitions
Millennials, also known as Generation Y, are those born between 1977 and 1994. In 2014, Millennials are between the ages of 20 and 37. In reference to the consumer research findings, Millennials are defined as:
Younger Millennials: those between the ages of 20 and 29
Older Millennials: those between the ages of 30 and 37
According to the IBGE (Brazilian Institute of Geography and Statistics), in 2014 Millennials represent 30% of the Brazilian population, or 61.4 million people. It is expected that this group will continue to grow to reach 61.86 million by 2017 (a 1% increase compared to 2014). From 2018, the number of Millennials should start decreasing, according to IBGE.
