What you need to know

In 2015, Millennials are between the ages of 21 and 38 – at 79 million, they account for about one quarter of the US population. An extremely diverse group, they are fraught with contradictions: they have been stereotyped as both altruistic and narcissistic; they describe themselves as family-oriented yet are putting off marriage and having children; they want companies to target them personally yet they often ignore advertising and scoff at attempts to understand or define them. Marketing to Millennials requires a keen understanding of how they see themselves, who and what influences them, and their attitudes toward shopping, advertising, and brands.

This report examines Millennials’ living situations, living expenses, self-perceptions, favorite brands, attitudes toward shopping and advertising, goals and aspirations, and more. It also explores how brands target Millennials, both in terms of product innovation and marketing strategies, and how Millennials interact with brands.

Definition

This report builds on the analysis presented in Mintel’s Marketing to Millennials – US, February 2014, as well as the August 2012 and March 2010 reports of the same title. Readers of this report may also be interested in Black Millennials – US, February 2015, Hispanic Millennials – US, February 2015, and Millennials and Finance – US, April 2015.

For the purposes of this report, Mintel has used the following definitions:

Millennials are defined as the generation born between 1977 and 1994. In 2015, Millennials are aged 21-38. Consumer research was fielded in 2014, when Millennials were between the ages of 20-37.

In reference to the consumer survey findings, Millennials are defined as:

  • Younger Millennials are defined as between the ages of 20 and 27.

  • Older Millennials are defined as between the ages of 28 and 37.

In reference to US Census data, Mintel has used the available age groups that best reflect the Millennial generation during the 2013 and 2014 data collection periods.

  • Millennials are considered those between the ages of 20 and 34.

  • Younger Millennials are defined as between the ages of 20 and 24.

  • Older Millennials are defined as between the ages of 25 and 34.

Value figures throughout this report are at rsp (retail selling prices) excluding sales tax unless otherwise stated.

Data sources

Consumer survey data

For the purposes of this report, Mintel commissioned exclusive consumer research through Lightspeed GMI to explore Millennials’ behavior and attitudes. Mintel was responsible for the survey design, data analysis and reporting. Fieldwork was conducted in December 2014 among a sample of 708 adults aged 20-37 with access to the internet.

Mintel selects survey respondents by gender, age, household income, and region so that they are proportionally representative of the US adult population aged 20-37 using the internet.

To provide a comprehensive analysis of multicultural Millennials, Mintel also selected 501 Black and 708 Hispanic adults aged 20-37 and applied post-stratification weights to survey respondents so that results are proportionally balanced to the US Black and US Hispanic Millennial population. The results from these samples may be viewed in Mintel’s Black Millennials – US, February 2015, Hispanic Millennials – US, February 2015. Please note that our surveys are conducted online in the participant’s language of choice (ie, English or Spanish). Millennials who are not online are not included in our survey results.

Mintel has also analyzed data from Experian Marketing Services, using the NHCS (Simmons National Hispanic Consumer Study).

The Experian Marketing Services, Simmons NHCS was carried out during August 2013-September 2014 and the results are based on the sample of 26,053 adults aged 18+, with results weighted to represent the US adult population.

In reference to Experian Marketing Services data, Mintel has used the available age groups that best reflect the Millennial generation during the 2013-14 data collection period:

  • Members of the Millennial generation are defined as those between the ages of 18 and 34.

  • Members of Generation X are defined as those between the ages of 35 and 44.

  • Member of the Baby Boomer generation are defined as those between the ages of 45 and 64.

Consumer qualitative research

In addition to quantitative consumer research, Mintel also conducted an online discussion group among a demographically mixed group of adults aged 20-37. This discussion group was asynchronous (ie not run in real time), functioning like a blog or bulletin board, with questions remaining posted for a predetermined period of time. This method allows participants to respond reflectively, at their leisure, or to log off to think about any issues raised, and return later to respond. Participants were recruited from Lightspeed GMI’s online consumer panel with responses collected in December 2014. Relevant quotes are included as stated; however, Mintel has corrected typos and grammatical errors prior to publishing.

Abbreviations and terms

Abbreviations

The following is a list of abbreviations used in this report:

rsp Retail selling price

Terms

Generations are discussed within this report, and they are defined as:

World War II /Swing generation Members of the WWII generation were born in 1932 or before and are aged 83 or older in 2015. Members of the Swing Generation were born between 1933 and 1945 and are aged 70-82 in 2015.
Baby Boomers The generation born between 1946 and 1964. In 2015, Baby Boomers are between the ages of 51 and 69.
Generation X The generation born between 1965 and 1976. In 2015, Gen Xers are between the ages of 39 and 50.
Millennials* The generation born between 1977 and 1994. In 2015, Millennials are between the ages of 21 and 38.
iGeneration The generation born between 1995 and 2007. In 2015, iGens are between the ages of 8 and 20.
Emerging generation The newest generation began in 2008 as the annual number of births declined sharply with the recession. In 2015 members of this as-yet unnamed generation are younger than age 8.

* also known as Generation Y or Echo Boomers

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