Table of Contents
Executive Summary
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- The issues
- Millennials are responsible and feeling the burden of responsibility
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- Figure 1: “Responsibilities prevent me from doing the things I want” (% any agree), Millennials vs overall, June 2019
- The struggle is real: experiences vs finances – don’t shame them for lifestyle choices
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- Figure 2: Achievement of financial goals, June 2019
- The relationship with brands is more personal for Millennials than older generations
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- Figure 3: “The brands I use reinforce the image I want to portray” (% any agree), by generation, June 2019
- Opportunities
- Be mindful that this generation is literally in transition
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- Figure 4: Selected activities enjoyed the most (any rank), Millennial mothers with under-18s at home vs Millennial women who do not have children, June 2019
- Millennial parents aren’t growing out of their desire for experiences
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- Figure 5: “I’d rather spend money on experiences than things” (% any agree), Millennial parents with under-18s at home vs those who are not a parent, June 2019
- Millennial parents under more pressure, Millennial dads struggling to adjust
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- Figure 6: “Life seems easier for my friends than for me” (% any agree), Millennial fathers vs Millennial mothers, June 2019
- What it means
The Market – What You Need to Know
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- Major life markers fall within the Millennial age definition
- Millennial moms grew up with working moms
- Millennials are more ethnically diverse
Market Factors
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- Millennials are at a true transition point
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- Figure 7: Average age of mother at first birth, 1945-2016
- Millennials make up a quarter of the population, and are growing up
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- Figure 8: Canadian population, by age group, 2018
- More employed moms than before, more pressure on Millennial moms
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- Figure 9: Employment status of couple families with at least one child aged under 16, May 2016
- More women entering workplace just as Millennials were born
- The pressure is on for Millennial moms
- Millennials are more ethnically diverse than older generations
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- Figure 10: Distribution of foreign-born population in Canada, by region of birth, 1871 to 2036
- Inclusivity must be a consideration in marketing campaigns
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- Figure 11: Self-identification of ethnicity, by generation, June 2019
Key Players – What You Need to Know
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- Industries are gaining from blurring adulthood/childhood lines
- The experiential generation makes shopping more interesting
- Tech is opening hearts and minds and companies are responding
- Lifestyle shaming is unproductive and masks bigger issues
What’s Trending?
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- Spotlight on challenging what ‘adulthood’ looks like
- Leisure and entertainment companies cater to blurring lines and seeing success
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- Figure 12: Play Great Games Together – Nintendo Switch, May 2018
- Spotlight on Millennials as ‘The Experience Generation’
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- Figure 13: “I’d rather spend money on experiences than things” (% any agree), by generation, June 2019
- Starring: Market & Co and the ‘Food That Sings’
- Starring: IKEA
- Spotlight on Millennials as ‘The Wellness Generation’ or ‘Generation Health’
- Starring: Bell Canada and Headspace x NBA on mental health
- Starring: President’s Choice on social bonding
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- Figure 14: #EatTogether 2017, December 2016
- Figure 15: #EatTogether 2019, December 2018
What’s Not Working?
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- Lifestyle shaming
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- Figure 16: Suze Orman: How Your Daily Coffee Habit Is Costing You $1 Million, March 2019
- A generation struggling to find the balance
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- Figure 17: Attitudes towards the usage of social media (% any agree), by generation, June 2019
- Consider promoting a give-take/trade-off model
What’s Next?
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- More avenues to address holistic health thanks to Millennial interests
- Spotlight on Pokémon: gaming for a better night’s sleep
- Spotlight on Sofi: acknowledging the emotional toll of debt
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- Figure 18: Money Talks Story #1 – Sophia + Imran, December 2018
- Figure 19: Money Talks Story #2 – Alyssa + Keith, December 2018
The Consumer – What You Need to Know
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- Millennials are growing up…
- …and are busy
- Favourite activities vary by lifestage
- Reliance on tech makes them different to older generations
- For Millennials, brands are an extension of the self
Today’s Millennial Lifestage
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- Bucking stereotypical images – they’re ‘the convenience generation’ for a reason
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- Figure 20: Key demographics: works full time and parents with under-18s at home, by generations, June 2019
- Responsibilities take a toll, creating a real need for shortcuts – ie conveniences
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- Figure 21: PC Express – The Talk 30sec, May 2019
- Millennials are catching up financially and optimistic about achieving goals
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- Figure 22: Achievement of financial goals, June 2019
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- Figure 23: Achievement of financial goals, Millennials vs older generations June 2019
- They’re hungry for more info to achieve immediate financial goals
- Millennial women need more assistance with financial management
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- Figure 24: Achievement of financial goals, by gender, June 2019
- Start by acknowledging this is an issue
- Case studies: SoFi and Visa
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- Figure 25: Money is Changing: The Cost, February 2019
- Figure 26: Money is Changing: Pay equality in Hollywood, February 2019
Perception of Current Lifestage
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- Millennials see themselves as being in transition
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- Figure 27: Correspondence Analysis – Symmetrical map – Generational perspectives, June 2019
- Career-oriented images are relatable
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- Figure 28: #EatTogether 2018, December 2017
- Most aren’t quite where they thought they’d be, but they’re optimistic
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- Figure 29: Attitudes towards current lifestage (% any agree), June 2019
- They are a generation in transition and could use some help
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- Figure 30: Attitudes towards current lifestage (% any agree), Millennials vs overall, June 2019
- Parenting for the Millennials is unique
- Parenting for Millennials (literally) looks different than previous generations
- Connecting with Millennial parents means supporting them to achieve their version of success
- Case studies of parenting scenarios: McCafe and PC Financial
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- Figure 31: McCafé Mobile Order and Pay | Singing, March 2019
- Figure 32: PC Financial | Cake Mix, May 2019
- Parents are undeterred by responsibilities in their optimism
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- Figure 33: Attitudes towards current lifestage (% any agree), Millennials vs overall, June 2019
- Don’t shy away from the unique challenges facing Millennial parents
- Case study of showcasing today’s issues: Spark
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- Figure 34: Generation Voice is here, September 2018
Millennial Worries
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- Millennial are in a transitional period, as are their worries
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- Figure 35: Stressors (any rank), by generation, June 2019
- More ‘titles’ means more stressors for Millennial women
- Recap: Millennial women are more likely to be worried about their financial situation
- The practical double shift: married women stress about keeping up with responsibilities
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- Figure 36: Stressor: ‘keeping up with everything I need to do’ (any rank), married millennial women vs millennials overall, June 2019
- The emotional double shift: Millennial moms stress about making everyone happy
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- Figure 37: Stressor: ‘trying to make everyone happy’ (any rank), millennial mothers vs millennials overall, June 2019
- Shortcuts need to address both and be positioned in a way that works for them
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- Figure 38: McCafé Mobile Order and Pay | Singing, March 2019
- Four in 10 have older children, making family relationships an area of focus
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- Figure 39: Stressor: ‘relationships with family members (any rank), millennial parents with 6-17s at home vs millennials overall, June 2019
- Experience Generation? Yes, but for the whole family
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- Figure 40: Parents Love It, April 2019
- Make the emotional connection the star
- Case study on bonding: Cineplex
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- Figure 41: Share Reel Love for Father's Day, June 2017
- Young Millennial men find personal relationships stressful
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- Figure 42: Stressors: ‘romantic relationships’ and ‘relationships with friends’ (any rank), younger millennial men vs millennials overall, June 2019
- Set up Young Millennial Men with the right conditions to mix and mingle
- Case studies on layering on the ideal settings: Lululemon, Safeway and Metro
- Case study on matching online with offline interactions: Bumble
Favourite Activities
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- Family time tops the list
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- Figure 43: Activities enjoyed the most (any rank), by generation, June 2019
- Motherhood defines Millennial Moms
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- Figure 44: ‘Spending time with my family’ as activity enjoyed the most (any rank), Millennial mothers vs all Millennials, June 2019
- Help support Millennial moms to do motherhood their way
- Case study on providing meaningful tools: Solly Baby
- ‘Girls night in’ grows up: catering to childless Millennial women
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- Figure 45: Selected activities enjoyed the most (any rank), Millennial women who do not have under-18s vs all Millennials, June 2019
- Make book clubs the star and products/services a supporting cast member
- Consider promoting a ‘binge club’ in a similar manner
- Young Millennial men enjoy physical activities and video games
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- Figure 46: Selected activities enjoyed the most (any rank), young Millennial men vs all Millennials, June 2019
- These will continue to form the basis of relaxation for men as they ‘grow up’
The Impact of Tech on Interactions
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- In some ways, more tech means more problems for Millennials
- Communication preferences of Millennials are more like Gen Z
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- Figure 47: Attitudes towards communicating with tech (% any agree), by generation, June 2019
- As are the perceived consequences of using tech to interact with others
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- Figure 48: Attitudes towards the impact of communicating with tech (% any agree), by generation, June 2019
- But, the pressure to balance online and in-person interactions likely ring stronger for Millennials
- Connect with Millennials by encouraging them to disconnect (momentarily, anyway)
- Case studies on promoting some healthy competition: Hotel Bellora and IKEA
- Case study on promoting reminders of time limits: Pernod Ricard
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- Figure 49: Anuncio Ruavieja 2018 – Tenemos que vernos más, November 2018
- Millennial dads feel like they’re getting the short end of the stick
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- Figure 50: “Life seems easier for my friends than for me” (% any agree), Millennial fathers vs all Millennials, June 2019
- Expectations are clearly depicted for Millennial dads, and the bar can be high
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- Figure 51: John Legend's "Stinky Booty" Song with Pampers, June 2018
- Figure 52: Pampers, Adam Levine, John Legend and Chrissy Teigen star in “Stinky Booty Duty 2.0”, February 2019
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- Figure 53: #TakeTheTime | 5 Dads. 5 Weeks. | Dove Men+Care, May 2019
- Like with moms, help dads choose their own adventure
Connecting with Millennial Values
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- Brands are a part of the Millennial identity
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- Figure 54: “The brands I use reinforce the image I want to portray” (% any agree), by generation, June 2019
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- Figure 55: Millennial attitudes toward brands representing values, June 2019
- It’s time to take a stand
- Millennials expect companies to walk their talk
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- Figure 56: Millennial ranking of best ways for brands to represent their values, June 2019
- Employment fairness strikes a personal chord for Millennials
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- Figure 57: Millennial ranking of the most important values Canadians should have, June 2019
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Consumer qualitative research
- Correspondence analysis
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- Figure 58: Generational perspectives, June 2019
- Abbreviations
- Terms
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