Millenials

Millennials Overview

Spoil Alert for those who have not taken the poll Do You Know The Demographics . If you haven’t taken it, stop reading now…take it…then come back and continue!


 

While I will do my best to provide a high-level overview of the Millennial here, please note there are so many layers to this unique generation and I look forward to discussing them in upcoming posts,

Millennial

Nielsen defines the millennial as someone who was born between 1977 – 1995 and further breaks down this generation into 2 segments

  • Younger Millennials (18 – 27)
  • Older Millennials (28 – 36)

Millennials have also been labeled as the ME Generation, the Net Generation, and yes – Generation Y (for those who have taken the poll, the correct answer was #2 “Millennials are also known as Generation Y”).

Here are some key factoids provided by Nielsen in their Millennials – Breaking the Myths Report (I highly suggest checking it out if you’re interested in learning more)

  • Millennials represent 24% of the U.S. population (approx. 77 million)
  • Millennials are the most ethnically diverse generation
    • 19% are Hispanic
    • 14% are African-American
    • 5% are Asian
  • Millennials are the most educated generation with 23% holding a bachelors degree or higher
  • Millennials are putting off traditional adulthood milestones
    • Only 21% are Married
  • Millennials continue to expand financially
    • Younger Millennial Median Income is $25K
    • Older Millennial Median Income is $48K

Some Key Characteristics Nielsen used to describe Millennials include:

  • Diverse, expressive & optimistic
  • Preferring to live in urban, vibrant cities vs. the suburbs
  • Dealing with the state of the economy with an entrepreneurial spirit
  • Supports products/companies practicing good social responsibility; Deal Shoppers
  • Desire authenticity when interacting with brands
  • Technology is ingrained in their culture

It was predicted that by 2015, they’ll have $2.45 trillion of purchasing power worldwide across multiple channels….I can’t wait to see what the numbers look like later this year…that’s a lot of buying power

Ready or not….Millennials will continue to change the world as we know it…Let’s *Spark the Conversation* and come to understand them better together 🙂

~ Miss AJ


 

Discover the MAC seeks to explore each element encompassing the “MAC” and illustrate the cross-functional relationships which exist between them.
MAC = MILLENNIALS + Marketing ANALYTICS + Multicultural CONSUMERS
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