Millennials 77 million strong

millenialsnielsenAccording to Nielsen Millennials are 77 million strong, on par with Boomers, and they make up 24 percent of the U.S. population. This represents significant opportunity for brands that understand who Millennials are, where they live and what they watch and buy. In order to truly understand Millennials, however, they must be put in the context of the other generations.   Continue reading

Millennial and Boomer Shoppers Compared

millvsboomersConventional wisdom says that Millennials (18-32 year olds) and Boomers (49-67 year olds) are more different than alike. But when it comes to shopping, exactly how wide is the generation gap? A new study of Millennial and Boomer purchasing trends conducted by Radius Global Market Research (Radius GMR) shows that while there are certainly differences, there are also  some significant similarities between the two groups. Continue reading

Focus on consumers: Boomers-Millennials

consumersfoodpricesNielsen surveyed nearly 28,000 households between March 14, 2013, and May 6, 2013, and another 41,000 households between Nov. 14, 2013, and Jan. 16, 2014.  Overall, rising food prices ranked No. 1 on our list of headwinds, as almost two-thirds of households (64%) said prices were a major factor limiting their spending in mid-2013, and more than half (52%) were still unhappy with prices in January 2014.  In the face of headwinds, consumers responded with pragmatism, saying they made trade-offs or bought less. When it came to coping with headwinds, consumers said they tightened their belts across the board except when asked about responding to rising gas and food prices. Notably, 75 percent of respondents said higher fuel prices caused them to make fewer trips, whereas more expensive food prompted 65 percent to seek out better deals. Continue reading

Millennials and the new era of brand loyalty

millennials brandingPOST SUMMARY: Every generation has its story: Baby Boomers, America’s greatest generation; Gen X, the slackers; and lastly Gen Y, the boomerang generation—digital natives, or as they’re best known today, Millennials. For marketers, Millennials are the most important generation to come along in the last 100 years, perhaps ever. This group of young adults is the largest generation by number in US history. Millennials number more than 80 million. That’s a population larger than the Baby Boomers, and it outnumbers Gen X almost 3:1. Millennials came of age in the wake of massive advancements in technology, unparalleled communication access, and media exposure that allowed people to spread information faster to a wider, more diverse audience than in any generation before them. Continue reading

Millennials to outnumber baby boomers

screenshot_1586-resizedAccording to the Boston Consulting Group Millennials are going to be a critical market segment across product and service categories.  In the U.S., by 2030, Millennials will likely outnumber baby boomers 78 to 56 million.  Millennials expect a two-way mutual relationship with brands and companies must make marketing to Millennials a priority now. Continue reading

Millennium mom’s use of social media

momsMillennial mom’s are an important demographic segment who goes online for help and advice managing their busy days.  They are a large segment with huge spending power; 84mm US adults aged 18-34 ; $1.3t in annual spending, $430b discretionary spending and 83% of new moms are Millennials.  For them mobile and the Internet are an essential tools to help them manage their families. Continue reading