Millennials, you’re not the younger generation anymore. For the past decade, you were the ones to watch. But now, as the eldest among you are fast approaching 30, there’s a new group just begging for some attention.
As it said, by 2017, Millennials – those consumers now in their mid-teens to mid-30s – will have more spending power than any other generation.
Who are the Millennials?
Based on the Pew Research Center
They are the most ethnically and racially diverse cohort of youth in the nation’s history. Among those ages 13 to 29: 18.5% are Hispanic; 14.2% are black; 4.3% are Asian; 3.2% are mixed race or other; and 59.8%, a record low, are white. They are starting out as the most politically progressive age group in modern history. They are the first generation in human history who regard behaviors like tweeting and texting, along with websites like Facebook, YouTube, Google and Wikipedia, not as astonishing innovations of the digital era, but as everyday parts of their social lives and their search for understanding. They are the least religiously observant youths since survey research began charting religious behavior. They are more inclined toward trust in institutions than were either of their two predecessor generations — Gen Xers (who are now ages 30 to 45) and Baby Boomers (now ages 46 to 64) when they were coming of age.
So basically, Millennials are those people that hyper-social, constantly connected to social and endlessly curious about what others are doing, buying, and enjoying – strangers as well as friends. They are the marketing savvy and ad averse, having been marketed to more than any other generation. And at the same time, they’re still interested in engaging with brands – most feel companies should offer more ways for customers to share their opinions online, according to Bazaarvoice
They influence all other demographics with their online opinion and advocacy. The value of this group goes far beyond the account balance. After you see below this infographic, will you proactively start to planning your social strategy ?