Marketing to millennials statistics and trends

F O R A D V E R T I S I N G I N F O R M A T I O N ,

P L E A S E C O N T A C T :

R E P U B L I C M E D I A A D V E R T I S I N G

E M A I L : A D V E R T I S I N G @ R E P U B L I C M E D I A . C O M

P H O N E : 6 0 2 . 4 4 4 . 4 9 2 0

M A R K E T I N G T O

M I L L E N N I A L S –

S T A T I S T I C S &

T R E N D S

A P R I L 2 0 1 6

mailto:[email protected]

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2

18-29

GENERATION Y

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NATIONAL TRENDS

Source: U.S. Census Bureau; Forbes.com 2015; Time.com 2015

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Millennials now represent the

largest generation in the U.S.

comprising about 1/3 of the total

populationDigital Natives: 81% are on

Facebook; 55% have posted a

selfie on a social media site

$200 billion

annual buying

power

Millennials have

average student loan

debt of $27,000; 2/3 of

recent bachelor’s

degree recipients have

student loans

Less likely to drive or even have driver’slicenses due to high cost of owning a vehicle and the increasing easeof public transport.

In 2014, 37% of female Millennials and 43% of young men were living at home –the highest rates since 1940.

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NATIONAL TRENDS

Challenges Facing Millennials :

Un/underemployment - 37% are unemployed

Debt – burdened by college debt; 36% rely on their family for financial support

Mental Health – 44% of college students in counseling in 2010 had severe psychological disorders, compared to just 16% in 2000

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Marketing to Millennials:

Performance – Emphasis on maximum functional end-benefits and everyday high performance (ex. Power Kiss Furniture)

Conscientious – Emphasis on collectiveness, resourcefulness and creativity (ex. TOMS ‘One for One’)

Identity – Highly aspirational and leading edge, with a focus on status and coolness (ex. Secret Street Fashion)

Supportive – Focus on adding value to everyday life, reducing risk and prioritization (ex. Virgin Blue, Redundancy Refund Promise)

Engage – About 95% say their friends are the most credible source of product info; must create brand evangelists within this group to spread the word

Source: Pewresearch.org/Millennials (2013); Entrepreneur.com 2015

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56% OF 18-29 YEAR OLDS ARE COMPRISED OF THE

PRIZM LIFESTAGES BELOW

F4 - Sustaining Families – 26%

Sustaining Families is the least affluent of the Family Life groups. Ethnically mixed,

these segments also display geographic diversity--from inner cities to some of the

most isolated communities in the nation. Most adults hold blue-collar and service

jobs, and live in small, older apartments and mobile homes. The lifestyles are

similarly modest: households here are into playing games and sports, shopping at

discount chains and convenience stores, and tuning into nearly everything that airs

on TV and radio.

F2 – Young Accumulators – 14%

These households include an above-average number of Hispanic and Asian-Americans. Adults typically have college educations and work a mix of white-collar managerial and professional jobs. Found mostly in suburban and exurban areas, the large families have fashioned comfortable, upscale lifestyles in their mid-sized homes. They favor outdoor sports, kid-friendly technology and adult toys like campers, powerboats, and motorcycles. Their media tastes lean towards cable networks targeted to children.

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Source: 2015 Phoenix CBSA Scarborough Release 2 (Aug 2014 – Jul 2015)

F3 - Mainstream Families – 16%

Middle- and working-class child-filled households with an above average number of Hispanics. High rates of parents, living in modestly priced homes and ranking high for owning three or more cars. As consumers, Mainstream Families maintain lifestyles filled with lots of sports, electronic toys, groceries in bulk and televised media.

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DEMOGRAPHIC SNAPSHOT OF MILLENNIALS IN PHOENIX

20% OF PHOENIX MARKET ARE 18-29 (670,500 ADULTS)

2% more Hispanic

YOY

(41% Hispanic)

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52%

48%

48% have kids

in HH

Median Household

income: $41,334

43% own home

17%

69% Employed/

37% Full Time

41% in college/university


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MILLENNIALS HAVE GROWN UP USING TECHNOLOGY

AND ARE LIKELY TO USE TECHNOLOGY TO SHOP,

COMMUNICATE AND GATHER NEWS

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78% 26%69% 26%

22% 9%51

%

33%

85% of 18-29 year olds connect on one or

more of the

following social media sites:49% 17

%

80% of 18-29 year olds shopped at one or

more of these sites in the past month.


53%

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DIGITAL BEHAVIORAL TRENDS

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Sports related websites/apps (among men 18-29)

34% checked sports updates online – up 2% YOY

17% Fantasy Football – up 49% YOY

Movie/TV related websites/apps

57% used Netflix – up 25% YOY

36% watched or downloaded movies – down 15% YOY

Other media related websites/apps

60% watched videos online – down 10% YOY

36% read or wrote blogs – up 36% YOY


Music related websites/apps

42% listened to online radio (Pandora, iHeart) – down 3% YOY

48% listened or downloaded music (iTunes, Rhapsody) – up 12% YOY

Visited website/app past month

News related websites/apps

37% read local news online – up 65% YOY

38% read national news online – up 16% YOY

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MILLENNIALS’ INTERESTS BY CATEGORY

(ACCORDING TO INTERESTS ON FACEBOOK)

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Source: Socialtyze.com (Oct 2013)

More than any other category, Millennials associate most with music.

Nearly ¼ of their interests are singers, bands or instruments.

Favorite genres includes Rap (27%), Pop (21%) , Rock (18%) and Country (15%)

2.0%

2.9%

3.6%

4.1%

6.5%

12.3%

18.5%

23.2%

24.8%

Politics

Food

Reading

Sports

Fashion

Movies

TV

Activities

Music