We’ve lately been hearing a bunch of Just Kid client curiosity about the “next generation” of consumers, aptly named “Millennials,” sometimes labeled “Generation Y.” So a brief update on the next powerful consumer force seemed to be in order. A recent Just Kid webinar on the subject saw 69% of attendees state that Millennials were “extremely important” to their marketing plans over the next two years.
Born between 1982 and 2000, this generation began graduating from High School in the year 2000. Between 1982 and 2000, 70-million millennials were born! While the oldest are graduating college, buying cars, and entering the workforce, the youngest Millennials are still in grade school. (Some demographers split the generation between “old” born 1982-94 and “new” born 1995-2000).
Compared to earlier generations, as a rule, the Millennials are:
- more empowered and self-confident
- more achievement-oriented
- more techno-savvy, and “connected”
(Think Facebook, IM, text messaging)
- and more self-confident than predecessors.
They’re also more pressured, and find multi-tasking a way of life, not just a coping method. They’re demanding, too. Raised on immediate downloads, they expect 24/7, fast, personalized service and have zero tolerance for delays. As this group “ages up,” marketers need to watch out—they may well be the most demanding consumers we have ever seen.
Millennials are optimistic “doers” who respect rules and authority, prefer teamwork to individual achievement, and are far more involved with mom and dad than previous generations. They worry about getting into and affording a good college, but clearly plan to graduate. Most have seen both the “boom times” of the late ‘90’s and the bursting bubble of the early 00’s, so getting a good job and affording a family weigh heavily on their minds.
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About Us
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Just Kid is the nation’s leading kid research, strategy, and innovation company serving the needs of a broad range of
corporate and non-profit clients.
The insights in this newsletter reflect our passionate belief in superior kid knowledge as the foundation of all great
innovation in the kid and family space.
We are eager to discuss ways this new knowledge could be applied to create transformational new
ideas within your organization.
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It’s important—but hardly new news—that this “connected” generation “owns” Facebook, Twitter, IM, and Myspace and other social networking sites. Media sources report that 38% of Millennials use one of these sites daily, and as many visit at least weekly. 37% use these sites to recommend products to their peers, a new marketing opportunity. Many use their social networks to badmouth their bad product or service experiences.
Marketers must adapt messages to personalize and target messaging in interactive and social networking contexts or formats. Cause marketing can also prove quite powerful with this highly-responsible, “green” oriented generation that shows high respect for companies that:
- give back to their community
- provide products or services that do what they promise
- have fair labor practices
- and are “green” or “eco friendly”.
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