Like many generations before, today's Millennials are a coveted group for marketers. Gen Y's buying power comes in second only to the Boomer age group, and Millennials are the first to grow up in today's digitally connected culture. Understanding a generation that speaks in acronyms -- like YOLO -- and keeps their eyes glued to their phones can be difficult, but achievable.
We track youth's habits and trends constantly, examining how Millennials, the largest generation in American history, are influencing and shaping culture. They'll be leading the way with major media shifts in 2013, stemming from their desire to make the world simply more intuitive. The following are five flavors of innovation we expect to see in 2013.
There's a point in a poker game when you've assessed the strength of your hand and evaluated your opponents' faces, considering the likelihood that they might have something better. You decide to trust your gut and make a bold move. You go "all in."
Given that Millennials are in their prime athletic years (18-35), it might be expected that they would be in better shape than other generations and at least meeting the Centers for Disease Control's minimum guidelines of 2.5 hours of moderate exercise per week. Unfortunately, researchers are finding that isn't necessarily the case. According to Mintel, while 88% of Millennials engage in some form of exercise, they are not as physical as they think. And a study by Life University found that Millennials believe they are healthier than other generations but their actual habits are in fact no different from their ...
Millennial males are not insensitive baboons. They're in tune with their feelings and willing to admit that real men cry. They put style in front of comfort, wear tight jeans and care about grooming. They don't see the success of women as The Terminator's rise of the machines, because it's never been a competition. They are partners in the household when it comes to cleaning, child rearing or grocery shopping - name it and they help.
Mention the words "spring break" to marketers, and many turn up their noses, conjuring images of girls gone wild and underage drinking. Don't let all the hype fool you. The overwhelming majority of these kids are acting responsibly and creating the memories of a lifetime. So catch them while you can, because once they hit their 20s, this group becomes more elusive than Mary-Kate and Ashley, until they settle down and become parents. By then, they've had plenty of time to pick a favorite shampoo, decide whether to become a Mac or a PC and buy a hybrid car.
Entitled, demanding, out-spoken, and flighty; there are a lot of negative stereotypes associated with Millennials. But if you look past these generalities, you will find that this generation wants to change the world and feel empowered to do so. They know how to harness and use technological resources both for their own benefit and to reach a very broad audience for their concerns.
Millennials are often criticized for not consuming news, but, despite this perception, they actually are reading and responding to news constantly. Their habits, however, differ from those of previous generations and, because of that, they're shaping the ways in which news exists. They're innovating the industry, making the consumption of news more social, yet they're still informed and are active in responding to what's happening in the world at large.
Blame it on being raised by idealistic Baby Boomer parents. Blame it on playing team sports where everyone had an equally important role to play and everyone got a trophy. But, the result is still the same ... Millennials have a cohort perspective. They tend to think of things in terms of the impact on the group, not the individual. As such, they tend to be engaged in social issues and causes.
We've all read the headlines, that Millennials are the hardest generation to reach due to their multi-tasking, multi-screen, "always on" mentalities. With this group's tendency to overload their senses and ability to edit their lives in real time, Millennials are savvy to the ways of traditional advertising. This makes it hard to figure out how to engage them and even more difficult to begin the conversation. When it comes to the Millennial attitude towards marketing, they don't want to be told what to do, what to like, or what to buy and will quickly tune out any message that is ...