Media types often like to portray Millennials as irresponsible and irrepressible narcissists who are more interested in squandering their paychecks on pricey avocado toast or on ill-fated music festivals held at private Caribbean islands than saving for the unforeseeable future.
Many of us will head to the grocery store this Memorial Day weekend to pick up a few items and, inevitably, that includes grabbing beer, wine or a spirit product. We have our list in hand and a pretty good idea of what we're going to buy. But something happens to 21% of us while in the store: We change our mind.
You've heard the stereotypes. Those youngsters are glued to their phones and don't appreciate the simple idea of walking into a brick-and-mortar shop. After all, they could just type a few keystrokes and have whatever they want delivered from myriad online retailers. And this is all reinforced by many retailers reporting declining sales year over year. So isn't it curious when you hear reports that millennials actually prefer shopping in-store?
A few years ago, brands like IHOP got caught using millennial-friendly lingo in their social media post. Some wag founded a Twitter feed called "Brands Saying Bae" that preserved their efforts for future generations.
Mobile marketers, take note: Millennials already live in an omnichannel shopping mindset. In fact, they were living in this mindset years before most businesses realized they needed to adjust operating models accordingly. These young shoppers carry with them the central expectation that a spectrum of seamless and consistent online and offline engagements will be the norm across their shopping journey.
As marketers, we love talking about the difference between Millennials and Gen X. Mainly because we are probably Gen Xers and we think we are better than everyone else. But we also like it because labels make things easier.
For many Millennials nowadays, graduating from childhood into adulthood seems to be an especially uncertain passage. The confluence of student loan debt, underemployment, and delayed marriage has resulted in a unique generational moment when more American young adults currently live with their parents than in any other living arrangement, according to the U.S. Census Bureau.
Whether it is a brand, professional sports league or media company there is a perpetual challenge to be authentic while appealing to younger demographics. Call them Millennials. Call them Generation Z. Call them the iGeneration. It is critical for any entity distributing a product to form a connection with these users. How can this be accomplished without looking inauthentic on social media? Nobody wants to be the old guy at the party talking about SnapFace or InstantChat, unless you are Bill Belichick.
Authenticity and transparency are today's watchwords and have become synonymous with millennial audiences in our digital environment, the only environment millennials have ever really known. Consequently, brands are now able to connect with these always-on consumers in an unprecedented way.
With all the buzz around new technology, the latest apps and the future of media, it is easy to assume that everything is moving in the direction of on demand, customizable content. However, in surveying and talking in person with thousands of young people across the country we find that even the latest and greatest new music inventions can never fully replace the connection they feel to live AM/FM radio and the personalities that bring it to them.