One of the largest generations in history is about to move into it’s prime spending years. Millennial’s are going to reshape the economy; Their unique experiences will change the ways we buy and sell, demand companies to evaluate how they do business for decades to come.
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WHO ARE THEY?
The Millennial generation is the biggest in US history—even bigger than the Baby Boom.
A different worldview! Millennial’s have grown up in a time of rapid change, giving them a set of priorities and expectations different from previous generations. BORN BETWEEN 1980—–2000
MILLENNIAL’S – 92 MILLION GENERATION X – 61 MILLION BABY BOOMER’S – 77 MILLION
SOCIAL AND CONNECTED
LESS MONEY TO SPEND
ENCUMBERED WITH DEBIT
DIFFERENT PRIORITIES
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As Millennial’s enter their peak home-buying years, their reluctance to enter the housing market could change. The large number of millennial’s, plus its desire to settle down in the future, could lead to a surge in home sales.
The Prime Home Buying Years – 25 to 45 years old
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Millennial’s have been putting off significant milestones like marriage and children. But that doesn’t mean they want to stay single forever.
MEDIAN MARRIAGE AGE – 2010 – 1970 –
MARRIAGE CAN WAIT
The percentage of young people married and living on their own has dropped by more than 50% since the 1960s.
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BRANDS AND RETAIL
Millennial’s love for technology is reshaping retail. With product information, reviews and price comparisons at their fingertips, Millennial’s are turning to brands that can offer the most convenience at the lowest cost.
57% – MILLENNIAL’S WHO COMPARE PRICES IN STORE
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WELLNESS
For Millennial’s, wellness is a daily, active quest. They’re exercising more, eating smarter and smoking less than previous generations. They’re using apps to track training data, and online information to find the healthiest foods. This is one space where they’re willing to spend money on compelling brands.
