Marketing to millennials statistics and trends

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    19-Feb-2017

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  • 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:advertising@republicmedia.com

  • 2

    2

    18-29

    GENERATION Y

  • 3

    NATIONAL TRENDS

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

    3

    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 bachelors

    degree recipients have

    student loans

    Less likely to drive or even have driverslicenses 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.

  • 4

    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

    4

    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

  • 5

    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.

    5

    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.

  • 6

    DEMOGRAPHIC SNAPSHOT OF MILLENNIALS IN PHOENIX

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

    2% more Hispanic

    YOY

    (41% Hispanic)

    6

    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

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

  • 7

    MILLENNIALS HAVE GROWN UP USING TECHNOLOGY

    AND ARE LIKELY TO USE TECHNOLOGY TO SHOP,

    COMMUNICATE AND GATHER NEWS

    7

    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.

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

    53%

  • 8

    DIGITAL BEHAVIORAL TRENDS

    8

    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

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

    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

  • 9

    MILLENNIALS INTERESTS BY CATEGORY

    (ACCORDING TO INTERESTS ON FACEBOOK)

    9

    Source: Socialtyze.com (Oct 2013)

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

    Nearly 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