Who are the millennials?

By on Aug, 15 2014 with Comments 0

Group of People“Millennials” are the hot demo target these days. But how well do you know them? If you need to brush up on your knowledge of the young-and-hip, the findings of three recent studies might help you. The reports are the “Future Foundation Millennials Study, 2014”; the “SDL Millennials Study, 2014”; and the “Millennial Central Study (females only), 2014.” Here are some of the key points…

 

Millennials:

  • Constitute 27% of the population
  • Born after 1981
  • Are more diverse than any previous generation
  • 20% are of Hispanic origin
  • 2.6% identify as multiracial
  • Marry later in life than previous generations
  • Leave home later than other generations
  • They are early adopters and rely heavily on technology
  • 30% use four or more devices a day
  • On average, they check their smartphones 43 times a day
  • Their financial picture is transitional
  • 18% live at home and are financially dependent on their parents
  • 25% of those still at home have full-time jobs
  • Another 20% work part time
  • 55% believe their personal financial situation will improve within one year
  • What they purchase is heavily reliant on word of mouth
  • 68% are completely unfazed by celebrity endorsements or star-studded ads
  • 93% have purchased a product after hearing about it from a family member or friend
  • 89% trust these recommendations more than claims by the brand
  • 59% make product recommendations to share highly positive or negative experiences
  • 41% pass these recommendations to friends and family via social media

Filed Under Media News

About The Author: RBR+TVBR has been reporting on the business of broadcasting for nearly three decades. Beholden to no one, it is independently owned.

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