If you’ve missed our recent blog posts on marketing to millennials then catch up quick, because this generation isn’t known for hanging around.
We’ve already looked at the generation’s shared values, why brands need to match these, and introduced you to their successors, Gen Z.
Time for something a little more digital, then. What follows are five key learning about the online behaviour of millennials, gleaned from recent studies both here in the UK, and in India, a country fast-becoming one of the biggest consumer markets on the planet, where this demographic accounts for the largest proportion of the current population.
The following figures are taken from a YouGov poll in India
*Millennials are watching less TV news
We’d never try and argue that bagging broadcast media minutes is a waste of time, because that’s simply not true. Nevertheless, research has shown that in older millennials TV news only accounts for 26.9% of current affairs consumption, online is more like 31%. For the younger end of the age range, TV gets just 18%, and online claims 34.%
*Millennials are also watching less TV overall
In our ongoing blog series on marketing to millennials we have already mentioned how on-demand is quickly replacing standard broadcast as the choice platform. Here’s more proof— 48% of the generation are using streaming services, compared with 43% signed up for cable and satellite TV
*Millennials are political active
The youngest age range on the planet, Gen Z, are showing signs of having less interest in politics than older groups we can easily assume this is because many are too young to vote or even be aware of associated issues. In terms of millennials, though, supposed apathy does not seem to be an accurate description— more than 80% said they would be voting in the next election, which on the sub-continent is next year.
The following figures are taken form BOXT research in the UK
*Millennials find online reviews invaluable
8/10 aid they would never buy a product without consulting online pro and user reviews first
*Millennials value reassurance from past experiences
3/10 will only buy from a website they have used in the past, and 3/10 would only buy from a website that has trusted recommendations
*Millennials love shopping online, but real world is still first choice
Despite popular misconceptions, 45%— so just under half— prefer making purchases via the internet
3/4 stated this was easier than going into store
Compared with Baby Boomers, millennials are 4x more likely to buy big ticket items, such as cars, online
*Millennials do have loyalties, but also a eye on their wallet
84% would prefer to buy from a local business, but it the product would need to be the same price or cheaper than alternative venders
*You can get an in-depth understanding of how to market to millennials with our free guide…
