As the biggest generation in history, millennials will have an enormous impact on the economy in the coming years. Researchers have analyzed the millennial generation from all angles — from how millennials behave at work, to how they feel about luxury brands, to the quality of their relationships with their parents, and much more.
The millennial generation, also known as generation Y, was born between 1980 and 2000. There are 79.7 million millennials in the U.S. alone. Plenty of websites provide information about marketing to millennials, but it’s important to move beyond generalizations and access more nuanced, detailed survey data and analysis. Off-the-shelf market research studies are a great starting point, especially for brand managers and strategists who are looking to target this important demographic group.
Check out the following reports on millennial consumers to learn more. These reports are listed in order of publication date and cover a variety of industries.
Millennial women are “highly engaged in their beauty routines.” They want to be photo ready, and they aren’t afraid to experiment with make-up. Social media also plays a role in their day-to-day look. Find out how to reach this tech-savvy demographic, and learn what advertising themes resonate most by reading Mintel’s new report on the topic.
“Compared to previous generations, millennials are expected to shoulder higher out-of-pocket expenses. They are more likely to have high-deductible health plans, and to be solely responsible for paying their out-of-pocket expenses,” according to a report by the Health Industry Distributors Association (HIDA).
Millennials are not only looking for price transparency and low-cost options, they also expect health providers to embrace a patient-centered approach. If providers do not meet their expectations, millennials will promptly change providers. Click to HIDA’s report to learn more.
Millennials are about to reach their prime earning years, making them even more important for marketers in a broad range of industries. Check out this report to get in-depth information about millennial attitudes and behaviors — how they perceive themselves, plan for the future, view society, and keep up with trends.
“Based on their travel behaviors and attitudes, millennials are emerging as one of the most valuable population segments for the growing U.S. travel industry,” according to a report by Mintel. Millennials are more than willing to splurge on travel, and they are also interested in the sharing economy. Find out more in this report.
An essential resource for chefs, executives, and researchers in the food industry, this Packaged Facts report explains how to appeal to the “demanding but trend-setting” millennial generation. The report covers the following food trends: customization, mashups, munchies, bowls, shrubs and digestives.
Millennials spent $10.6 billion on their pets in 2014 alone. Millennials were responsible for 43% of the growth in the number of pet owners in the U.S. between 2007 and 2015. Moreover, this age group is much more likely than those in the 35-and-over age group to spend higher amounts on pet products and services. Read this report to learn what makes millennial pet owners unique and how marketers can be attuned to their needs.
More than 20 million 18- to 34-year-olds are raising children. This Packaged Facts report draws on proprietary survey data from 25,000 consumers across the U.S. to provide unique insights into this important demographic. The report explores social trends, demographic characteristics, media usage, consumer behavior, and other essential marketing implications.
Interested to see additional research? Click the button below to view more information on 35+ reports on millennial consumers.
About the Author: Sarah Schmidt is a Managing Editor at MarketResearch.com, a leading provider of global market intelligence products and services.