According to the U.S. Census Bureau’s International Database, Millennials make up one-fourth of the planet’s population, which translates into 1.7 billion people. As a consumer group, they’re just starting to flex their spending power, which will grow significantly in the coming years. While they’re years from fully establishing themselves, they’re already having a marked impact on the global consumer landscape.
Having grown up amid growing media fragmentation, Millennials are hyper adept at multitasking and are fully immersed in both their digital and physical lives. Notably, findings from more than a dozen Nielsen Global Survey reports from 2013-2016, which polled the attitudes of more than 30,000 online consumers in more than 60 countries, revealed that Millennials are a social, community-driven generation that values the voice of the individual.
Millennials are also a demanding generation that wants a more balanced, healthy lifestyle, and they want to be more informed about companies, their products and their business practices. They also expect products to do more for them and for their community.
They excel in a fast-paced world that requires an on-the-go lifestyle. They value, even demand, connectivity, convenience and options that allow them to be in control.
These core values and characteristics will remain the key influencers and drivers for how Millennials think, spend and act throughout their lifetimes.