It’s no secret that Generation Y is the next powerhouse consumer segment. Known as Millennials, they’re about 80 million strong in the U.S.—about 25 percent of the country’s consumer population—and their spending power increases ever year. In fact, Millennials will outspend Baby Boomers in about five years. While the size and growing economic influence of this demographic illustrate its overall importance, Millennials are very different from previous generations. And according to John Rountree, the differences are critical for financial services providers to be aware of in order to build long-lasting relationships with them.
- Investing in the Future: Millennials Are Willing To Pay Extra For a Good Cause, June 23, 2014.
- Money Matters: Upscale Millennials are Saving for Tomorrow, April 15, 2014.
- The Evolution of Modern Banking, March 19, 2014.