- 60% of Millennials (vs 46% of non-Millennials) are engaged in rating products and services.
- 60% of Millennials (vs 29% of non-Millennials) are engaged in uploading videos, images and blog entries to the Web.
- 43% of Millennials prefer to shop the brands they grew up with, however, 56% are willing to switch brands in favor of a good deal.
- 50% of Millennials say they are more likely to buy a brand they know supports a cause.
- 52% of Millennials use their mobile devices on social media to note they like a brand.
- 43% of Millennials check for coupons or promotions on their smartphones while in a store.
- 59% of Millennials list friends as the people who influence their purchase decisions.
- 59% of Millennials buy brands that reflect their style and personality.
- 40% of Millennials are willing to pay extra for a brand that reflects the image they wish to convey about themselves. (Compared to 25% of non-Millennials.)
- 22% of Millennials said that brands must “stand behind” their product. (Compared to 42% of Boomers.)
- 81% of Millennials are less about “friendly” service than “fast” service.
- 56% of Millennials report that they are usually among the first to try a new technology.
- 84% of Millennials report that user-generated content on company websites has at least some influence on what they buy.
- 34% of Millennials have been raised by wealthy parents who are still willing to foot the bill.
- 50% of younger Millennials and 47% of older Millennials trust retailer websites. (Compared to 33% of GenX and 36% of Boomers.)
- Millennials are 2.5x more likely to be an early adopter.
- Millennials are influencing purchasing decisions to the tune of $500 billion each year.
- Millennials are currently the largest demographic purchasing new technological gadgets and fashion apparel.
- Millennials say price is the most important factor when it comes to making a purchase decision.
- Millennials are 2.5x more likely than Boomers to share a social-media link that references a brand.
- Millennials are 44% more likely to trust experts (who happen to be strangers).
- Millennials are 262% more likely than the average shopper to be influenced by smart-phone apps.
- Millennials are 247% more likely to be influenced by blogs or social networking sites.
- Millennials are 216% more likely to be influenced by in-store touch screen displays.
- 11.8 million Millennials ages 18-30 are currently living in U.S. households with annual incomes exceeding $100,000.
- 74% of 12-17 year olds use social networks to talk about products with friends and make recommendations.
- The top 5 purchases Millennials won’t make without user-generated content are major electronics (44%), cars (40%), hotels (39%), travel accommodations (32%), and credit cards (29%).
- Brands 24/7 availability is significantly more important to Millennials than to others.
*Jeff Fromm & Christie Garton, Marketing To Millennials: Reach the Largest and Most Influential Generation of Consumers Ever (New York: Barkley Inc, 2013)
*Christine Barton, Lara Koslow, Christine Beauchamp, The Reciprocity Principle, How Millennials Are Changing the Face Of Marketing Forever (The Boston Consulting Group, Jan 2014)
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About the author
Internationally recognized speaker and trainer who helps organizations better lead, engage, and market to Millennials and Generation Z. He also shares his top-ranked generational and future of work insights as an Inc.com columnist.