Millennials are a big deal.
Here are a few facts about them:
Millennials are people born between 1977 and 2000. Although, the definition varies depending on whom you ask.
There are more than 105 million of them. This makes their generation larger than Baby Boomers and 20 percent bigger than Generation X.
Millennials make up 25 percent of the U.S. population.
Millennials are not a homogenous cohort.
Millennials often seek peer affirmation before making decisions even small ones.
Their direct spending power each year averages $200 billion. And because of their influence on their parents, who are mostly Boomers, Millennials indirect spending power averages $500 billion.
As Millennials get older and their spending power increases, marketers will need to spend more time learning how to engage with this cohort.
These findings and more are supported by research Barkley conducted with Boston Consulting Group and SMG in 2011 in a comprehensive study of the attitudes and habits of this consumer group. Read the full report:American Millennials: Deciphering the Enigma Generation.
If youd rather learn about the findings another way, you can watch this handy video:
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101 Ways to Make Generations at Work
What Millennials Say in the Workplace [Humor]
Source: Millenial Marketing