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“Hi, I’m TrendyMinds. I’m a 20-year-old agency and one of 77 million Millennials in the world. I may be young, but I’ve been through a lot, including September 11th, the burst of the housing bubble and the Great Recession. I am tech savvy, diverse, media-connected and an activist for personal rights. Some generations may consider me to be narcissistic and entitled, but the reality is that I want to make a difference in the world, have a positive effect on lives and push business forward, not backward.”
Millennials are the largest generation in the world and you can’t ignore them. As an agency, TrendyMinds is comprised of more than three-fourths Millennials and we’ve provided a few insights into what we care about and what drives us:
While we were once crazy over these popular name brands and “had to have them,” as we’ve grown up, a majority of us now reject certain fads and have chosen to develop our own personal style. We express individuality through the concerts we choose to go to, the type of art we like and even the words we use to describe our personalities.
Millennials want customized products. We want the option to make products unique to us. Brands such as Nike and M&M’s are now allowing us to customize our purchases, so we can be the individual people we are striving to be.
53 percent of Millennials explore brands on social media channels compared to 37 percent of non-Millennials.
In fact, we are so well-connected online that we use social media channels such as Pinterest to become “DIY-er’s.” From finances to crafts, we find a way to do things ourselves instead of hiring professionals.
We are 23 percent more likely to be interested in traveling abroad than any other generation, and 70 percent of us want to visit all seven continents.
Millennials are a bunch of “yes” men and women who are ready to try new things on a whim, even if it’s one small step at a time.
As Millennials become the greatest spending force in the U.S. market, there will be a dramatic shift in what consumers want and are willing to pay for. Our spending habits can affect various types of businesses—such as restaurants, financial services and consumer packaged goods—and companies will need to find ways to adapt. Those who best understand us and know how to reach and engage with us will be in the best position to capitalize on the opportunity we present.
How is your company adapting to this large and diverse demographic? We want to hear your tips—what has worked for you and what hasn’t?
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