I came across an interesting study at millennialinc.com the other day—interesting because marketing to so-called “millennials” is one of our agency specialties, and interesting because my extended family is full of 20-somethings.
According to this research, I may not know my nephews as well as I thought. Three findings particularly caught my attention (and are somewhat surprising):
- What 20-somethings value most is, well, value. While I mistakenly thought they didn’t give much thought to their purchases beyond the “label,” they firmly believe in the quality of the products they select. In fact, “quality” (or the perception thereof) is the #1 trait of their favorite brand—and a full 89 percent of them are willing to pay more for a product they believe will last. What won’t they pay for? Celebrity endorsements: 66 percent of those surveyed wouldn’t use celebrities in their commercials.
- They’re not really all that green. Only 20 percent are concerned about how their lifestyle impacts the environment. So much for saving the planet…
- They’re really, really into change. While there’s no shocker there, consider this: the average 26 year old has had seven different jobs since age 18. (I’ve had five— and I’m way older than 26.) Their #1 reason for changing jobs? They “just needed a change.”
While some of what the study found wasn’t necessarily surprising—e.g., they’re into “innovation” and the collaborative sharing of ideas (think Social Media)—it did take an interesting approach to understanding the mindset behind millennial decision makers.
Do you have any 20-somethings in your life? Does this sound like them? Let us know!