Millennial Marketing Statistics

Introduction

Millennial marketing statistics: Millennial marketing is based on the demographic’s segmentation of the people. People from Gen X and Gen Z have totally different tastes in each and every factor in the market. Therefore, companies need to formulate strategies according to the age group. In these millennial marketing statistics, we will understand the concept along with some concepts to understand the strategies to be implemented for the Gen Z population. Moreover, millennial marketing statistics with recent data have been also mentioned. Some charts and graphs are included along with these statistics to gain more insight.

Millennial Marketing Statistics (Editor’s Choice)

• 84% of the population believe in recommendations from family.
• In the United States of America, around 85.8% of adults use the internet on other electronic devices while watching television.
• 33% of the Gen Z population do not prefer advertisements on their browsers, therefore they use ad blockers.
• 72% of millennials prefer customized advertisements to general ads.
• 51% of the Gen Z population uses social media to pass the time. On the other hand, some millennials are interested in breaking news resulting in 43%. Whereas, 61% of millennials use social media networking sites to communicate with their friends and family.
• 90% of the millennial population have a habit of making sudden purchases without looking at the reviews.
• The maximum percentage who read newspapers is baby boomers resulting in 48%. 32% and 20% are allotted for Gen X people and millennials.
• 58% of the population from Gen Z watch advertisements to support their influencers.
• 77% of the younger generation believe that economy has affected their ability to save and spend the money.

What Is Millennial Marketing?

Millennial marketing can be referred to as different ways of marketing according to the age group of the people born between 1981 to 1996. These people are currently between the age of 25 to 40. There could be some additional number of populations who are born between the years 1980 to 2000. They are still called millennials. As seen in the earlier years, the trends in the markets are changing continuously and it depends on the age of the people to determine such trends.

(Source: Appliedpsychologydegree.usc.edu)

The above graphic clarifies the generations more easily by showing that people from the age group of 18 to 29 are called millennials. Whereas people from the age group of 30 to 49 years are referred to as generation X. And the population the age with and onwards are baby boomers.

Strategies of Millennial Marketing (Gen Z)

Today’s generation has been impacted by technological developments. Therefore, the mindset differs from other generations, and marketing strategies affect the decision-making process of the customer in Gen Z. Following are some strategies to understand current generation trends.

• Understand the current generation with emotions. As they are very prone to sudden changes in behavior with nominal changes in the market.
• Using social media marketing to impress the Gen Z population is the most crucial step.
• Being active and creating authentic content on social media is like the icing on the cake.
• Today’s generation prefers engaging content loaded with visuals which increases their attention.
• Persuading today’s generation to buy a product or service is difficult, therefore it is important to connect with them with intention rather than only for promotional means.
• The Gen Z generation gets influenced by their influencers on social media. Therefore, collaborating with such people can increase the awareness.
• Using technology in strategies will have a more positive impact on the millennial population.

General Millennial Marketing Statistics

The millennial population is the one who is keeping companies competing with each other. Expectations from Gen Y and Gen z are different, but the Gen Z category has more dynamic trends changing every now and then. Following are some millennial marketing statistics from around the world.

• In the United States of America, around 85.8% of adults use the internet on other electronic devices while watching television. (Source: Review42)
• People who use other devices while watching TV are of age between 26 to 36 years. (Source: Review42)
• Around 97% of millennials have a habit of analyzing the reviews of products or services before purchase, whereas only 87% have faith in such online reviews.(Source: Review42)
• Talking in numbers, 8 people out of 10 do not prefer to make a new purchase before reading online reviews. (Source: Review42)
• 70% of the population in the millennial age group trust recommendations from friends.(Source: Review42)
• Whereas 84% of the population believe in recommendations from family.(Source: Review42)
• The younger generation is influenced 40% by their influencers on social media networks. (Source: Review42)
• Instagram has around 42% of the influencers aged from 18 years to 24 years.(Source: Review42)
• Around 70% of millennials believe in marketing performed by means of YouTube.(Source: Review42)
• In the United States of America, around 89% of millennials are active on social media networking sites every day. (Source: USC)
• Around the world, businesses that have existed on the internet are preferred by 38% of millennials. (Source: 99 Firms)
• Almost everyone in the Gen Z population is using the internet and search engines to find new products. (Source: 99Firms)
• On average millennial users can pay attention to the content for 12 seconds.
• The most preferred visual type is short videos.
• 33% of the Gen Z population do not prefer advertisements on their browsers, therefore they use ad blockers.

• As the above chart shows, the recent generation prefers to purchase online as it is faster and easier added by more efficient functionality added by 58% and 57% for each segment.
• 73% of the younger generation use mobile phones for online shopping
• It has been observed that around 80% of the people shifted to local shopping from small-scale sellers after the pandemic period

• The above graph shows that among millennials Snapchat is the most used social media application followed by TikTok and YouTube at the percentage of 100%, 91%, and 87% respectively. Whereas Instagram has 83% of the population and Twitter and Facebook share the same percentage at 71%
• 72% of millennials prefer customized advertisements to general ads
• Around the world, 70% of millennials trust those brands that make videos of the product
• According to the studies, 51% of the Gen Z population uses social media to pass the time. On the other hand, some millennials are interested in breaking news resulting in 43%. Whereas 61% of millennials use social media networking sites to communicate with their friends and family.
• Trends are spread through social media sites, and around 47% of the Gen Z population use it to get informed about it
• 68% of the millennials believe in a seamless and integrated platform on the internet
• 90% of the millennial population have a habit of making sudden purchases without looking at the reviews
• 42% of Millennial own houses by the age of 30. Whereas Gen X people result in the same at 48%.
• 86% of millennials spend their holiday gifts more than estimated

• In the above chart, the tablet is preferred by every generation but at a different level. The studies that, tablet is used by millennials 50%. Generation X and baby boomers including people more than 65 years are calculated at 57%, 37%, and 32% respectively.
• Laptops or PCs are the most used equipment around the world for work and study purposes. Gen X and millennials are using it at 81% and 78% calculated for each generation. And people from the age group of 50 to 64 years, out of which 70% are using laptops and PCs. And population above 65 years, out of which 55% of them are using such devices
• Smartphones being the most common and handy electronic device are being used by 85% of the millennials. Whereas 79% and 54% go to Gen X and baby boomers. The population above 65 is also using smartphones resulting in 27%
• On the other hand, when it comes to magazine reading and newspaper, in the United States of America magazine is preferred by 31% of the millennials. Whereas 35% of the Gen X population and 33% of the baby boomers are reading it.
• Newspapers are also a part of the reading material but in an offline mode (without any electronic devices). The maximum percentage who read newspapers is baby boomers resulting in 48%. 32% and 20% are allotted for Gen X people and millennials.

Using social media following graphic explains the usage by generations

(Source: appliedpsychologydegree.usc.edu)

• 80% of the millennial population believe that advertisements are necessary for brand awareness.
• 58% of the population from Gen Z watch advertisements to support their influencers.
• Whereas 46% of the millennials don’t have any say about ads.
• Around 44% of the millennials prefer promoting the products in return for monetary benefits.
• 47% of the Gen Z population believe social media networks lead them to the shopping sites.
• Around 57% of the younger generation compare prices of the product or services online vs offline before making any purchase decision.
• 77% of the younger generation believe that economy has affected their ability to save and spend the money.
• In the United States of America, around 77% of people connect with brands using social media networking sites.
• Around 15% of millennials believe that owning a car is their first priority. On the other hand, 25% look at it as a need but not a priority.
• In the United States of America, around 91% of millennials prefer brands that have been connected to some cause.
• Considering spending habits, baby boomers have a habit of spending money on health care services, reading materials, and personal care products.
• Generation X spends their income on pensions, entertainment, holidays, and insurance.
• And on the other hand, millennials have a wide range of tastes to spend their income on education, transportation, entertainment, vacations, shopping and drinking, and eating habits.
• The group of millennials in the United States of America is reported to be spending $600 billion per year on various things.
• The purchasing power of millennials around the world is reported at $1.4 trillion.
• Around 60% of millennials tend to increase their loyalty toward a brand if they are satisfied with their services.
• Around 34% of the population in all generation increased shifted their purchasing preferences to online after the pandemic period.
• Around 60% of the millennials stated that they have been purchasing the product or services from the same brand over the last 10 and more years.
• In the United States of America, around 54% of baby boomers use Instagram to manage their social life.
• The younger generation is believed to open a message from any brand within 90 seconds of its delivery but might not reply immediately or do not care to reply at all.

Conclusion

As seen above in the Millennial marketing statistics even though countries are different, the behavior of the gen Z people i.e. millennial population is almost the same. In this regard, companies are required to make strong millennial marketing strategies to attract old and younger generations. Moreover, today’s generation is crazy about technology. Whatever they need, they will instantly search on the internet, and then if no results are found they will refer to any other person. Therefore, it is beneficial when companies involve technological functions in their marketing activities. Considering the minds of the millennials This millennial generation is the future of companies. Thus, even though it is difficult to persuade these minds, is it crucial to understand the markets and their trends.

Barry Elad

Barry is a lover of everything technology. Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.