Millennials’ is not just another word for ‘kids today’. The term refers to people born between 1981 and 1996 - so the oldest are in their mid-thirties. Do the stereotypes of the ‘me generation’ hold water? Global Web Index surveyed 52,871 millennials to find out.
1. Are they very cosmopolitan?
This one’s true - millennials are 12% more likely than the average internet user to express interest in other countries, cultures, and lifestyles, and 23% more likely to go abroad every six months. Three-quarters believe it’s important to stay in touch with what’s happening in the world, and half regularly try foods from other countries.
2. Are they financially illiterate?
While millennials are more comfortable borrowing money, this stereotype is largely untrue. Millennials are the most proactive investors - 52% invest. They’re also the most positive about the global economy, and roughly 1/2 say money is the best measure of success.
3. Are they all fitness fanatics?
Yes - but so are the rest of us. All generations are about equally conscious of their health and appearance. However, millennials are the healthiest shoppers, with ⅔ aiming to buy natural and organic, and 60% willing to pay more for eco-friendly products. They drink much less than their elders, and younger millennials are the biggest gym buffs.
4. Are they narcissistic?
Aren’t we all? While 7 in 10 millennials like to look after their appearance, that’s consistent across all generations - and 47% of both millennials and Gen Z like to stand out from the crowd. However, millennials are the most likely group to have bought make-up, cosmetics, skincare products, exfoliating products, and general beauty products in the last month.
5. Are they anti-advertising?
This one’s pretty valid - millennials are the most likely to use an ad-blocker nearly every day. 50% think there are too many ads on the internet. They also block ads that are annoying and irrelevant (46%), or intrusive (44%) but only 23% object to ads being personalised based on their browsing histories - so thoughtfully tailored ads are the way to reach a millennial audience.
6. Are they less engaged with brands?
Far from it - in the last month, millennials are most likely to have interacted with a brand on a messaging app, shared a brand’s post on a social network, uploaded a photo or video to a brand’s social network page, or used a company’s live chat service. However,
60% value a unique experience more than a status brand name, while 54% care more about price.
So while some millennial stereotypes might hold a kernel of truth, they’re far from the whole story. If you want to market to this generation, you need to appreciate them for who they are.