Nailing down the habits and desires of millennials can be tough for a marketer, but it can be done, provided you find the right materials needed to get an idea of what they’re looking for.
The Washington Post recently published a report breaking down what millennials want – and don’t want – through eight general bullet points, which, in some ways, also compare with certain needs that came from their parents years ago as well. The full article can be found here, but we broke down some of the points below:
First off, millennials are into cheap goods, and not necessarily large items, such as a house. “The millennial generation cares more about price than quality, at least compared to prior generations,” reads the report. “Yes, quality is still important, but given that they have lower incomes and more debt, cost is an especially big consideration for many millennials.”
Millennials also have a thing for health, with eating right playing a bigger part over Gen X and Baby Boomers. However, getting a television isn’t, oddly enough. “It shouldn’t be too much of a surprise that only three in 20 millennials think it’s really important to own a television,” the report states. “Millennials have grown accustomed to consuming media on their laptop screens, tablets and smartphones. millennials may still love cable TV and movies, but they want to watch it on the small(er) screen.”
With health being of importance, athletic gear is also in demand, particularly with athletic apparel and footwear, according to the report. So, of course, vehicles, like cars, aren’t on the “hot” list, as nearly a third of millennials don’t feel the need to purchase a car. “Millennials are gravitating toward cities, where they can use public transit, car-sharing services, Uber, taxis, bicycles and their feet to get around. Helps with the health kick, too.”
As you may expect, social media is in huge demand with millennials. “Everybody knows that Millennials are the Facebook generation. But it’s not just about staying connected with friends. Millennials look to social media to make decisions about brands they want to buy. That’s a wake-up call for companies still searching for strategies to reach people between the ages of 15 and 35,” says the report.
So what’s the final thing that isn’t on their list A luxury bag, of all things. As only ten percent of those millennials polled believe that it’s important, but not a big priority. 30 percent said they might purchase it if they really need it, but it’s indifferent otherwise.
