Information coming out from newer surveys is painting a picture of today’s Millennial that is a bit different from how Millennials have been described in the recent past. Often described as the lazy, narcissistic, tech introverts; more current data is showing they’re not so different from the population as a whole when it comes to retail spending. And that as we’d suspect, their perceived failure to launch into the traditional timeframe for life markers like marriage and kids, have impacted some key spending categories like real estate and transportation; but have also buoyed retail categories like travel and entertainment. 30’s are the new 20’s!Read More
What do NBC, Intel and Alka-Seltzer have in common? Bet you hear their sonic branding in your head as you read the names. The NBC chime, the Intel start-up noise and the Alka-Seltzer fizz and plop are synonymous with these massive brands. Sonic branding could be right for you, too.Read More
Back to College. Yep, it's that time of year where retailers are gearing up for another pocket book battle royal. If you're not already planning or executing your attack, time to get on it! From NRF's Back to School Headquarters, nearly 60% will start shopping a month or two before class starts.Read More
That’s not just a blanket statement on the characterization of Millennials and binge drinking or being overly social, spending all their money at bars and restaurants – it’s a statistical outcome from a Wine Market Council report shared in USA Today.
This particular study portraying the 21-38 year old Millennial, reported that 42% of all wine in the U.S. last year was drunk by 21-38 year olds. More than any other generation! From the 79 million aged 21 to 38, they drank an average of two cases per person.
Additionally, Nielsen data shows the average retail cost of a bottle of wine was $7.81 in 2015. The study found a full 17% of millennials had shelled out over $20 for a bottle of wine in the past month. Among all age groups, that number was just 10%.
So not only are they drinking more quality wine than other age groups, a number of them are moving beyond the Two Buck Chuck.Read More
As traditional TV viewership continues its decline with Millennials, radio has surged ahead.
For Millennials, the move to streaming has significantly impacted the time spent viewing. As presented in the Business Insider visual below, Nielsen data shows that TV viewing by 18-24-year-olds was down by about 9.5% year-over-year and has fallen by about 34% between 2011 and 2015. Older Millennials (25-34) saw about a 6.5% decrease year-over-year and about a 22.5% drop from 2011 to 2015.
The opposite is true when looking at radio where AQH persons increased nearly 10.5% from Feb 2015 to Feb 2016. Radio continues to surge ahead as the #1 reach medium across all key demos.Read More
Are they getting their license a little later – yes, some are.
Are they on-board with ride share services? Yes – they’re cool with things that are largely enabled by mobile.
Do they prefer public transportation – yes, but really only if they live in the metro and your city has an extensive system
So are they ever going to get in the car game? Yes, right now! And they’re quickly becoming the largest target consumer for auto dealers. A study, shared in this NBC News article and conducted by Princeton Survey Research Associates, found that about 24 percent of Millennials, aged 18 to 29, said they will buy a car sometime during the next 12 months. And that figure slipped to 20 percent of those between 30 and 49, and falls to 10% among those aged 50 to 64.Read More