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
Men are spending more time in the kitchen than ever before! Reported in a recent BLS American Time Use survey that about 43% of American men are cooking these days, which is the highest percentage in the past three decades. This trend is greatly influenced by more Millennials spending time in the kitchen.Read More
Recently, I came across a report titled “Reaching Consumers during the Purchase Process.” The study, conducted by Starcom MediaVest, basically looked to identify and attribute the impact of various media types in the purchase process, to help advertisers hone in on the most opportune times when consumers are receptive to particular messages, and what sequence of media channels should be used. Very heady stuff!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