Loosely defined as the group of people born between 1981 and 1996, millennials already outnumber Baby Boomers. Regardless of whether you love or hate Generation Me, millennials are currently one of the world’s most powerful consumer groups.
For that reason, we’ve prepared these vital millennial marketing statistics to help you adjust (or completely overhaul) your strategy to cater to the generation that feels at home with digital technologies and social media. So, read on and learn all about it.
Millennial Marketing Statistics (Editor’s Choice)
- Millennials make over 25% of all US consumers.
- Almost every US millennial owns a smartphone and is connected to the internet.
- 84% of millennials don’t trust traditional marketing.
- Millennials spend $600 billion every year.
- 90% of millennials are active on Facebook.
- Millennials spend more than 11 hours a day on digital devices.
- 96% of millennials make an impulse purchase every month.
- 75% of millennials prefer written communication with companies.
Millennial Marketing Trends
1. 90% of millennials are active on social networks.
Nine out of 10 millennials are active on social networks. What’s more, the generation is also responsible for creating them — Facebook founder Mark Zuckerberg is a millennial who invented the world’s biggest social network.
2. Every millennial has a smartphone.
Millennial marketing stats say that all millennials own a smartphone and are connected to the internet. While according to MediaKix, 100% of millennials have a mobile phone, Pew Research Center puts that number at 92%. Either way, it seems that at least 9 out of 10 millennials have a smartphone with an internet connection.
(MediaKix / Pew)
3. Around 84% of millennials don’t trust traditional marketing.
Millennial marketing trends show that more than 8 in 10 in this age group hate seeing the standard commercials on television and radio. This means that if a company wants to get the attention of millennials, it needs to come up with something more creative and preferably personalized.
4. For 84% of millennials, the opinion of common people on a company’s profile page can make them form a decision to buy.
This is a very important topic for all marketers. Creating a campaign where the main target group is millennials must be done properly. Marketing to millennials statistics suggest that it’s much more important to create a space where customers will talk about their experience. This is set to make 84% of millennials form an opinion on whether to buy a product from the company.
5. Nearly 80% of millennials would pay for brand loyalty programs.
Around 77% of millennials are ready to pay and enter the loyalty program of a brand they love, according to millennials marketing statistics. By comparison, 61% of Gen X feel the same. People doing this expect better offers, gifts, and special deals that are going to be tailored just for them.
6. 70% of millennials and Generation Z follow influencers on social media.
Seven out of 10 millennials and the generation succeeding them follow at least one person that is considered an influencer. At the same time, 50% of millennials say that they trust influencers that promote brands and consider buying because of them, according to influencer marketing statistics about millennials.
7. 78% of millennials think ads are necessary for brands.
Almost 80% of millennials think that brands must advertise their products. This is something that this age group sees as a necessary evil. On top of this, 46% say that ads don’t bother them at all.
8. 44% of millennials are going to promote products on social media for free gifts.
With millennials practically living on social platforms, it is not strange for them to advertise brands and products, especially in exchange for something free. Social media marketing millennials statistics show that almost half of this age group are going to do that if given the option.
9. Millennials are 247% more likely to be influenced by blogs than company experts.
Marketing to millennials should steer clear of traditional ads. That generation wants to see what ordinary people have to say about a certain issue, and are more likely to be influenced by a blog, or a social network post than an expert working for the company, according to millennial marketing statistics research.
10. 68% of millennials use a second screen.
What does this mean? While a millennial watches television and there’s an ad on half-time of their favorite sports match, they’re looking at their smartphone, tablet, or laptop. This is why half-time ads on Super Bowl going through the roof are probably going to drop dramatically in the future due to such millennial trends.
11. AdBlocker is being used by 37% of millennials.
Millennial marketing trends show that adblocking methods are being used by 37% of this age group. According to Statista, the younger generations rely on that method a lot more and they are about to break the number of 50% very soon.
12. 57% of millennials say they made an unplanned purchase because of a social network ad.
More than half of them say that they’ve made an unplanned purchase because they saw a product they like on a social network. Millennial consumer trends meanwhile show that 55% have experienced what is known as FOMO (fear of missing out).
13. 59% of millennials are active on Instagram.
Millennial Instagram marketing statistics show that 59% of Americans in that age group are active on this network. Instagram influencers meanwhile are responsible for a lot of online shopping, bridging the gap between companies and consumers.
14. Just over a third of millennials prefer internet videos to traditional television.
Research by YouTube and Comscore signals that millennials prefer internet media over traditional television. Precisely, 35% of those questioned said that they prefer watching videos on YouTube, with only 19% favoring traditional television.
15. 75% of millennials prefer SMS communication for surveys, promotions, and deliveries.
Millennials prefer SMS communication over phone calls when dealing with brands. SMS marketing and millennials statistics further show that this age group is going to open the SMS within 90 seconds but that doesn’t mean they’re going to instantly respond or take action.
16. 40% of retail companies think millennials are not loyal.
As much as 40% of the retail companies are convinced that millennials are bad customers because they are not loyal toward a brand. This is not entirely true but rather shows that businesses still have a lot to learn about the millennial target market. Millennial marketing statistics show that 80% of the millennials will be loyal to a brand if they fall in love with it. It’s not easy satisfying the millennials but once you have their attention, it’s there to stay.
17. Millennials spend over $500 on Christmas holidays.
The average American spends around $700 on gifts during the whole year, but millennials get almost the full amount around Christmas only. According to American Express’s millennials shopping statistics, 84% of that generation overspend for gifts during the weekends.
18. 96% of millennials make an impulse purchase each month.
One of the millennials marketing facts is that almost every individual from this group is going to spend an average of $71 every month on unplanned purchases. Millennials are known for their impulsive spending habits triggered by something that caught their eye.
19. One in three millennials would spend more than $5k on travel.
Millennials are leading all generations in the desire to travel. This generation has no problem spending more than $5,000 on vacationing, according to millennial spending statistics. Also, they are the ones who travel the most among other age groups with an average of 35 days each year.
20. 34% of millennials are more likely to make an unplanned purchase if the product is personalized.
Millennials like to see something different from the ordinary. Millennial marketing statistics show that 34% of them will make an unplanned purchase if the product being sold is at least somewhat personalized.
21. 75% of millennials prefer spending money on experiences rather than items.
Millennial consumer statistics show that around 3 in 4 millennials prefer splurging on things that will create memories than items that will eventually get old or lost. They prefer creating memories and enjoying life more than having the perfect bread cooker.
What is millennial marketing?
This is marketing targeting consumers born between 1981 and 1996 (or the beginning of the new millennium, by some definitions). Advertising to millennials differs from traditional marketing by employing strategies such as loyalty programs, engagement with customers, advertising on social media, offering personalized products, etc. Millennials grew up with the rise of technology, computers, and the internet which is why it doesn’t respond well to more traditional advertising.
How do millennials advertise?
Millennials are known for their passion for creating content online. Finding a brand that they love is a perfect opportunity for them to tell everyone about it. Companies can benefit a lot from millennial advertising if they manage to engage this age group. Creating a product that millennials love means getting a lot of social media buzz.
Are millennials the biggest consumers?
Yes, millennials are currently the biggest group of consumers. They make more than one-fourth of the entire US population. While at some point they will be overtaken by Generation Z, their purchasing and consumer power is currently undisputed.
All millennial marketing statistics conclusively show that marketers need to develop new strategies if they want to target this powerful consumer demographic. While it’s not easy to get them to like your brand, if you do manage to accomplish that, the potential benefits will have been worth the effort.