What Goes On In A Millenial Mind?
For most millenials, digital tech has always, or almost always, been a part of life. Millenials lived through 9/11 and several international conflicts. And many came of age as the real estate bubble burst and the country’s economy went downhill.
According to a new study of millennial priorities, spending habits and preferences done byPinpoint Market Research, we can see how much of a consumer your average millenial is.
One thing Pinpoint did not is that millenials more more careful with money.
“In fact, their view on personal finances sounds more like the Boomer generation emerging from the Great Depression than the ‘entitlement’ label they keep hearing,” the study said. But “despite their frugality, millennials are expected to spend money on lifestyle and entertainment more than prior generations.”
They’re also digital natives who are comfortable with using multiple channels.
“Brands need to be able to engage and respond in a matter of minutes, not hours,” notes the study.
Pinpoint also found that since this generation knows the power of their dollars, they use it to pressure brands to advance social causes.
“Twenty-somethings understand their power as consumers, as workers and as future leaders,” Pinpoint said.