|Millennials: Much Deeper Than Their Facebook Pages.|
Tuesday, 25th February 2014
It takes a lot to define a generation, and no two generations are alike;
As much of the world is watching the young adults in the second-youngest generation develop and become full-fledged consumers, marketers are placing more and more emphasis on how to engage with them. Most are children of Baby Boomers, and all are eager to carve out a unique identity as they come of age.
So who are they and why are marketers and brands getting to know them?
In the broadest of terms, they’re the young adults born between 1977 and 1995. From a numbers perspective, they are 77 million strong and make up as much of the U.S. population (24%) as Baby Boomers and Generation Z (those born after 1995).
It’s true they founded the social media movement, but they’re anything but couch potatoes. They’re still climbing the income ladder, but they make up the most educated generation, as 23 percent have a Bachelor’s degree or higher.
Current incomes range from $25,000 to $48,000 for younger (18-27) and older (28-36) Millennials, respectively, but they’re coming of age in the most dire economic climate since the Great Depression—making their families, communities and social networks even more valuable as they band together.