CONSUMERS | Distinctive characteristics of the youngest millennials
1. Mobile First This first mobile generation is much more likely to use mobile than prior generations, and much less likely to be on a desktop computer. And while older generations used digital devices primarily for communication, the youngest millennials use them for relaxation.
Brand Implications Being mobile-first is critical.
2. Practical Members of this generation have experienced the realities of today’s India, the dramatic economic growth and the growing pains. They aspire, but are realistic about realizing their aspirations. Around 56 percent plan to live with their parents to save money, and about half want to earn supplemental income.
Brand Implications Products and services need to provide real value and the value needs to be communicated in a real way.
3. Empowered Technology empowers members of this generation to live their lives without some of the traditional restraints. Compared with earlier generations, this generation is 10 percent more likely to transact online to avoid standing in a queue. And 60 percent want to start their own venture.
Brand Implications Use the latest technology, such as virtual assistants, to create engaging, interactive, up-to-date, easy-to-use online experiences.
4. Entitled This generation has witnessed many Indian success stories—both on reality TV, and in actual reality. To members of this generation it seems possible to have it all. And many expect to. About a fifth say they have refused to accept a product ordered online because it did not meet their expectations.
Brand Implications Brands cannot compromise on quality, and they need to surpass expectations—and anticipate needs—to command a premium.
5. Visual These millennials have short attention spans and are impatient with advertising. They do watch video and are more drawn to visual images than to text. Time spent on Instagram is four time greater than time spent by earlier generations.
Brand Implications Brands need to communicate more often and with shorter messages delivered with interesting content and not with a hard sell.
6. Agnostic When it comes to searching and shopping, the youngest millennials are everywhere and anywhere. They are channel agnostic. Compared with earlier generations, they are 26 percent more likely to shop online.
Brand Implications Brands need to provide a seamless experience that is consistent across channels and makes moving among channels easy for the consumer
7. Healthy Compared with earlier generations, the youngest millennials are more likely to try and live a healthy life. Almost half are vegetarians compared with 43 percent of the older generation. And they are 65 percent less likely to consume alcohol and cigarettes.
Brand Implications This generation appreciates brands that balance taste with health and fitness with entertainment.
8. Nostalgic The youngest millennials are 20 percent more likely to listen to old film songs on the internet than earlier generations. And 60 percent prefer to return to vacation locations rather than visit new places.
Brand Implications Reminders of earlier, perhaps simpler times help create emotional connections with these consumers.
9. Relational The youngest millennials value relationships, but the nature of relationships is changing. They grew up at a time when the number of extended families in urban India declined 22 percent and the number of potential friends on Facebook expanded exponentially. They are comfortable with relationships based on equality and shared decision-making.
Brand Implications Brands will benefit from working collaboratively with these consumers.
Source: Kantar IMRB and TNS