PATTAYA — In his talk, “Circle of Trust” at the ADFEST 2015, Sidharth Loyal, Head of Strategy at Innocean Worldwide Australia talks about the new consumer—the Millennials.
“Millennials love brands that are purpose-driven,” said Sidharth.
According to Sidharth, these new consumers keep brands on their toes. They always have to let them know what’s in it for them, “Millennials are the most opinionated among generations. They sulk if you don’t listen.”
In the United States, millennials, those born between 1980 and the mid 2000s, form the largest generation. They represent one-third of the total U.S. population in 2013.
So much so that The White House released a report on the “15 Economic Facts about Millenials”. In this report, The Council of Economic Advisers takes an early look at this generation’s adult lives so far, how they fair in the labor market and how they organise their personal lives.
Studies also show that millennials are willing to pay for sustainable, for products that are for environmental and social change which is why more and more brands are pumping up their corporate social responsibility because social advocacy has also become the new currency.
Indeed, brands and marketers can no longer deny the rise of the millennials, “we can’t ignore them,” said Sidharth.
