There are many terms coined for millennials. The most popular of which is Generation “ME”, a term that somehow attaches a subtext on self-love or giving too much focus on themselves. Such generalization is not only unfair to millennials but also to marketers who seriously want to get to know this generation.
“The emphasis on millennials carries further significance for a country such as the Philippines which has one of the youngest populations in the world,” says Stuart Jamieson, managing director of Nielsen Philippines.
In the Philippines, millennials make up the biggest share of the population at 36% compared to baby boomers (50-64 years old) who only comprise 12%. Born between 1980 to 2000, millennials are foreseen to boost consumer consumption because of the influence that they are starting to wield in the households (Chart 1).
To give a comprehensive understanding of millennials, Nielsen explores the behavior and attitudes of this group based on Consumer Media View and Cross-platform report. These discoveries dismiss the common misconceptions about this generation and reveal what makes them truly unique.
“Just as millennials are distinct from other generations, millennials have their own subgroup,” clarifies Jamieson. “Foremost in understanding millennials is to view them as two subgroups and then to look closely at the difference in circumstances or period where they were born into and the distinction in life stages that they are in now. Older millennials (born 1980-1990, make up 15% of Philippine population) are in a different life stage, and have dissimilar views and priorities from younger millennials (born 1990-2000, comprise 21% of the population),”advises Jamieson.
Younger millennials are more likely students or newly out of college and are living at home (60%), whereas the older group is more established in their careers starting families.
1. Rising force
Older millennials are now in the life stage wherein they are starting to have a stronger voice in the household, In fact, they are running the household, with 64% of them married and 67% of them have children. It follows then that 34% older millennials are now the chief income earners, 32% are chief decision makers, 46% are the chief grocery buyers in their homes.
So what influences the buying decisions of millennials? Similar to Gen Xers, millennials (71%) feel that advertising affects their purchase decisions, while other age groups are markedly less inclined to do so. Millennials (67%) and GenExers (64%) claim that a catchy ad can make them try a new product.
More millennials (38%) regard internet advertising as a positive as they can readily follow the links for products.
As with other age groups, millennials (76%) feel that celebrities/celebrity endorsers can influence their purchase decisions.
2. On the move
In spending their time out of the house, they prefer going to the mall to shop (53%) or window shop (45%).
Eating on-the-go is prevalent among millennials with more of them tending to eat fast food (84%) and stopping by food kiosks/convenience stores to eat (41%), compared to other age groups in the past 4 weeks.
3. Connected curators of information
Older millennials were the first adopters of technology while younger millennials are born into technology. Younger millennials will never know a world without the internet, connected devices, and social media.
Across all age groups, more millennials (74%) say they like to keep up with developments in technology, with younger millennials keener to do this (78%) than the older millennials (69%).
According to the Cross-Platform report, 86% of older millennials claim that they use a smartphone, versus 83% of heavy internet users. Although they love their mobile phones, millennials are not loyal to it. More than half of millennials claim that they dual screen daily while 36% say that they triple screen every day.
The availability of connected devices feeds into the desire of millennials to be the ‘first to know’. Compared to other age groups, younger millennials (82%) are the ones most likely to look at the internet first whenever they need information. Younger millennials (60%) claim that they are among the first among their friends to know what’s going on.
Millennials are just as comfortable uploading their own content such as pictures (35%), as they are with downloading these (24%). Other age groups are not as apt to either post or download anything online.
Younger millennials are the ones most likely to have used the internet in the past month (84%) compared to other age groups. Older millennials (60%) fall in after the youngest group, Gen Zs (69%) in terms of internet use. Aside from getting information, young and old millennial (74%) say that they watch internet TV, compared to 71% of heavy internet users.
“While millennials are comfortable using digital media, they relish and consume traditional media alongside it. They can adapt and mold communication tools and means to their needs and circumstances” observes Jamieson. “Visual messages can appeal as much as words do. Many millennials still read print media, even as they also watch TV and go online for information and leisure.”
Generally, close to 10-in-10 millennials (99%) count watching television as a top leisure activity and many millennials consider themselves to be “TV Addicts” (98%).
The Cross-Platform report shows that millennials are most likely to browse through online newspapers, with older millennials showing a high preference in reading printed newspapers at 72% compared to 66% of heavy internet users.
Radio remains a popular medium for millennials with almost eight in 10 of older millennials saying that they tune in to the radio compared to 72% of heavy internet users.
4. Social butterflies—offline and online
Millennials are socially-inclined and this manifests in their personal and work lives in the premium that they place on spending time with friends.
More than any other age group, millennials (90%) tend to agree with the statement that they like having close friends to support them through hard times.
At work, just like GenXers (73%) majority of millennials (76%), say they prefer to work as part of a team rather than alone.
With this tech-savvy generation, heavy engagement in social media is expected. Compared to other age groups, millennials (72%)—especially the younger millennials (82%)—have the greatest propensity to go to social networking and microblogging sites like Facebook. Catching up with friends and family online via email (41%) and chat (39%) are most prevalent among millennials versus other age groups.
“Comfortable with technology than most generations, millennials like and can readily share moments of their lives with friends and family online,” says Jamieson. “To reach millennials, engage with them in social media.”
5. Optimistic and ambitious
Looking at educational attainment, older millennials are poised for success as the greatest proportion of them (over one-fifth) have completed college, compared to older generations. Millennials are similar to Gen Xers (94%) in the sense that they most likely to want to own a business someday.
Compared to every other age group, millennials (42%) tend to do things at the spur of the moment with most (92%) believing that one should seize opportunities in life when they arise.
The optimism extends to feelings about the country. Millennials (74%), similar to Gen Xers (71%), are optimistic for the future and think that their country is still heading in the right direction.
6. They care
Social responsibility is also a significant consideration among older millennials. They manifest this in their shopping behavior. Older millennials predominantly prefer shopping where bags are eco-friendly (91%), higher than any other age group. They also show preference to shop at establishments that give something back to the community or society (88%).
Older millennials and GenExers (70%), make up the groups that are most prepared to pay more for environmental-friendly products.
“In relating to millennials, you have to engage them in a dialogue because they want their voices to be heard. The conversation with them should be relevant, personal, and authentic. As an example, it is important to show millennials the sincerity of a company when it talks about social issues with them,” Jamieson recommends. “If you are able to win their hearts, this generation is your perfect group of ambassadors because they are very social—online and offline. Make your stories visual and easy for them to share,” Jamieson concludes.
This article was first published on the May-June 2015 issue of adobo magazine.
