Who are the Millennials?

Who are the Millennials?

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  Millennials Meet the generationof highly mobile-centric, self-confident shoppers
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  2 #1 /Who arethe Millennials?
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  Millennials Who are theMillennials? *Coca-Cola Journey, A Power Force: Why Millennials Are The next Wave of Dominant Global Consumers, 26 June 2013 **Retail Leader, Millennials’ Spending Power To Increase by 2017 Aged between 18 and 33 Will earn $200 billion annually starting in 2017** 52% of the world’s population is under 30* 70% come back to brands they prefer
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  Millennials Who are theMillennials? *Career, Want to Recruit Recent College Grads and Millennials? Here’s What You Need to Know, 12 June 2014 **Bruce Mayhew Consulting, Multigenerational Characteristics, 2014 ***Deseret News, 4 financial follies of the millennial generation, 10 September 2014 ****Money, 10 Things Millennials Won’t Spend Money On, 16 July 2014 *****Forbes, Boomers' Love/Loathe Relationship With Millennials, 06 February 2014 1st generation to speak tech as their native language* More open- minded than other generations** Understand the importance of higher education *** Environmen- tally conscious and self- confident ****
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  Millennials Who are theMillennials? *How stuff works, How Generation Me Works, http://people.howstuffworks.com/culture-traditions/generation-gaps/generation-me1.htm Mobile is an extension of their hands They communicate with the world via social media Reject tradition Want to be seen as individuals*
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  Millennials Diversity *SDL, Understanding GlobalMillennials, 2014 **Pew, Millennials skeptical, yet optimistic about the future, May 2014 Millennials are the most multicultural generation in the USA** 32% speak a non-English language at home* 46% are more likely to buy in their own language* Our research: 77% strongly agree that you shouldn’t judge someone based on their sexual orientation
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  Millennials Social media *UNC Kenan-FlaglerBusiness School, Maximizing Millennials, The Who and Why of Managing Gen Y **SDL, Understanding Global Millennials, 2014 Social media is by far the dominant way Millennials learn about things online 46% of Millennials share their data if it means more relevant offers** 43% have liked more than 20 brands on Facebook* Our research: 88% use Facebook, 54% use Instagram and 38% use Twitter
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  Millennials Mobile *Marketing Land, Survey:Best Way To Reach Millennials Is On Social Media, 15 July 2014 **The Detroit News, Edmunds.com launches online features to make mobile car shopping easier, 9 September 2014 ***SDL, Understanding Global Millennials, 2014 95% of Millennials (globally) own smartphones* and use it to buy things** They check their smartphones an average of 43 times per day* 60% think that it should be the same when dealing with a company whether you’re online, in a store, or on the phone***
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  Millennials Media *Wishpond, Marketing toMillennials: The How, The What and the Wherefore, 5 February 2014 **Videoink, Study Shows 75% of Millennials with Connected TVs Watch Netflix & YouTube, 8 October 2013 ***Hypebot.com, Millennials Use Music Apps More Often Than Any Other Age Group 90% skip ads when watching recorded TV shows* 75% use connected TVs to watch over-the- top content: Netflix, YouTube etc** Use mobile entertainment apps 75% more frequently than the other age groups****
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  Millennials Sustainability *The Guardian, Thedanger of stereotypical Millennials in sustainability, 22 August 2013 **World Economic Forum, The rise of the Millennials, 6 February 2013 73% believe that the company they work for is benefiting society in some way* 82% of global Millennials believe their generation can improve the world** Our research: 84% expect brands to make a positive contribution to society
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  11 #2 /Trends and analysis
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  –12 Immersive Playground Brand becomes aspirationalrelationship provider; Attractive, fun and engaging Sub trends: Mega 1 Mega 2 Mega 3 Mega 4 Millennials Mega Trends Beyond buying Play ethic Retro buzz ADD My Life, My Time, My Way Tranquility space Outside time & space Effortless health Authenticity Recession mind Peer/mentor community Goodness by Proxy Hidden Old & Young Luxury dilemma Diverse/inclusive society Local/Global, E/W Ultimate Lifestyle Time & health; Holistic concerns, a balance between faster and slower Hearts and Minds Skeptical consumers; Difficult but important to win their trust Uncertain Future More diverse and complex world; Need new ways to meet new challenges
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  –13 What is it? Metaphorabout attractive fun, exhilaration, engaging and meaningful journey over time rather than superficial engagement. Why has it emerged? Over-emphasis on speed, price; too many choices; natural desire for discovery and play; cool retro. How can brands respond? Brands can create an integrated meaningful landscape – attract consumer surprisingly, memorable, bring consumerism into an engaged playground over a longer period of time. Mega 1 Mega-trend Immersive Playground
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  Mega-trend Immersive Playground Research: Millennials wantbrands to give them more than a product. 80% of Millennials want brands to entertain them.* •53% of Millennials said that they use Facebook as a source of entertainment (Source: All Twitter, 4 Ways That Brands Can Appeal To Millennials On Social Media, 28 December 2013) They also want to be the part of an experience and be able to share it. Inventive brands, able to keep Millennials entertained, will win their hearts. Immersive Playground *Ad Age, Only 3% of Millennials Think Advertising Is Boring, 04 December 2012
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  How Have BrandsResponded? Bud Light’s - Up for Whatever Immersive Playground
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  Mega-trend Ultimate Lifestyle Mega 2 16 Whatis it? Time and health are two key words in people’s modern life. The ultimate lifestyle is a quality of time and balance between faster and slower. Why has it emerged? Time-pressed and stressed; less patient; suffer information overload; 24h scares; personal data mine; a click away from each other. How can brands respond? Help consumers make life easier and solve things faster, while still owning a balance of enjoyable slow ‘me-time’ for quality; provide a practical, smart and balanced approach to keep a holistic, healthy lifestyle.
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  Mega-trend Ultimate Lifestyle Research: Millennials aremore stressed than any other current living generation. It was reported that Millennials’ had a stress level of 5.4 out of 10 (when 3.6 is considered as healthy).* Millennials are growing up at a tough time. The economy collapsed just as many of them were getting out of college and coming of age. This has led to a greater sense of stress. They were sheltered in many ways, with a lot of high expectations for what they should achieve. •46% of Millennials are currently unemployed, 49% of them have taken a job they didn’t want just to pay the bills, and only 30% of the same age group see their current job as a career (Source: Mintel, You're Gonna be Great, 02 August 2012) *CBSNEWS, Millennials are the most stressed generation, survey finds, 11 February 2013 Ultimate Lifestyle
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  How Have BrandsResponded? Always – Like A Girl Ultimate Lifestyle
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  Mega-trend Hearts and Minds Mega3 –19 What is it? Ongoing success depends on winning consumers’ hearts. It takes effort and time, and generates huge value, but can be easily lost. Why has it emerged? Product recalls, questionable claims; consumer critics online; they do homework and expect proof before buy – can explore on the go; skeptic consumers How can brands respond? Brands now need get into consumers mind, understand how they think, win their trust by showing how the brand works, and provide added value and benefits at the same time to reach their expectations.
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  Mega-trend Hearts and Minds Research: •51%of Millennials like it when a company reaches out to them and it’s NOT just about selling a product. Social media is by far the dominant way Millennials learn about things online and it is an opportunity for brands to win their hearts. •49% of Millennials discover new and interesting content on Facebook, 29% on Twitter and 27% using a search engine.* •71% of Millennials want brands to be environmentally friendly and ethical, while 61% want them to connect with a cause or social issue (Source: The Guardian, Young consumers hold the key to sustainable brands, 18 April 2013) Hearts & Minds *Marketing Land, Survey: Best Way To Reach Millennials Is On Social Media, 15 July 2014
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  How Have BrandsResponded? BMW – The Ecoist Hearts & Minds
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  Mega-trend Uncertain Future Mega 4 –22 Whatis it? The world has become more complicated and connected, and also emerges more opportunities to be discovered. The traditional consumer demographics have been changed. Why has it emerged? Aging society; Generation Next; local vs. global; east meets west; rise of singlehood, young parents etc. How can brands respond? Brands now are standing in front of uncertain goldmines, in which they need to find a new and innovative way to target right consumers and face uncertainty.
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  Mega-trend Uncertain Future Uncertain Future Research: Millennials grewup feeling that the future is uncertain and 61% of Millennials are worried about the future of the world.* They have witnessed the demise of an older generation who worked hard and were poorly rewarded in return. Millennials understand that they have to stand out to be noticed, but for them it is about working smarter rather than harder.* •56% of Millennials think that they will be able to get a better job if they go to university, but it is more about flexible rather than traditional education.** Millennials adjust to an uncertain future by bending the rules rather than making traditional choices. That approach can be noticed everywhere from work choices to planning a family. *The Gen-Y Advantage: How Millennials think differently than previous generations, 21 February 2014 **Mintel, Lifestyles of Young Adults - UK, November 2013,
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  How Have BrandsResponded? Barclays - LifeSkills Uncertain Future
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  Millennials Summary Mobile first Help them to abetter future Social Media first Reward individuality
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  ISO 9001 The ImaginationGroup Limited became registered to ISO 9001in 2002 and continues to be committed to benchmarking its performance against the highest standards available. The Imagination Group Limited has an established and mapped core process system. This includes all aspects of the company’s activities, backed by internal policy and procedures reference documentation. This system is currently used on a company-wide basis to ensure the smooth running of all projects, the delivery of customer satisfaction and the building of strong client relationships. The Imagination Group Limited project management process starts with the development of the initial brief and continues through 32 identified steps until project completion. Clients are encouraged at every stage to participate, review and comment on all aspects of the project prior to work being completed. In this way, we ensure that safeguards are in place to facilitate innovative yet practical creative solutions, focused communication and consistently high levels of client satisfaction. Imagination projects involve a full debriefing, again encouraging clients to participate and voice their opinions and thus contributing to continual improvement. ISO 14001 The Imagination Group Limited subscribes to the environmental management system EN ISO 14001:1996 to a degree appropriate to the nature and scale of its organisation and activities. Management and staff acknowledge the importance of preventing pollution, principally by identifying and working to minimise the environmental impact of the company’s offices, facilities and functions. The philosophy of re-using and recycling (as opposed to disposal) also informs our work for clients. We seek to optimise the resources utilised in communication, design and event management by adopting operational technologies and practices as required. We comply with all relevant legislation and standards; we look to sustain the continuous improvement of our performance by establishing and reviewing environmental targets on a regular basis. In addition to communicating this policy throughout our organisation, we actively solicit the support of clients, contractors and suppliers, working to raise awareness of our collective responsibility for the environment, and our quality of life. Q1 Both Imagination Europe Ltd and Imagination The Americas Inc were awarded Q1 supplier status by Ford Motor Company in 2004. The certification was granted after Imagination met rigorous performance and quality management criteria set out by Ford assessors. Q1 certification is recognised throughout the automotive and related industries. It is regarded as a symbol of excellence, customer satisfaction and consistent and continuing high quality. The certification is reviewed by Ford’s Q1 assessment team on an ongoing basis, to confirm that day-to-day performance continues to meet the required standards. Imagination Europe Ltd is the first marketing services supplier in Europe to obtain this status. Our Standards
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