Millennials in the U.S.

Apr 23, 2012
178 Pages - Pub ID: LA3867595
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On the surface, very little appears monolithic about adult Millennials (defined as those in the 18- to 29-year-old age group and also known as Gen-Y).  Millennials include full-time college students, late-20-somethings who have moved back to their parents’ home and married and unmarried couples with and without kids.  Gen-Y consumers encompass college grads with high-paying full-time jobs and credit cards and bank accounts as well as those struggling with low-paying part-time jobs.  They include a high-growth multicultural segment spearheaded by U.S.-born “fusionistas” who move effortlessly between their Latino heritage and the youth culture of America.

Yet, there are many generational ties that bind this diverse group of young consumers and differentiate them from older consumers.  To name just a few, they include a deep comfort with technology, heavy involvement in social media, a multitasking mentality,non-stop immersion with screens on cell phones, digital tablets and PCs,a shared preference for hip-hop music, and parents who act like friends as well as authority figures.  The challenge for marketers is to leverage this common ground to find Millennials whoever and wherever they are and engage them no matter what they are doing.

The report begins with an overview of the trends shaping the adult Millennial market, significant marketing opportunities and projections of market growth.  It continues with an analysis of the demographic characteristics and core values of today’s adult Millennials.  The next chapters of the report analyze how Millennials use financial services, including credit cards and banking services, and profile their shopping and spending patterns.  The report continues with an in-depth analysis of the media usage patterns of Millennials, which highlights what multitasking Millennials are doing when watching TV and emphasizes their involvement with second screens.  A chapter on the relationship between Millennials and technology covers their attitudes toward technology and their ownership and use of electronics such as digital tablets and cell phones.  The report ends with an analysis of the fashion and entertainment habits of Millennials.

Scope of the Market

This Packaged Facts report analyzes the consumer attitudes and behavior of 18- to 29-year-olds.  Those in this age group form the adult portion of the population group described as the “Millennial Generation” or “Generation Y” or ‘Gen-Y.”  This report uses the terms “Millennials” and “Gen-Y” interchangeably.  The report compares Millennials with Gen-X consumers (those in the 30- to 44-year-old age group) and consumers 45 years of age and older.

Methodology

This report is based on information collected from firms active in the Millennial market as well as a thorough analysis of relevant industry and trade publications.  U.S. Government data sources include the Census Bureau and Bureau of Labor Statistics Consumer Expenditure Survey. 

The principal sources of primary research data are the Summer 2011 Experian Simmons National Consumer Study (NCS), which was fielded between July 2010 and September 2011 and the Fall 2011 Experian Simmons NCS, which was fielded between October 2010 and November 2011.

 

 

Chapter 1: Executive Summary

Background

Introduction

Overview of the Report

Scope and Methodology

Scope of the Market

Methodology

Trends and Opportunities

Optimism Reigns among Millennials

Young College Grads Have Most Confidence in Their Futures

Generational Ties Mask Diversity of Lifestyles and Life Stages in Millennial Population

Younger Millennials’ Privacy Concerns Less of a Barrier to Marketers

Second-Screen Generation Creates Challenges and Opportunities for Marketers

Following the Money Will Lead Marketers to Older Millennials

Millennials on Campuses Today Set to Become Affluent Consumers of Tomorrow

Millennial “Fusionistas” Require New Marketing Strategies

Hip-Hop Culture Continues to Offer Marketing Platform

Millennials Key Segment in Home Electronics Market

Millennials Still Important to Auto Makers

Market Overview

22% of U.S. Adults Belong to Generation Y

Population of Older Millennials Projected to Grow at Faster Rate

Aggregate Income of Millennials Approaches $1 Trillion

25- to 29-Year-Olds with Full-Time Jobs Key Element of Adult Millennial Market

Adult Millennials Trail other Age Groups in Financial Clout

Aggregate Income of Gen-Y Adults Will Exceed $1 Trillion in 2016

Younger Millennial Market Segment Will Experience Slower Growth

Personal Profile of Gen-Y Adults

Gen-Y Adults at Distinct Life Stage

Gender Gap on Campuses Creates Educational Disparity between Gen-Y Women and Men

Part-Time Employment Hallmark of Younger Millennials

One in Four Millennials Lives in Household with Income of $100,000 or More

Most Millennials Live in Family Environment

Gen-Y Males Much More Likely to Boomerang Home to Parents

Marriage Makes Inroads on Life Styles of Older Millennials

Parents a Key Segment of Adult Millennial Population

New and Unconventional Things Appeal

Desire for Material Success Drives Gen-Y Adults

Millennials See Selves as Influencers

Religion Less Important to Gen-Y Adults

Conservatives Outnumber Liberals

Millennials and Money

One-Third of Gen-Y Adults Have or Use Credit Cards

Millennials Demonstrate Responsibility in Use of Credit Cards

Millennial Credit Card Users Display Distinct Characteristics

Younger Millennials More Apt to Use Debit Cards

Checking Accounts Sparse among Millennials

Online Banking Popular among Gen-Y Consumers

Older Millennials Begin to Accumulate Wealth

Older Gen-Y Consumers Like to Pay Bills Online

What Makes Gen-Y Shoppers Tick

Shopping a Form of Entertainment for Millennials

Friends Influence Where Younger Millennials Shop

Millennials on the Hunt for New Stores

Millennials Have Distinct Shopping Patterns

Frequent Gen-Y Shoppers Profiled

Online Sharing Sites Have Major Impact on Buying Decisions of Gen-Y Women

Millennials More Interested in Cell Phone Ads

Gen-Y Shoppers Compare Favorably with Consumers in 45+ Age Group

Millennials and the Media:  Decoding the Second-Screen Generation

Today’s Gen-Y Adults Grew Up Multitasking

Most Millennials Involved with Second Screen While Watching TV

Different Second Screens Have Different Audiences

Online TV Captures Attention of Younger Millennials

TV Maintains Hold on Millennials

Millennials Most Likely to Use Social Sharing Websites to Follow TV Shows

TV Commercials More Interesting to Millennials than They Are to Older Viewers

Millennial Women in Forefront of Social Media Revolution

Gen-Y Women Blog More than Any Other Consumer Segment

Radio Is Important to Millennials

Internet-Only Radio Popular with Gen-Y Listeners

Older Millennials More Likely to Turn to Online Versions of Print Media

Millennials and Technology

Youngest Millennials Can’t Do Without Gadgets

Online Activities of Millennials Differ Dramatically

iPods Part of Millennials’ Lifestyle

Millennials Show Less Interest in E-Readers

Younger Millennials Use Cell Phones as Information Source

Cell Phone Features Mean More to Younger Millennials

Unlimited Text Messaging Plans More Popular with Millennials

Millennials Dig Deep to Pay for Expensive Cell Phones

High Cell Phone Bills Part of Millennial Lifestyle

Gen-Y Consumer Highlights:  Fashion and Entertainment

Gen-Y Men Are Fashion-Forward

Latest Styles Attract Attention from Millennials

Millennials Enjoy Shopping for Clothes

New Clothes a Must for Millennials

Live Entertainment Events Attract Millennials

Younger Millennials Vital to Hollywood

Millennials Matter When a New Film Opens

Video Games Prime Entertainment Tool for Millennial Men

 

Chapter 2: Trends and Opportunities

Strategic Trends

Millennials Begin to Share in Economic Recovery

Table 2-1: Mean Income Trends 2004-2010, 18- to 29-Year-Olds vs. All Adults

$15,235

-5.8%

Figure 2-1: Unemployment Rate 2008-2012, 18- to 29-Year-Olds by Age Group vs. All Adults

Optimism Reigns among Millennials

Table 2-2: Consumer Confidence, 18- to 29-Year-Olds vs. Other Age Groups

Young College Grads Have Most Confidence in Their Futures

Table 2-3: Consumer Confidence, 22- to 29-Year-Olds by Education Level

Cultural Ties Mask Diversity of Lifestyles and Life Stages in Millennial Population

Marketing Trends

Younger Millennials’ Privacy Concerns Less of a Barrier to Marketers

Table 2-4: Attitudes toward Corporate Use of Personal Information, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Second-Screen Generation Creates Challenges and Opportunities for Marketers

Television Remains Important Platform to Reach Adult Millennials

Marketers Advised to Learn the Language of 18- to 24-Year-Olds

Retailers Move to Reinvent In-Store Service to Accommodate Millennials

Virgin Mobile Seeks to Capitalize on Millennials’ Preference for Data over Voice

Marketers Need to Reach Out to Millennials Wherever They Are

Marketing Opportunities

Following the Money Will Lead Marketers to Older Millennials

Millennials on Campuses Today Set to Become Affluent Consumers of Tomorrow

Figure 2-2: Mean Income of 25- to 34-Year-Olds by Level of Educational Attainment, 2010

Multicultural Youth Key to Growth Strategies

Table 2-5: Multicultural Adults as Percent of U.S. Adult Population by Age Group, 2010 (in thousands)

Table 2-6: Multicultural Population Growth as Percent of Total Population Growth of 20- to 29-Year Olds, 2010 vs. 2015

Millennial “Fusionistas” Require New Marketing Strategies

Table 2-7: Media Consumption Habits of 18- to 29-Year-Old Latinos, English vs. Spanish

Hip-Hop Culture Still Offers Marketing Platform

Millennials Key Segment in Home Electronics Market

Table 2-8: Planned Purchases of Consumer Electronics Products, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Table 2-9: Ownership of Digital Tablets and Personal Computers at Home, Latino and non-Latino 18- to 29-Year-Olds vs. Other Age Groups

Millennials Have Their Own Ideas about Food

Table 2-10: Attitudes toward New Drinks and Food Products, 18- to 29-Year-Old vs. Other Consumers by Age Group

Millennials Still Important to Auto Makers

Figure 2-3: Percent Planning to Purchase Vehicle within the Next 12 Months, 22- to 29-Year-Old vs. Other Consumers by Age Group

 

Chapter 3: Market Overview

Size of the Adult Gen-Y Population

22% of U.S. Adults Belong to Generation Y

Table 3-1: Adult Gen-Y Population as Percent of Total U.S. Adult Population, 2010 (in thousands)

18- to 24-Year-Olds Form Majority of Gen-Y Adults

Table 3-2: Size of Adult Gen-Y Population by Age Group, 2010 (in thousands)

Population of Older Millennials Projected to Grow at Faster Rate

Table 3-3: Projected Growth in the Adult Gen-Y Population by Selected Age Group, 2010 vs. 2015 (in thousands)

Buying Power of Adult Millennials

Aggregate Income of Millennials Approaches $1 Trillion

Table 3-4: Aggregate Income of 18- to 29-Year-Olds by Age Group, 2010

Figure 3-1: Aggregate Income, 18- to 24-Year-Olds vs. 25- to 29-Year-Olds, 2010

25- to 29-Year-Olds with Full-Time Jobs Key Element of Adult Millennial Market

Table 3-5: Aggregate Earnings of 18- to 29-Year-Olds by Age Group and Work History, 2010

Men and Non-Hispanic Whites Responsible for Largest Shares of Gen-Y Income

Table 3-6: Aggregate Income of 18- to 29-Year-Olds by Selected Demographic Characteristics, 2010

Adult Millennials Trail other Age Groups in Financial Clout

Table 3-7: Aggregate Income by Age Group, 2010

Aggregate Income of Gen-Y Adults Will Exceed $1 Trillion in 2016

Table 3-8: Projected Growth in Aggregate Income of 18- to 29-Year-Olds, 2011-2016

Younger Millennial Market Segment Will Experience Slower Growth

Table 3-9: Projected Growth in Aggregate Income of 18- to 24-Year-Olds, 2011-2016

Table 3-10: Projected Growth in Aggregate Income of 25- to 29-Year-Olds, 2011-2016

Table 3-11: Percent of Aggregate Income Growth of 18- to 29-Year-Olds by Age Group, 2011-2016

 

Chapter 4: Personal Profile of  Gen-Y Adults

Demographic Highlights

Gen-Y Adults at Distinct Life Stage

Table 4-1: Events Experienced in Last 12 Months, Gen-Y Consumers vs. All Adult Consumers

Gen-Y Population Has Strong Multicultural Orientation

Table 4-2: Selected Demographic Characteristics, Gen-Y vs. All Adult Consumers 

Gender Gap on Campuses Creates Educational Disparity between Gen-Y Women and Men

Table 4-3: Educational Profile of 18- to 29-Year-Olds by Gender, 2010

Table 4-4: Educational Attainment of 18- to 29-Year-Olds by Gender

Part-Time Employment Hallmark of Younger Millennials

Table 4-5: Employment Profile, Gen-Y Consumers by Age Group vs. All Adult Consumers

Unemployed Millennials Expect to Be Working Soon

Table 4-6: Employment Plans of Unemployed, Gen-Y Consumers by Age Group vs. All Adult Consumers

One in Four Millennials Lives in Household with Income of $100,000 or More

Table 4-7: Household Income, Gen-Y Consumers by Age Group vs. All Adult Consumers

Marriage and Family

Most Millennials Live in Family Environment

Table 4-8: Living Arrangements of 18- to 29-Year-Olds by Age Group, 2011

Gen-Y Males Much More Likely to Boomerang Home to Parents

Table 4-9: Profile of 25- to 29-Year-Olds Living in Household of Parent, 2011

Marriage Makes Inroads on Life Styles of Older Millennials

Table 4-10: Marital Status of 18- to 29-Year-Olds by Gender and Age Group, 2011

Figure 4-1: Percent of 18- to 29-Year-Olds Currently Engaged to Be Married by Age Group

15% of Older Millennials Live as Opposite-Sex Unmarried Couple

Table 4-11: 15- to 29-Year-Olds Living as Partners in Opposite-Sex Unmarried Couples by Presence of Children under 18, 2011 (in thousands)

Many Millennials Are Part of Same-Sex Couples

Parents a Key Segment of Adult Millennial Population

Figure 4-2: Percent of 18- to 29-Year-Olds by Age Group Who Are Parents

Core Values:  What Makes Millennials Different

New and Unconventional Things Appeal

Table 4-12: Attitudes toward Trying New Things, Gen-Y Consumers vs. Other Adult Consumers by Age Group

Table 4-13: Attitudes toward Risk-Taking, Gen-Y Consumers vs. Other Adult Consumers by Age Group

Cell Phones Form Ties that Bind

Table 4-14: Attitudes toward Friends and Family, Gen-Y Consumers vs. Other Adult Consumers by Age Group

Desire for Material Success Drives Gen-Y Adults

Table 4-15: Attitudes toward Work and Money, Gen-Y Consumers vs. Other Adult Consumers by Age Group

Millennials See Selves as Influencers

Table 4-16: Influencing Others, Gen-Y Consumers vs. Other Adult Consumers by Age Group

Social and Political Values

Religion Less Important to Gen-Y Adults

Table 4-17: Importance of Religion, Gen-Y Consumers vs. Other Adult Consumers by Age Group

Conservatives Outnumber Liberals

Table 4-18: Political Profile, Gen-Y Consumers by Age Group vs. All Adult Consumers

Millennial Adults Espouse Libertarian Political Values and Conservative Social Values

Table 4-19: Social and Political Values, Gen-Y Consumers vs. Other Adult Consumers by Age Group

Concern for the Environment Drops Off among Millennials

Table 4-20: Attitudes toward the Environment, Gen-Y Consumers vs. Other Adult Consumers by Age Group

 

Chapter 5: Millennials and Money

Use of Credit and Debit Cards by Gen-Y Adults

One-Third of Gen-Y Adults Have or Use Credit Cards

Table 5-1: Ownership and Use of Credit Cards, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials Demonstrate Responsibility in Use of Credit Cards

Table 5-2: Frequency of Use and Payment Patterns of Credit Card Users, 18- to 29-Year-Old vs. All Credit Card Users

Millennial Credit Card Users Display Distinct Characteristics

Table 5-3: Demographic Profile of 18- to 29-Year-Olds, Credit Card Users vs. Non-Users

ATM/Debit Cards More Commonly Used by Gen-Y Consumers

Table 5-4: Use of Debit/ATM Cards, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Younger Millennials More Apt to Use Debit Cards

Table 5-5: Demographic Profile of 18- to 29-Year-Olds, Debit vs. Credit Card Users

Use of Banking and Other Financial Services

Checking Accounts Sparse among Millennials

Table 5-6: Bank Accounts Currently Have, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Online Banking Popular among Gen-Y Consumers

Figure 5-1: Percent Going Online for Banking Services in Last 30 Days, 18- to 29-Year-Olds vs. All Adults

Older Millennials Important Customers for New Car Loans

Table 5-7: Loans Currently Have, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Older Millennials Begin to Accumulate Wealth

Figure 5-2: Percent Owning Any Investments by Age Group

Table 5-8: Demographic Profile of 18- to 29-Year-Olds Owning Any Investments

Older Gen-Y Consumers Like to Pay Bills Online

Table 5-9: Method of Paying Bills, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Gen-Y Consumers Look to Online Tax Software and On-Site Services to Help Prepare Tax Returns

Table 5-10: Method of Preparing Taxes, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Tax Preparation Choices Driven by Demographics

Table 5-11: Demographic Comparison of 18- to 29-Year-Olds Using On-Site Services and Online Tax Preparation Software

 

Chapter 6: What Makes Gen-Y Shoppers Tick

Highlights of Shopping Behavior

Shopping a Form of Entertainment for Millennials

Figure 6-1: Percent of Men Who Really Enjoy Any Kind of Shopping, 18- to 29-Year-Olds vs. Other Age Groups

Figure 6-2: Percent of Women Who Really Enjoy Any Kind of Shopping, 18- to 29-Year-Olds vs. Other Age Groups

Friends Influence Where Younger Millennials Shop

Table 6-1: Reasons for Store Selection, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Millennials on the Hunt for New Stores

Table 6-2: Attitudes toward Shopping at New Stores, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Millennials Like Shopping with Their Friends

Table 6-3: Shopping as a Social Experience, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Millennials Have Distinct Shopping Patterns

Table 6-4: Shopping Behavior, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Millennials Frequent Shopping Malls

Table 6-5: Visits to Malls in Last Four Weeks, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials Frequent Shoppers at Home Electronics Stores

Table 6-6: Shopping Patterns by Category of Store, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Frequent Gen-Y Shoppers Profiled

Table 6-7: Demographic Profile of 18- to 29-Year-Old Frequent Shoppers by Category of Retailer

Many Retailers Unusually Successful with Millennial Shoppers

Table 6-8: Most Popular Department/Discount/Clothing Stores, 18- to 29-Year-Old vs. 30+-Year-Old Men

Table 6-9: Most Popular Department/Discount/Clothing Stores, 18- to 29-Year-Old vs. 30+-Year-Old Women

Factors Influencing Purchasing Decisions of Gen-Y Shoppers

Online Sharing Sites Have Major Impact on Buying Decisions of Gen-Y Women

Table 6-10: Impact of Online Sharing Websites on Consumer Behavior, 18- to 29-Year-Old vs. Other Adult Consumers by Gender and Age Group

Internet Ads Have Twice the Impact on Millennials

Table 6-11: Form of Internet Ads Leading to Purchase Very Often/Often/Somewhat Often, 18- to 29-Year-Old vs. All Adult Consumers

Millennials More Interested in Cell Phone Ads

Table 6-12: Attitudes toward Cell Phone Ads, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Price Matters Less to Millennials

Table 6-13: Importance of Price, 18- to 29-Year-Old vs. Other Adult Consumers by Gender and Age Group

Overview of Purchasing Patterns

Gen-Y Shoppers Compare Favorably with Consumers in 45+ Age Group

Table 6-14: Products Bought in Last 12 Months, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

High Earning Millennials More Likely to Make Major Purchases

Table 6-15: Demographic Profile of 18- to 29-Year-Olds by Type of Major Purchase in Past 12 Months

Consumer Expenditure Patterns of Younger Millennials Highlight Diversity in Lifestyle and Life Stages

Table 6-16: Characteristics of Consumer Units Headed by Consumers Under 25 Years of Age, 2010

Table 6-17: Consumer Expenditure Categories with Above-Average Expenditures by Consumer Units Headed by Consumers Under 25 Years of Age, 2010

Online and Catalog Shopping

Gen-X Shoppers Outpace Millennials Online

Figure 6-3: Percent Making Online Purchase in Last 12 Months, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Table 6-18: Items Ordered Online in Last 12 Months, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Well-Paid College Grads Lead Millennials in Online Spending

Table 6-19: Amount Spent Online in Last 12 Months, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Table 6-20: Demographic Profile of 18- to 29-Year-Olds Spending $500 or More Online in Last 12 Months

Catalog Shopping Has Low Priority for Millennials

Table 6-21: Catalog Shopping in Last 12 Months, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

 

Chapter 7: Millennials and the Media:  Decoding the Second-Screen Generation

Multitasking Millennials and Television

Today’s Gen-Y Adults Grew Up Multitasking

Most Millennials Involved with Second Screen While Watching TV

Table 7-1: Activities Performed Very Often/Often/Somewhat Often While Watching TV, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Different Second Screens Have Different Audiences

Table 7-2: Demographic Profile of 18- to 29-Year-Olds Using Other Forms of Screen Entertainment While Watching TV by Type of Screen Entertainment

Online TV Captures Attention of Millennials

Figure 7-1: Percent Watching Videos, Television Programs or Movies Online, 18- to 29-Year-Old vs. Other Consumers by Age Group

TV Maintains Hold on Millennials

Table 7-3: Attitudes toward Television and Radio, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Table 7-4: Most Popular Cable Television Channels, 18- to 29-Year-Olds vs. Other Adults

Multitasking Often Deepens Involvement of Millennial Viewers with TV Shows

Millennials Most Likely to Use Social Sharing Websites to Follow TV Shows

Table 7-5: Media Followed on Social Sharing Websites, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

TV Commercials More Interesting to Millennials than They Are to Older Viewers

Table 7-6: Attitudes toward Television Advertising, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials and Social Media

Millennial Women in Forefront of Social Media Revolution

Figure 7-2: Percent Using Social Media, 18- to 29-Year-Old vs. Other Consumers by Age Group

Figure 7-3: Percent Using Social Media, 18- to 29-Year-Old vs. Other Consumers by Age Group and Gender

Millennial Women Most Likely to Visit Online Sharing Sites

Table 7-7: Use of Online Sharing Websites, 18- to 29-Year-Old vs. Other Adult Consumers by Gender and Age Group

Gen-Y Women Blog More than Any Other Consumer Segment

Figure 7-4: Percent Visiting Blogs Six or More Times in Last 30 Days, 18- to 29-Year-Olds vs. Other Age Groups by Gender

Gen-Y Women Most Likely to Share Their Own Thoughts on Social Media

Table 7-8: Involvement in Social Sharing Websites, 18- to 29-Year-Old vs. Other Adult Consumers by Gender and Age Group

Millennials and Radio

Radio Is Important to Millennials

Table 7-9: Attitudes toward Radio, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Internet-Only Radio Popular with Gen-Y Listeners

Table 7-10: Listening to Online Radio, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennial Women More Avid Radio Listeners

Table 7-11: Most Popular Radio Formats among 18- to 29-Year-Old Men and Women

Millennials and Print Media

Magazines Matter to Millennials

Table 7-12: Attitudes toward Print Media, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Table 7-13: Readership of Newspapers, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Older Millennials More Likely to Turn to Online Versions of Print Media

Table 7-14: Readership of Magazines and Newspapers Online, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Gender Gap in Magazine Preferences Wider among Millennials

Table 7-15: Most Popular Magazines among 18- to 29-Year-Old Men and Women

Table 7-16: Most Popular Magazines among Adults 30 Years Old and Over by Gender

 

Chapter 8: Millennials and Technology

Overview

Youngest Millennials Can’t Do Without Gadgets

Table 8-1: Attitudes toward Owning Gadgets, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials Are Influencers

Table 8-2: Influence on Home Electronics Purchasing Decisions of Others, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Price Matters less to Youngest Millennials

Table 8-3: Factors Affecting Purchase of Home Electronics, 18- to 29-Year-Old Consumers vs. Other Adult Consumers by Age Group

Computers and the Internet

Younger Millennials Depend on Their Computers for Entertainment

Figure 8-1: Percent Agreeing Computer Is a Primary Source of Fun and Entertainment, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials Log More Hours on Computers

Table 8-4: Ownership and Use of Personal Computers, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Gen-Y Tied to the Internet

Table 8-5: Use of the Internet, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Online Activities of Millennials Differ Dramatically

Table 8-6: Online Activities-Used/Visited in Last 30 Days, 18- to 29-Year-Old vs. All Adult Consumers

Gender Differences Apply to Internet Usage of Millennials

Table 8-7: Website Groupings Visited, 18- to 29-Year-Old vs. Other Adult Consumers by Gender and Age Group

Ownership and Use of Selected Consumer Electronics Products

iPods Part of Millennials’ Lifestyle

Table 8-8: Ownership of Portable MP3/Digital Media Players, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials Show Less Interest in E-Readers

Table 8-9: Purchase of E-Books and Books in Last 12 Months, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials and Their Cell Phones

Cell Phones Ubiquitous Feature of Millennials’ Lives

Figure 8-2: Percent Owning Cell Phones, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Youngest Millennials See Cell Phone as a Way to Express Themselves

Figure 8-3: Percent Agreeing “My Cell Phone Is An Expression of Who I Am,” 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials Use Cell Phones as Critical Information Source

Table 8-10: Use of Cell Phones, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Cell Phone Features Mean More to Younger Millennials

Table 8-11: Attitudes toward Cell Phone Features, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Table 8-12: Additional Cell Phone Services, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Unlimited Text Messaging Plans More Popular with Millennials

Table 8-13: Cell Phone Subscription, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Vision of More Advanced Technology Can Entice Youngest Millennials to Switch Cell Phone Service Providers

Table 8-14: Attitudes toward Service Providers, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Smaller Providers Attract Millennials

Table 8-15: Cell Phone Service Provider, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Millennials Dig Deep to Pay for Expensive Cell Phones

Table 8-16: Amount Spent on Most Recent Cell Phone Purchase, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Table 8-17: Cell Phone Brands Owned, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

Many Millennials Part of Family Cell Phone Plan

Table 8-18: Type of Cell Phone Plan, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

High Cell Phone Bills Part of Millennial Lifestyle

Table 8-19: Amount Spent on Last Month’s Cell Phone Bill, 18- to 29-Year-Old vs. Other Adult Consumers by Age Group

 

Chapter 9: Gen-Y Consumer Highlights:  Fashion and Entertainment

Fashion

Gen-Y Men Are Fashion-Forward

Table 9-1: Keeping up with Fashion, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Latest Styles Attract Attention from Millennials

Table 9-2: Staying in Style, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Millennials Enjoy Shopping for Clothes

Figure 9-1: Percent Who Really Enjoy Shopping for Clothes, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

New Clothes a Must for Millennials

Table 9-3: Buying Clothes, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Jeans and Sneakers Remain Important to Millennials

Table 9-4: Purchase of Jeans in Last 12 Months, 18- to 29-Year-Old vs. All Consumers by Gender

Table 9-5: Purchase of Sneakers/Athletic Shoes in Last 12 Months, 18- to 29-Year-Old vs. All Consumers by Gender

Apparel Choices Differ

Table 9-6: Purchase of Men's Apparel & Accessories in Last 12 Month, 18- to 29-Year-Old Men vs. All Men

Table 9-7: Purchase of Women's Apparel & Accessories in Last 12 Month, 18- to 29-Year-Old Women vs. All Women

Entertainment

Live Entertainment Events Attract Millennials

Table 9-8: Attendance at Live Entertainment Events in Last 12 Months, 18- to 29-Year-Old vs. Other Consumers by Age Group

Hip-Hop Retains Hold on Millennials

Table 9-9: Favorite Music Types, 18- to 29-Year-Olds, Non-Hispanic White vs. Multicultural

Millennials Most Likely to Download Music

Table 9-10: Purchase of Music in Last 12 Months, 18- to 29-Year-Old vs. Other Consumers by Age Group

Younger Millennials Vital to Hollywood

Figure 9-2: Percent Attending Movie in Last Six Months, 18- to 29-Year-Old vs. Other Consumers by Age Group

Table 9-11: Number of Times Attended Movies in Last 90 Days, 18- to 29-Year-Old vs. Other Consumers by Age Group

Table 9-12: Type of Movie Seen in Last 90 Days, 18- to 29-Year-Old vs. Other Consumers by Age Group

Millennials Matter When a New Film Opens

Table 9-13: When Usually Go to See a Movie, 18- to 29-Year-Old vs. Other Consumers by Age Group

3-D Movies of More Interest to Millennials

Figure 9-3: Percent Seeing 3D Version of Movie If Available, 18- to 29-Year-Old vs. Other Consumers by Age Group

Video Games Prime Entertainment Tool for Millennial Men

Table 9-14: Percent Owning or Playing Video Games, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Table 9-15: Percent Playing Video Games Five or More Hours in Last Seven Days, 18- to 29-Year-Old vs. Other Consumers by Gender and Age Group

Leisure Activities Reflect Age and Life Stage of Millennials

Table 9-16: Most Popular Leisure Activities/Hobbies, 18- to 29-Year-Old vs. Other Consumers by Age Group

Team Sports Part of Millennial Lifestyle

Table 9-17: Most Popular Sports, 18- to 29-Year-Old vs. Other Consumers by Age Group

 

Appendix:  Addresses of Selected Millennial Market Resources

 

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