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October 2017

Five Facts About Millennial Households

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Millennials are the largest living generation. Given this, millennial-run households are becoming pervasive. Pew Research Center conducted research of millennial households given that many economic and spending decisions revolve around the household as opposed to the adults alone. The research revealed five key facts about Millennials:

  1. More millennial-headed households are in poverty than households headed by any other generation. Of the 17 million U.S. households, 5.3 million of households headed by a Millennial were living in poverty. In contrast, 4.2 million households headed by a Gen Xer and 5.0 million headed by a Baby Boomer live in poverty.
  2. Millennial households are primarily renter-occupied. Approximately 45.9 million households are renter occupied. Millennials were the most likely to live in renter-occupied households with 18.4 million reporting doing so. This strongly differs from renter-occupied households amongst Generation X (12.9 million) and Baby Boomers (10.4 million). Among households headed by the Silent or Greatest generation, only 4.1 million were renters.
  3. Millennial households are primarily those of cohabiting couples. Millennials have more households headed by unmarried partners than any other generation. There are approximately 8.3 million households headed by cohabiting couples. Of these, 4.2 million were headed by Millennials.
  4. Millennial households are more likely to be headed by single mothers. Approximately 8.6 million households are headed by a single mother, with a child under the age of 18. Four million of these mothers were Millennials. This slightly outnumbers Gen Xers (3.9 million). The number of Baby Boomers who were single mothers and heading households was only 0.6 million.
  5. Among heads of households, the millennial generation has the largest number that identify as multiracial. Approximately 630,000 multiracial Millennials headed a household. About 540,000 multiracial Gen Xers and a similar number of Baby Boomers headed a household.

Marketing via Social Media Platforms Across Generations

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Research by Yes Lifecycle Marketing surveyed 1,000 consumers across different generations about product marketing and purchasing behavior via social media platforms. Centennials and Millennials were the generations most influenced to purchase as a result of social media. Eighty percent of Millennials and 74 percent of Centennials reported that social media influences their shopping. Approximately 58 percent of Generation X consumers and 41 percent of Baby Boomers reported this.

The research revealed that Facebook is the most influential social network in terms of facilitating purchases. Millennials, by far, were the most likely to purchase after seeing brand marketing on Facebook (66 percent). Over half (51 percent) of Centennials reported that they purchase as a result of Facebook. However, the older generations, such as Generation X (44 percent) and Baby Boomers (38 percent) found it influential.

There were generational differences when it comes to the other social media platforms. Instagram was more influential for Centennials (44 percent) than Millennials (21 percent), Generation X (15 percent), and Baby Boomers (3 percent). Snapchat was also a platform that was most influential for Centennials (21 percent) compared to Millennials (11 percent), Generation X (4 percent), and Baby Boomers (0 percent). YouTube was the third most influential platform. Thirty-two percent of Centennials, 22 percent of Millennials, 14 percent of Generation X, and 6 percent of Baby Boomers found it influential when it comes to purchasing. Although Pinterest was not the most influential platform, it was relatively consistent in its influence across generations. Specifically, 16 percent of Centennials, 14 percent of Generation X, 13 percent of Millennials, and 12 percent of Baby Boomers found the platform influential in their purchasing behaviors.

Marketing via Email Across Generations

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Research by Yes Lifecycle Marketing surveyed 1,000 consumers across different generations about product marketing and purchasing behavior via email. Approximately two-thirds (68 percent) of consumers surveyed made a purchase in the past three months after receiving a brand email.  Millennials are the most likely to have reported making a purchase after receiving an email followed closely behind by Generation X shoppers. Centennials and Baby Boomers lagged behind. Forty-seven percent of Millennials have made three or more purchases as a result of an email, twice as many as Centennials.

In terms of purchase drivers resulting from marketing emails, all generations are driven by value discounts and brand reputation. However, the generations seem to differ when it comes to other contributing factors. For example, Centennials (85 percent) make more email-driving purchases because the brand offers an easy online/mobile experience.  Millennials (70 percent) make email purchases based on loyalty more than any other generation. Older generations, such as Generation X (92 percent) and Baby Boomers (92 percent), are more influenced to purchase by the ease of doing business.

Email personalization seems to impact generations differently. Millennials (49 percent) and Centennials (45 percent) are influenced to purchase by personalized content. These groups are also heavily impacted by product recommendations, with 56 percent of Millennials and 53 percent of Centennials highlighting the importance of them. Personalized content and product recommendations do not matter as much to Generation X and Baby Boomers.

Timing for brand-marketing emails is also important. The most popular times to check email for brand messages for all consumers was in the morning (32 percent) and evening (31 percent). However, 25 percent of all consumers check throughout the day. Centennials differ from other generations in that they check email more frequently. They check emails when they are on the go, such as during their commute (6 percent) and when trying to pass time, such as when in line (14 percent).

Millennial Digital Music and Digital Communication Trends

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Nielsen’s Millennials on Millennials Report examined the digital music and digital communication trends of persons age 18 to 34. The researchers found that Millennials continue to spend more time on their smartphones (app and web) than their older counterparts. Millennials (ages 18-24) spend 78 billion minutes in the average week using their smartphones in the first quarter of the year. This averages to 1,062 minutes per Millennial. Consumers age 35-49 spent 73 billion minutes in the average week on their smartphone. This equates to 1,196 per person.

Millennials are more open to new messaging apps than their older counterparts. Seventy percent of Millennials report using two or more apps for messaging. In contrast, only 42 percent of those 35 and older reported using two or more messaging apps. Use of messaging apps is also highly more “social” for Millennials than their older counterparts. Millennials are 8 percent more likely than users 35 and older to use messaging apps for group conversations. They were 13 percent less likely to use such apps for one-on-one messaging than users 35 or older.

Listening to traditional radio remains popular amongst Millennials. In an average week, young Millennials (18-24) spend 10 hours, 14 minutes each week listening to the radio. This is only about an hour less than older Millennials (25-34). Digital consumption is not reducing traditional radio. In fact, the reach for traditional radio amongst Millennials is 93 percent.

On-demand streaming is also popular amongst Millennials while on the go. Approximately 60 percent of Millennials said they use two or more apps to stream music. Only 40 percent of consumers 35 and older reported using two or more apps. Older individuals are more likely than Millennials to remain loyal to a single app or streaming service. Podcasts are also more popular amongst Millennials. Thirteen percent said they listen daily. Only 5 percent of their 35 and older counterparts reported listening daily.

Mobile Gameplay Across Generations

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Research conducted by AdColony in their Consumer Sentiment Survey examined mobile gameplay behavior amongst various generations.  They asked respondents questions about mobile preferences and behavior. The researchers found that 29 percent of respondents play mobile games daily. Nineteen percent reported playing games multiple times per day. Approximately 16 percent said they play games multiple times a week. And finally, 5 percent of respondents reported playing games weekly.

Millennials tend to play mobile games most frequently. Leading Millennials are more likely to play mobile games daily than any other generation, followed by Trailing Millennials. Other generations that are frequent game players include Centennials and Generation X. The Silent Generation and Baby Boomers are the least likely to play mobile games frequently. A significant portion of both generations reported playing mobile games rarely or only on a monthly basis.

The research revealed that most users are loyal to only a handful of games. A little over half (51 percent) of respondents said they only have one to five games installed. Approximately 14 percent said they have six to nine games installed. Only seven percent of respondents said they have 10 to 19 games installed. And only 5 percent of all respondents said they have 20 to 29 games installed.

Age seems to be a determining factor in how many games respondents install on their mobile phones. Younger generations, such as Centennials and Trailing Millennials are more likely to have 10+ games installed on their phones than other generations. Baby Boomers and the Silent Generation were the least likely to have a large number of games installed on their phones.

Teen Brand Preferences and Media Consumption

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Piper Jaffray surveyed 6,100 teens in 44 U.S. states. The researchers asked about their favorite brands, restaurants, social media platforms, and daily video consumption. The top clothing brands for teens were: Nike (23 percent), American Eagle (11 percent), Adidas (4 percent), Forever 21 (4 percent), and Hollister (4 percent). Michael Kors (31 percent) and Kate Spade (16 percent) were the top handbag brands followed by Coach (14 percent), Louis Vuitton (6 percent) and Vera Bradley (6 percent). In terms of footwear, Nike was the overwhelming favorite with 46 percent of respondents reporting that it is their favorite footwear brand. Less teens said their favorites included: Vans (12 percent), Adidas (11 percent), Converse (7 percent), and Birkenstock (2 percent). When it comes to shopping, Amazon is king; just under half (49 percent) said that it was their favorite shopping website. Six percent said Nike and five percent said American Eagle were their preferred stores. Only 3 percent said eBay and 2 percent said Forever 21.

In terms of restaurants, upper-income and average-income teens have relatively similar preferences. Starbucks is the top restaurant for both upper-income (11 percent) and average-income (12 percent) teens. Chick-fil-A was the second favorite restaurant for both groups. Ten percent of upper-income teens and eight percent of average-income teens said it was their preferred eating establishment. For upper-income teens, Chipotle (8 percent), McDonald’s (5 percent), and Dunkin’ Donuts (4 percent) were favorites. For average-income teens, McDonald’s (6 percent), Olive Garden (4 percent), and Buffalo Wild Wings (4 percent) were the preferred options.

Snapchat is the overwhelming favorite social media platform for teens. Just under half (47 percent) reported it being their preferred social media app. Instagram was the second most favorite with a quarter reporting it as their preferred app. Facebook (9 percent), Twitter (7 percent), and Pinterest (1 percent) were least popular amongst teens.

Video consumption is very popular amongst teens. The top video consumption platforms were Netflix (37 percent) and YouTube (29 percent). Cable TV continues to be somewhat popular amongst teens (22 percent). Hulu was the least popular video consumption platform with only four percent saying it was their favorite.

What Do and Don’t Gen Zers Want When Shopping?

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Ayden conducted a survey of 2,010 U.S. consumers in an attempt to understand what Generation Z individuals favor and do not favor when it comes to shopping. Gen Z shoppers are big fans of “just walk out” stores. These stores allow shoppers to simply pick up the items that they need and have the store automatically charge their account. Thirty-nine percent of Gen Z shoppers hope that “just walk out” stores will happen in 12 months.

Gen Z shoppers also prefer showrooms. Showrooms are physical spaces for consumers to examine products and then buy these items online. One in three Gen Zers want showrooms to be commonplace in the next 12 months. In addition, half (50%) of the Gen Z shoppers said that showrooms could drive 50 percent more shopping. However, the shoppers do not have the confidence in retailers’ abilities to get the trend anytime soon. Only 22 percent expect showrooms to happen in the next two to five years.

Augmented reality and virtual reality is also becoming popular for Gen Z shoppers. Such technology would allow shoppers to see how clothing fits or how furniture would look in their homes. Forty-four percent of Gen Z shoppers wanted augmented reality/virtual reality technology to come to fruition within the next 12 months. However, slightly less than a third (28 percent) do not expect it to happen in the next two to five years.

Gen Z shoppers do not appreciate all forms of shopping-facilitating technology. For example, one of the most cutting edge security technologies uses biometric data like scanning a fingerprint or retina. Twenty-three percent of Gen Z shoppers thought this technology will be used for shopping in two to five years. However, a little over a third (35 percent) said they did not want this feature to be part of future shopping.

Why Do Millennials Move?

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Research by StorageMart as reported in the New York Post examined reasons for moving amongst 2,000 Millennials. The research revealed that six in ten Millennials moved out of their home city. About a quarter (24 percent) moved out of their state. A smaller percentage of Millennials even reported moving out of the country (4 percent). The average respondent moved more than 500 miles away from their home at some point.

There are various reasons why Millennials move. Approximately a fifth (21 percent) of Millennials moved in search of a new home or opportunity. One in seven Millennials reported moving because of situations beyond their control. This oftentimes included financial difficulties or eviction.

The average length of time for Millennials to move was about 11 to 13 weeks. For moves resulting from romantic relationships turning sour, it took Millennials 11 weeks to move. For situations in which partners had to find a new job, it took approximately 13 weeks to find a new home. Pet owners who were no longer allowed to have pets in their homes typically found new homes after 11 weeks. Those who fell on hard times typically found a new home after 12 weeks.

Some Millennials reported that their moves were a downgrade. Specifically, nearly one in four (24 percent) said their first major move was a downgrade from their previous living conditions. Eight in ten who downgraded moved to a less spacious home. Forty-three percent gave up having a backyard.

Other respondents said their move was a more positive experience. Specifically, just over half (52 percent) said their first big move was an upgrade from their previous living conditions.These individuals described having more spacious homes and living in better neighborhoods.

Other reasons that Millennials reported for moving away from home include:

  1. Finding a new job
  2. For a fresh start
  3. Chasing dream
  4. Got accepted to college
  5. Got married
  6. Upgrading to a larger home
  7. Change of scenery
  8. To be closer to significant other
  9. Constant disputes with neighbors
  10. Getting away from a family relationship

Stress & Sleep Amongst Millennials

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Research by Mattress Firm as reported in the New York Post examined stress and sleep in 2,000 Millennials. The researchers were interested in the most common worries plaguing Millennials. They also explored the impact of stress on their lifestyles and sleep. The researchers found that Millennials spend an equivalent of 63 full days a year stressed out or worried. Further, 71 percent of them woke up during the middle of the night thinking about stressors. This occurred up to three times in an average week.

This stress often resulted in Millennials failing to get a full night’s sleep. Ninety-one percent said that stress has negatively impacted their routines. Further, 45 percent said that the constant worrying caused them to toss and turn throughout the night. In addition, 59 percent said stress caused them to wake up feeling tired.

There were several stressors that Millennials attributed to their lack of sleep. The researchers found that finance was the biggest stressor for Millennials. The average Millennial spends equivalent to 88 days a year stressing about finances.

In addition to finances, work-related stress was also an area of concern. Millennials spent equivalent to 79 days a year stressing about work. Over half (52 percent) said they typically begin their work day already fatigued. The average respondent said they wake up tired four days of the week. In fact, about a third of Millennials said they make simple mistakes resulting from lack of sleep due to stress. In addition, 55 percent of Millennials reported being irritable and 11 percent have been rude to clients because they did not get a good night’s sleep.

A final type of stress that affected Millennials’ sleep patterns was their love lives. Fifteen percent of Millennials in relationships said that they had stress worrying about if their partner was “the one.” One in six Millennials also reported worrying about the lack of progress in their relationship. Amongst single Millennials, 15 percent reported worrying about if they would ever find a suitable partner.