If Millenials Suck, Why Market to Them?

Entitled snowflakes who live with their doggo in their parents’ basement and work in the gig economy. 

That’s how the internet might frame Millennials—the group of 75 million people born roughly between 1981 and 1996. The oldest Geriatric Millennial turns 41 this year and the youngest Zillennial turns 26.

Millennials are the last generation who knows how to work both a VCR and an iPad. They remember life without the internet, while still being technologically literate enough to help The Olds access The Cloud. (They are also petty enough to complain about this online.)

Lately, Millennials have been copping some flak.

They are being made fun of for the “Millennial Pause”, coined by TikTok user @nispisa to describe that split second pause when taking a video to check that it’s definitely recording—something Gen Z trusts implicitly. Goodness forbid they use phrases like “adulting”, “I did a thing”, or “it’s wine o'clock”.

They are (to younger people’s horror) attached to spray-on skinny jeans, side parts, taking selfies from a high angle, the laugh cry emoji, coffee, pizza, and knowing which Harry Potter house a BuzzFeed quiz sorted them into. Millennials are decidedly cringe. And even though young people think low-rise jeans are a new thing, Gen Z are the tyrants of cool.

It is also, of course, Millennials’ fault that they cannot afford to own a home. Most likely due to their high consumption of avocado toast and not the fact they’ve taken on 300% more student debt than their parents.

Millennials are to blame for killing these industries:

Cable TV. Cartoon Network single-handedly raised Millennials, then priced them out.

Diamonds. Fewer couples are getting married, going for more alternative ring styles, or just don't care about diamonds. 

Cigarettes. This downward trend is continuing with younger generations. Just don’t ask about vapes.

Cereal. A high sugar breakfast with IBS inducing milk? No, thank you.

Paper napkins. It’s either a paper towel on the couch or fancy linen at a dinner party. No in-between.

Alcohol. 71% of Australians spend less on booze than older Aussies. That’s good, right?

Doorbells. It seems that Millennials would rather send an “I’m outside” text.

Golf. No comment.

Millennials aren’t buying what people used to. Gen Z are the gatekeepers of trends. Boomers own all the assets. And Gen X never gets talked about for some reason.

Is it even worth marketing to Millennials at all?

Yes. And here’s why.

The spending power of Millennials is $2.5 trillion. And they are currently the largest consumer group.

Millennials spend a daily average of $208.77, more than any other generation. Thank you, inflation.

Figures estimate that by 2025 in Australia, they will also make up 75% of the workforce. And in the US, over 90% of Millennials are employed, with one fifth of them occupying managerial roles. This means they not only have cash flow, but they’re also influential decision makers. 

Millennials actually do have mass buying power. So they simply cannot be ignored when it comes to considering your consumer audience. Plus they’re more likely to leave a gushing (yet daggy) review, and influence others to buy.

What matters is what you’re selling to them.

The inaccurate assumption is that Millennials want to spend more on necessities like housing and groceries. The cost of living is high anyway, they figure they might as well enjoy their inflated necessities.

Millennials also sit at the top of all groups when it comes to shopping and banking in line with their morals. According to the Deloitte Global Millennials Survey 2020, 60% of millennials shared that they were willing to support a big business that took care of its employees and made a positive societal impact during the pandemic. They are more switched on to green washing and want the brands they buy from to represent who they are as a person. 

You might think that Gen Z would be more environmentally responsible and ethical consumers, but they’re also hypocritical. They love Amazon, BitCoin and Shein—all of which are pretty abominable when it comes to ethics.

Millennials value convenience and do the majority of their shopping online, which has only been strengthened by pandemic habits. They will go to brick-and-mortar stores, but it has to be worthwhile. Whether it’s for the service, discounts, or Instagram post.

Majority of Millennials also won’t be retiring until age 75. Which is a depressing realisation, but reassuring for brands that their buying power isn’t going anywhere anytime soon.

Which brands will see success with Millennials?

• Socially responsible and environmentally friendly brands

• Quality food, groceries and personal care items

• Brands prioritising health and wellness

• Online shopping, especially fashion

• At-home beauty, leisure and treat yo’ self moments

• Online banking

• Faster and more convenient solutions

• Apps with intuitive UX

• Gaming or gaming-related products

• Local travel

Want to know how to maximise your Millennial marketing efforts and benefit from their huge consumer influence? We can help. 

But first, coffee.