Millennials, what do you need to know about them?

Our parents were called the Baby Boomers. We, as their offspring, are now referred to as millennials. The generation that's changing the rules. Like everyone else, we come with special characteristics that make us unique. So business and marketing must adapt quickly, as only a fool would ignore such great buying power. 

Millennials shop and book online

A large majority of millennials buy all things and services online. The same goes for bookings. 64% of people book hotels online and on their mobile phones. While people over 35 do almost none.

Millennials don't just want to shop, they want to be part of and collaborate.

You can't buy loyalty. Millennials don't respond to the hard sell. They grew up in an era of social sharing.  That's why you need to target them through the experience your product or service will offer them. Some big brands have figured this out and that's why they work with bloggers who can deliver in a way that some companies can't. 

The mobile revolution

More than 85 percent of millennials own a smartphone. Growing up during the technological revolution has helped this generation adapt much more quickly than others. 

Loyalty beyond the grave

Millennials love to share their favourite products they adore on social media. That way we can all see their reaction, as consumers, to the product. This style of advertising is more important than we currently realize. A style that can influence people in this way is and will become more and more in vogue.

And what about their lives? 71% would rather buy a car than rent one. 59% would rent a house rather than buy one. The economy affects millennials just as much as it does everyone else. So they have a car, but they're still living in a room in their parents' house. They're getting married and having kids later, they're underemployed. On the other hand, the opportunities are greater today as are the jobs, so if they have the right drive and guts, they can go far.