May 31, 2014
The 80 million members of the millennial generation represent 25% of the U.S. population and more than $200 billion in annual buying power. (source: US advertising firm Barkley). Millennials are typically defined as those born between 1980 and 2000.
According to a 2012 study this group has influence over $500 billion of indirect spending, primarily because teens and young adults influence the purchasing habits of their parents (source: U.S. Chamber of Commerce Foundation). Millennials’ annual spending is expected to reach $2.45 trillion by 2015 (source: Deloitte). Clearly there is need for better understanding and finding new ways to target this important demographic.
They are price and value conscious ...