Yet, paradoxically, survey data show that Millennials are less likely than any other age segment to have cut spending during the recession, and they are more optimistic than other American consumers about the future of the American economy. Millennials in the 18- to 24-year-old age group have significant discretionary income, while many 25- to 29-year-olds are beginning high-income careers and are entering the heavy-spending life stage of forming households and creating families. With an aggregate income of nearly $1 trillion, adult Millennials can be expected to play a key role in the recovery of the American economy and consequently offer significant opportunities to marketers of a wide range of consumer goods and services.
The report begins with an assessment of trends shaping the adult Millennial market and identifies opportunities available to marketers interested in connecting with Gen-Y consumers. It continues with a forecast of the growth of the buying power of Gen-Y consumers through 2015 and a detailed demographic profile of the Gen-Y population. The next chapters analyze how Gen-Y consumers manage and spend money. Individual chapters provide an in-depth view of the role of technology in the lives of Millennials, an assessment of ongoing changes in the media consumption habits of Gen-Y consumers and an overview of the leisure-time and entertainment patterns of Millennials. The report concludes with an analysis of the attitudes and behavior of Millennial consumers in the areas of fashion, food and automotive.
Millennials in the U.S.: Trends and Opportunities Surrounding Gen-Y Adults
October 01, 2010
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