Millennials are not going to stay millennials because they’re approaching middle age and that means their younger counterparts are stepping into senior workplace roles. In return, greater financial independence, opening the door to products they couldn’t previously afford.

Moreover, they gradually spend more time using online media, their overall time online is also lower than it was pre-COVID-19. Furthermore, social media is central to their purchase journey more than Gen Z in certain ways.

Let’s go through this Millennials report and know all about it…

A Millennial Profile:

Let’s take a look at millennials in 2022…

Millennials are a diverse bunch and a key target for brands. Looking back at 2015, brands had a different look about them, most of them were single, and few had married or had children, on the other hand, many of them worked full/part-time roles or even owned houses, however, as of Q1 2022, it’s clear to see how quickly some of these things have changed.

The chart below shows how millennials are getting on, let’s check it:

• As we see, back in 2015, 69% of millennials were full/part-time or self-employed, as well as 36% of married or parents.
• The percentage of full/part-time or self-employed was 70% in 2016, as well as 40% for married or parents in 2016.
• The percentage keeps on increasing in the years that follow, with 76% of full/part-time or self-employed millennials and 43% for married or parents in 2017. Furthermore, 79% of millennials were full/part-time or self-employed, as well as 50% of married or parents in 2018.
• In 2019, it increased again to 83% of millennials were full/part-time or self-employed and 55% of married or parents.
• Starting from 2020, millennials started to work in management or senior roles, as in 2020, their percentage was 20%, and it kept on increasing in 2021, the percentage was 22%, and in 2022, they reached 24%…
• However, the percentage of full/part-time or self-employed reached 83% in 2020, and 84% in 2021 and 2022.
• On the other hand, the number of married or parents millennials in 2020 was 62%, 67% in 2021, and 70% in 2022.

The Millennial Spending Paradox

Well, millennials have a very unique attitude when it comes to financing and money, however, there are some similarities to Gen Zs.

Note that, they have now greater spending power, and that means although they’re still cautious about saving, they’re also more inclined to spend, leading them to make impulsive decisions from time to time.

Let’s check the chart below:

• First, we see that 15% only of Gen Z are price-conscious, on the other hand only 18% of millennials are.
• 27% of millennials are good at managing money and a higher percentage of 32% of Gen Z are good at managing money.
• 35% of Gen Z are money-driven as well as 37% of millennials.
• Furthermore, 41% of millennials are affluent and 38% of Gen Z are affluent.

For more insights and information, check the full report here.

The Table of Contents of the “ Millennials: a Marketer’s Manual” Report:

• Methodology & Definitions
• Discover our data
• Key insights
• A millennial profile
• Entertainment & Media
• Social Media
• Marketing to Millennials
• Appendix
• Notes on Methodology

Number of Pages:

• 35 Pages

Pricing:

• Free

Methodology:

All figures in this report are drawn from GWI’s online research among internet users aged 16-64. Our figures are representative of the online populations of each market, not its total population. Note that in many markets in Latin America, the Middle East and Africa, and the Asia-Pacific region, low internet penetration rates can mean online populations are more young, urban, affluent and educated than the total population. Each year, GWI interviews over 700,000 internet users aged 16-64 via an online questionnaire for our Core dataset.

A proportion of respondents complete a shorter version of this survey via mobile, hence the sample sizes presented in the charts throughout this report may differ as some will include all respondents and others will include only respondents who completed GWI’s Core survey via PC/ laptop/tablet.