Millennials 2013: Year in Review

Millennials Report 2013: Year In Review

12.23.13

What We Learned About Millennials In 2013

Who was Involved?

Buzz Marketing Group’s Millennials Report 2013 is based on qualitative and quantitative research conducted with 500 buzzSpotters® throughout the United States during the month of March, 2013. This report is available for download at www.buzzmg.com/reports.

Composed based on data from 3.8.2013 – 3.22.2013

500 Participants 9,000 Panelists

53% Female 47% Male

Survey fielded online

Ages 18-34 18-22 17% 23-26 25% 27-30 31% 31-34 27%



Traditional Values

Traditional values are still somewhat important to 20somethings. Despite allegations regarding Millennials’ lack of values, our research shows that the three most important things to this generation are: being a good family member and friend, living a religious or spiritual life, and finding a good partner for life.



Financial Awareness

Millennials are paying attention to their money. According to our research, a little over two thirds (64%) of Millennials feel financially secure while 79% are completely financially independent. Over half (53%) are already saving for retirement and 94% are aware of how much they spend.



On The Move Generation Y is on the move when it comes to employment opportunities. 94% of MIllennials have actively searched for a new job while still employed – “Higher salary,” “More growth opportunities,” and “Higher sense of purpose” were listed as the main factors that would cause these Millennials to leave their current jobs for new positions. And Generation Y is not afraid to try different things until they find the right fit, as 34% have experimented with two careers and 39% have experimented with three or more careers before finding the most fitting one.



Strong Opinions This generation has strong opinions on issues. We learned that 80% of those surveyed believe that marijuana should be legalized, 76% believe that same-sex couples should have the right to marry, and 95% believe there should be mandatory background checks before any firearm purchase. Though opinions may vary depending on the issue at hand, this set of MIllennials is not afraid to express what is on their minds.



Influence Of Technology Media and technology continue to influence Generation Y. Almost half (49%) of survey respondents spend over six hours online per day and about a third (31%) spend between three and six hours per day using the Internet. The majority (92%) owns a smartphone and a laptop. Facebook is not as popular as it once was but still is the most popular among all social media sites with 85% of Millennials checking in on a daily basis.



Digital Integration Social media and digital integration are key in capturing Generation Y’s attention. While spending so much time online, it comes as no surprise that this generation is influenced by the advertisements that are presented to them through online platforms. Integrating traditional marketing with campaigns on Instagram, Facebook, and Twitter will be a truly useful benefit to any brand or store that aims to attract Millennials.



Hard Copy Digital media doesn’t always win out. Though Generation Y spends an incredible amount of time browsing the web, they do not necessarily always prefer online versions of media to traditional versions. For instance, 86% prefer in-hand magazines over online editions and 89% prefer actual books over their online counterparts. The only type of media for which Millennials prefer the online versions are newspapers.



Millennials Are Givers

Millennials enjoy giving. Research shows that 86% donate to local charities and 74% are much more likely to purchase a product if proceeds go to charity. The most popular types of charity organizations among 20somethings are those dedicated to: children’s causes (47%), health related issues (22%), and environmental matters (14%).



Value Matters Value propositions matter in purchasing decisions. Millennials are looking for more than just another product to buy or another store to browse. They seek inspiration, which is why brands such as Warby Parker and TOMS are winning out over the once-popular brands like American Eagle and Urban Outfitters. The former offers a promise and an experience, while the latter simply does not.



Spirituality On The Rise

Spirituality is on the rise even if religion isn’t. Only 9% of Millennials consider themselves to be religious and 40% consider themselves to be less religious now than in the past. Although institutionalized religion is not as popular as it once was among Millennials, over 60% of surveyed 20somethings consider themselves to be “spiritual.”



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