Five millennial groups of which your business should be aware

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Despite the endless amounts of dross you’ll see clogging up the digital and physical shelves of bookstores, not all young people are clamouring to be YouTube heroes (or heroines). Similarly, not everyone has a deep and impassioned interest in following the lives of the Kardashians in the hopes that they too will be able to snap the most perfect of all perfect ‘selfies’ – stick or phone optional.

Millennial Group

According to an article from Real Business, young people, or millennials as they’re more commonly known, can be separated into five separate but succinct categories, which dispel a lot of myths about how businesses tend to perceive them.

1. Millennials aren’t self-absorbed, they’re free spirits

The myth is that all millennials are self-absorbed and although there is a little truth in this, it isn’t necessarily in the Miley Cyrus way of thinking. Most and if not all of millennials are self-absorbed because they want to be heard and they want to be successful.

However, most of these people are well-educated and more often than not have a real opinion on current events, culture and arts, which you might find worth listening. Millennials are trend-setters who are always looking for something new to create: their minds can be a safe full of ideas that are just waiting to be cracked open.

2.They can be surprisingly traditional

Although it doesn’t seem like it, Real Business has found that 73 per cent of millennials are employed and 28 per cent are married.

However, it can’t be ignored that millennials are a particularly career-driven group of individuals, especially when you consider the amount of businesses that are now started by young entrepreneurs, which doesn’t follow a traditional pattern of business.

In the same way, many millennials are keen to be self-employed, which not only allows them to create their own job opportunities and work with a wealth of people but it also gives them the freedom to be able to travel and work abroad much more easily.

3. They can be concerned aspirationalists

Real Business claims that around 13 per cent of millennials are mothers who have little time and money, but who are hooked on social media.

It states that what drives this sector of the millennial age group are things like convenience and low costs and as such a business should seek to engage with this part of its target audience.

The fact that millennials are spending a lot of time on social media would suggest that your business may want to dedicate a certain amount of its marketing strategy and budget towards Facebook and Twitter adverts. Or perhaps you’d prefer to boost your posts or promote your tweets? Either way, thinking about creating a proper social media marketing strategy is an excellent way to reach a large group of millennials.

4. It’s all about Mother Nature

As you might have noticed over the past few years, the consumer market is becoming much more interested in locally produced or crafted goods. This is particularly true of the food and beverage market, where independent retailers are becoming kings of cities all around the world.

Millennials believe that by shopping locally and using local ingredients, they’re doing their part for the environment by reducing their carbon footprint, instead of shopping at large supermarket chains and similar conglomerate stores.

Similarly, there has been a large push over the past couple of years for people to use completely fresh ingredients and a sort of war against processed foods.

Food brands are much more likely to be successful in the current market by shouting about how few ingredients are in their products and how responsibly they are sourced.

An eco-conscious millennial will be the person who studies the packaging of a product to see whether it contains any palm oil and if said product has been made with Fairtrade sugar or cocoa, rather than looking at the health-conscious benefits.

Of course, those who are concerned about their health can also fall under this group when we look back to the importance of fresh ingredients to millennials.

A brand who advertises its fresh, healthy and Fairtrade benefits particularly well is Innocent. It heralds itself as a producer that doesn’t associate with processed foods and it proudly creates juices and smoothies that aren’t from concentrate, which makes them a popular choice for all kinds of millennials.

5. I have confidence in me

Whether or not there is a foundation for it, the millennial is usually a person who exudes confidence.

As such, the millennial will know (or at least claim to know) a lot about a wide range of topics and digital technologies. The millennial will champion ethnic diversity and is a socially conscious leader who is likely to shop in a variety of specialist stores.

This is different to someone who is older than this age group, who Real Business believes will be more likely to try to get everything they need from one shop, or as few shops as possible.

In a way this is similar to the idea that millennials prefer shopping that is local and eco-friendly. Overall, they’re going to prefer to buy products from specialist places, rather than in megastores that mass-produce a huge range of products.