How To Market To Millennials. 6 Common Traits Across To Know
by Jeff Fromm
The millennial generation, now in their 30s and 40s, is a dominant consumer force that continues to shape industries and redefine consumer expectations.
The Covid-19 pandemic has had lasting effects on their lives, influencing their approach to work, family, and purchasing behavior. Pre-pandemic strategies for marketing to millennials have evolved, and businesses must adapt to these changes. With millennials making up a significant portion of the U.S. consumer base and wielding considerable buying power, understanding their shifting priorities is crucial.
What can you learn from the pandemic's impact to better connect with millennial consumers moving forward?
Generations-At-A-Glance
Millennials As Parents Vs. Millennials Without Kids
Not all millennials are parents, but those who are, along with those who remain child-free, influence consumer trends in distinct ways. Businesses must recognize these differences to engage effectively with both groups.
According to a 2020 analysis by the Pew Research Center, 55% of Millennials (adults born between 1981 and 1996) were parents. At this point it is likely higher given more and more family formation happens later than it did a few decades ago.
And if there’s one thing we know, the presence of children in the household impacts both discretionary spending and how families spend their free time.
Millennials With Kids: Parenting In A Digital World
As millennial parents navigate raising children in an increasingly digital age, they integrate technology into every aspect of their lives. They use apps for everything from tracking developmental milestones to meal planning and virtual doctor consultations. Unlike previous generations, millennial parents are more likely to seek parenting advice from online communities and social media rather than traditional sources. Brands targeting this demographic must offer digital convenience, educational tools, and community-driven engagement.
Millennial parents also redefine family traditions. They prioritize experiences over material possessions, focus on mental health and emotional intelligence in their parenting style, and instill values of inclusivity, sustainability, and social responsibility in their children. These parents are drawn to brands that reflect these priorities, favoring companies that offer eco-friendly products, personalized services, and meaningful experiences. Adam Rossbach, an expert in live events at TFL, said, “Experiences are the new badge product. The only thing equal to a live concert or sporting event is a major trip scored with points the consumer may have earned.”
Nancy A Shenker, brand marketer and host of the Age Blind podcast, said, "Smart brand marketers also realize that parents and grandparents are often gift- and experience-givers and that campaigns that focus on that segment can be powerful. A recent study reported that as many as 30% of millennials get financial support from their families."
Millennials Without Kids: Redefining Work, Travel, And Leisure
On the other hand, millennials without children approach life with different priorities. Many emphasize career growth, travel, and self-care. Work-life balance is crucial for them, and they often seek flexibility in their jobs to allow for personal fulfillment and adventure. Unlike their parents’ generation, they are less likely to stay in one career for life and often explore entrepreneurial ventures, remote work, or the gig economy.
Millennials without kids are also driving the market for unique travel experiences, wellness products, and personal development services. Brands appealing to this group should highlight flexibility, adventure, and opportunities for self-growth. Subscription-based services, experiential purchases, and ethically sourced products resonate well with this demographic.
Six Common Traits Across Millennial Consumers
1. Entertainment Is News
Millennials consume news differently than older generations, relying heavily on digital platforms. According to research, many get their information from social media platforms such as YouTube, Facebook, and Xrather than traditional news outlets. Only a small percentage of millennials get their news from television compared to previous generations. What can you learn from social media platforms and how they influence news consumption?
2. Declining Trust In Institutions
The pandemic and other societal shifts have deepened millennials' skepticism of major institutions. A growing distrust in government, media, and large corporations means that brands must work harder than ever to earn and maintain trust. Millennials demand authenticity, transparency, and ethical practices. Brands that fail to demonstrate consistency in their values risk losing their millennial consumer base. What are you doing to earn and keep your brand loyalists' trust?
3. Brand Neutrality Is Not An Option
Millennials expect the brands they support to take a stand on key social issues. Staying neutral due to fear of alienating consumers is a failing strategy. Consumers today want to support companies that align with their values. Many brands have taken bold stances, understanding that while they may lose some customers, they gain loyalty from others. What does your brand stand for, and how do you communicate that to millennial consumers?
4. Millennials Train Algorithms To Get What They Want In Their Feed
Personalization is key for this generation. Many millennials actively engage with content in ways that optimize their social media feeds, ensuring they see more of what matters to them. They are savvy about digital trends, data privacy, and content curation. Brands that want to reach millennials must ensure they create relevant, engaging, and personalized content that aligns with their interests. How can you help millennials get the content they want in relation to your brand?
5. The Age Of Transparency
Never underestimate how discerning this generation is. They research brands extensively, verify claims, and hold companies accountable for their actions. Whether it’s a brand’s sustainability efforts, workplace policies, or social impact, millennials demand openness and honesty. Companies that embrace transparency will find more success in building long-term relationships with millennial consumers. How can your brand be more upfront and transparent?
6. Travel & Live Events Are Aspirational But Not Always Attainable
This generation values experiences from a culinary opportunity to a concert or a football match – whether that’s American football or European football is a matter of debate. The cost of experiences is often managed through a combination of cash and points known as split tender. This generation has learned to juggle their credit cards - think Chase Sapphire, American Express and Capital One – to get the most points to achieve these experience economy goals and take the trip or catch the live event.
Embracing The Millennial Consumer Mindset
Millennials, whether parents or not, are shaping consumer trends in profound ways. Brands must understand their values, digital habits, and lifestyle choices to engage with them successfully. By embracing authenticity, social responsibility, and digital innovation, businesses can forge lasting connections with this powerful consumer demographic. If you want to be successful in your efforts to market to millennials, take direction from the findings above, adapt to their ever-evolving expectations and recognize at this moment there is more economic and political uncertainty since the onset of Covid.
Mary Van Note, a strategy expert at Ginger, summarized, “Millennials are the largest generational cohort but hold just 10% of the nation’s wealth. Millennial women are today’s Chief Worry Officer, concerned about all the burdens of work and household.”