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The Millennial’s Trillion Dollar Spending Power

Croud Of Millennials Holding Cell PhonesBeing the first generation to grow up using computers as part of their everyday lives, direct mailers and cataloger need to understand the millennial’s $1.4 trillion spending power and how these dollars are being spent. This consumer population (18 – 34) is the most under appreciated group that companies need to address.

Asset-flush Millennials with more than $100,000 in investable assets were three times as likely to explore investment opportunities on social networks or want to start a business of their own as Generation X.

Take into consideration:

  • LinkedIn and Ipso describe Millennials as more optimistic and entrepreneurial than the Gen X group.
  • A high percentage of Millennials prefer social networks.
  • According to the International Council of Shopping, Millennials are the most likely demographic to use their smartphones while shopping.
  • Millennials prefer marketing messages that entertain or enlighten them as opposed to messages that distract or interrupt them.

When you consider the Chief Marketer’s article on direct mail (see Direct Mail Recipients Look at Mail Differently) there is a balance of the old and new marketing channels this will capture the interests of the very dynamic consumer group.