Grown-up millennials have increasing purchasing power

The millennial generation, also known as Generation Y, which includes those born between 1980 and 1995, has increasing influence both in purchasing power and in ...

The millennial generation, also known as Generation Y, which includes those born between 1980 and 1995, has increasing influence both in purchasing power and in an ability to alter other generations’ spending habits, according to an Edelman Canada study released December 11.

“Millennials are not kids anymore,” said Edelman vice-president Robyn Adelson. “The oldest are turning 33, the youngest 18. They are a generation that now has families and careers of their own – not to mention an incredible amount of spending power.”

One finding that provides a glimpse of why this generation is punching above its weight when it comes to influence is that 57% feel the need to share their feedback with brands when they have a good or bad experience. That statistic is higher than other age groups, partly because millennials have grown up with social media and are active users of it.

Three-quarters of Canadian millennials (74%) said that they expect brands to entertain them. The top ways to do so include:

  • co-creation (40%);
  • sharing content online (30%);
  • sponsoring entertaining events (29%); and
  • real-time engagement on social media (27%).

gkorstrom@biv.com

@GlenKorstrom

comments powered by Disqus

Also Read

More From Economy

Aboriginal communities open routes to economic mainstream

Read Article

Economy

Insider trading, April 28, 2015

By April 28, 2015, midnight

The following is a list of stock trades made by corporate executives, directors and other company insiders of B.C.’s public companies filed the week ending ...

Read Article

Why experts say Vancouver is actually a viable option for a new home for HSBC

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×