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

Canadian companies are still in reactive mode when it comes to having foreign exchange strategies: survey

Read Article

Economy

Insider trading: May 3, 2016

By May 3, 2016, 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 in the week ...

Read Article

A look back at Vancouver’s Expo 86, which opened 30 years ago today, and some of the lesser-known aspects of the 165-day fair and its ...

Read Article

Businesses in British Columbia pay some of the highest taxes among Canadian provinces, but individuals in B.C. pay relatively low taxes, according to a Conference ...

Read Article

Inventory of companies with negative working capital listed on the Toronto stock exchange growing, analysis finds 

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

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