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BBC Research: Brands matter to affluent millennials



By
04 December 2016




An October 2016 survey by BBC Advertising has found that 70% of affluent millennials call brands "integral" to their lives.

Comparing affluent (in top 25% income bracket for their country) millennials with non-affluent millennials worldwide:

  • "My favorite brands play an integral role in my life" - 70% of affluent agree vs. 51% of non-affluent
  • "I am a brand-conscious person" - 67% vs. 48%
  • "I expect brands I like now to play an integral role throughout my life - 64% vs. 49%
  • "I feel a strong emotional connection with brands I purchase" - 60% vs. 48%
  • "I am defined by the brands I purchase" - 60% vs. 44%

Survey also found that more affluent than non-affluent millennials agreed that:

  • "Creativity is important to me"
  • "I look after my appearance/image"
  • "I always like to try new products"
  • "I tend to buy premium versions of a product"


Note that neither sample size or countries of respondents is stated.

But for any marketer with a product/service that lends itself to being branded as image-enhancing for millennials, that affluent subsegment looks like a good target. It's good news that they "like to try new products" and expect their favorite brands to "play an integral role throughout [their lives]". Looks like loyalty isn't dead.




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David Boggs    - David
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External Article: https://www.emarketer.com/Article/Affluent-Millennials-Brands-Matter/1014762



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