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Survey: Millennial trends and spending patterns

02 December 2017 (Edited 02 December 2017)

Investment bank ROTH Capital Partners has reported results of its 2017-2018 Millennial Survey.

Some findings:

  • 74% are optimistic about the economy in 2018.
  • 32% shop online, and 43% research online before buying offline.
  • 22% use sharing-economy services besides ride-sharing apps.
  • 45% use a third-party delivery service when ordering take-out.
  • Millennials are spending more than other generations.
  • Millennials are inspired to buy products or brands primarily through websites, online apps and social media.
  • Millennials seek out experiences and brands that speak to them, tend to resist being marketed to.

Consider those last two items. Millennials acquire preferences for products or brands from online interactions (maybe primarily with peers), then seek out brands that will deliver an experience consistent with the preferences so acquired. And ignore competing products/brands being marketed to them. Under those circumstances, it looks like we need to concentrate on getting our offerings top-of-mind with millennial thought-leaders. Trickle-down marketing, sort of.

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David Boggs    - David
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External Article: http://www.businesswire.com/news/home/20171106006270/en/ROTH-Capital-Partners-Releases-2017-2018-Millennial-Survey

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