If you ever had any doubt about the power of millennials and their effect on the American economy read on. According to Pew Research, Millennials (also known as Generation Y) are defined as those individuals born after 1980 and the first generation to come of age in the new millennium. They are currently between the ages of 21 and 34 and at more than 75 million, make up the largest consumer group in the United States. By 2036, that number is projected to grow to more than 81 million.
At Highbrid Media, we’ve discovered through our research that the nucleus of influence or the drivers behind buying trends and behavior amongst this group is held within its most diverse sectors, a subset we’ve defined as Multicultural Millennials. We’ve dedicated a tremendous amount of time and resources exploring the research not just from a quantitate but also qualitative perspective to help our clients better engage with this very important demographic group. Adweek recently published an article featuring research from Buzz Marketing Group which illustrates media, tech and shopping trends coming from this segment. Numbers will only give you part of the picture, knowing how to interpret and capitalize on these perceived opportunities is where winning strategies are birthed. Here are 5 statistics to prove that Multicultural Millennials Run the World.