Millennials

There is nothing average about Europe’s Affluent. Understanding the behaviour of Europe’s Affluent is crucial to marketers, not only do they have the majority of disposable income in the region but as early adopters and opinion formers, where they lead others follow. However, it would be a mistake to think of them as in anyway average.

What is the difference between luxury and mass market today? As premium brands grow and deliver constantly new experiences and personalised services, they are redefining the frontier between the two worlds, which is now more blurred than ever.

When it comes to marketing to the Millennial generation across Asia, brands must be authentic and relevant. This was the consensus from a recent panel session on understanding young people in the region, held by the American Chamber of Commerce in Singapore.

It seems hard to get away from the word ‘Millennial’ these days.
Everywhere you look there are new articles, studies, findings and revelations about how brands can better engage with and tap into this group of consumers. And why wouldn’t they want to? Millennials are on the cusp of having more spending power than any other generation in history: an estimated $200 billion annually by 2017. Understanding this group of consumers is critical for marketers — what motivates them, keeps them up at night, shapes their behavior and attitudes, and so on. To answer these questions, we have to know how to engage them in research.

Every generation has its challenges and its defining moments, usually underscored by the times they live in. Today’s young adults are no different. As they come into their own, the Millennial generation – ages 18-31 for this study – faces a set of challenges that reflects the new realities of our economy and technology.