By Cathy Saraniti, GfK
Millennial is the magic word for many marketers. Consumers in this coveted target, however, are not all alike, and many marketers in the United States are splitting Millennials into younger and older subsets. It makes perfect sense. Being 20 years old and being 37 are quite different: 20 to 24 year olds are just starting out on their own (a mother can hope) versus being more established at 25 to 37. Their outlooks often differ, as do their media preferences and receptivity to advertising, according to GfK MRI’s Survey of the American Consumer.
Thinking of Millennials as a single target can blur distinctions marketers need to make decisions. But looking at younger and older subsets shows what’s most important at different points in the Millennial spectrum.
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As an example, let us compare Millennial women — younger and older — through their fashion attitudes and media-related activities.
Millennials Divided by Fashion Attitudes
Millennial women are the voice of women’s fashion. They have strong preferences and – by simply getting dressed in the morning — they help set trends: they are 60% more likely than typical women to influence others’ fashion choices. As a whole, Millennial women are more likely to express a range of fashion opinions. But as younger and older subsets, they often express those opinions to different degrees. Those distinctions could impact the way advertisers and agencies approach Millennials.
Younger Millennials (20 to 24) are more likely than 25 to 37 year olds to care about making impressions, choose trends over quality, and be brand loyal. To remain trendy, they are more likely to refresh their wardrobes at the start of each season and rely on magazines for fashion information. They index higher (181) than older Millennials (index 152) for being “Fashion Category Influencers”: consumers who are deeply familiar with fashion, based on their answers to the Category INFLUENTIALS battery in the Survey. Influencers frequently make recommendations across broad social networks, are highly trusted, and are word-of-mouth-leaders.
Older Millennials index higher than their younger peers for seeking customization in fashion and for using shopping/retail apps. They have money to buy clothing, and they’re willing to spend it; 25 to 37 year olds have an index of 153 for spending $3,000 or more a year on clothes.
Making Marketing, Advertising and Media Connections
Considering Millennial women as a single target can mask the different media behaviors of younger and older female Millennials. But when looked at as subsets, distinctions appear that marketers can use to build strategies. For example, younger Millennials index higher (166) than older ones (140) for heavy Internet use, and they are slightly more likely (Index 116) to be heavy magazine readers. The younger group has an index of 167 for reading Women’s Fashion magazines, and an index of 135 for saying they rely on magazines to stay up to date on fashion. Older Millennials, on the other hand, index 113 for having heavy exposure to outdoor media.
Their activities on social media differ, too. The older set has a higher index (156) for rating or reviewing a product or service via social media (20-24 year olds index 119) while younger Millennials are more likely to “follow”/become a “fan of” something or someone (indices 211 versus 171). The younger group is also more likely to be receptive mobile advertising:
Millennial women have a lot to offer fashion marketers — fashion is important to them and the way they dress influences the styles others choose. Marketers can get more from Millennials when they develop strategies that ring true with the preferences of younger and older sets within the broader target. That said, I will practice what I preach: I’m going to ask my 24 year-old-daughter what to wear to an upcoming dinner party.
Cathy Saraniti is a Senior Vice President at GfK MRI. She can be reached at Cathy.Saraniti@gfk.com.
