What Are The Typical Characteristics Of Millennials And Why It Matters
In the second post of our micro-series on generational segmentation, we cover the characteristics of Millennials.
Generation Y, also known as Millennials, are those who are born between 1980 and 2000. This generation represents Digital Natives and are considered more distracted than their older counterparts. They are characterised by an ability to learn quickly, prefer flat organizations and consider work-life balance very important. Some say they are highly self-centered but also have a good level of social consciousness. The “Why” for any activity is bound to connect with a Millennial far more than a “How” (which they will learn quickly). Millennials live with their parents or rent homes rather than owning one. They also delay marriage and kids longer than earlier generations. Despite their love for freedom, Indian Millennials are still not that successful in shaking off their parents’ expectations. They also do feel connected to their culture and tradition. This generation has been raised to believe that anything is possible, and is often thought to be unsure of what they want.
Why is it important to know all this about Millennials? As a marketer, if your product is targeted towards this segment, then it’s important that you do your research about the segment’s values and beliefs. This is crucial in shaping marketing communication directed towards them.