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Millennials

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They are the American historians Neil Howe and William Strauss, who used the term millennials for the first time in 1989. However, it took about fifteen years for the word to begin to be widely used, initially, in the field of marketing. According to Howe and Strauss, a millennial is a person born between 1980 and 1995 and is characterized by having a rational spirit, a positive attitude, a great sense of team and self-denial .

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Who are the millennials?

Millennials, commonly called Generation Y, are people born between the years 1980 and 1995 . This age category has as a common point the fact that they have grown up during the evolution of new technologies and communication and that they use these gadgets in their daily lives. Another expression used to refer to millennials is digital natives .

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On the other hand, there are certain clichés around this expression. The millennial is considered a young man who travels a lot and who cares about the environment . In general , it is a person who has completed higher education and who adapts to the difficulties of the world of work . In effect, he is an overqualified professional .

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  • Millennials characteristics
  • Types
  • Lifestyle
  • Consumption habits
  • Millennials work
  • Needs
  • Millennials by country

Millennials characteristics

  • They place great importance on the notion of flexibility in their lives. Hence, the profound changes that currently occur at the work level in terms of schedules.
  • They have had access to information and communication technologies from an early age.
  • They have a great sense of innovation.
  • Compared to previous generations, millennials are characterized by a historically high level of education . However, their diplomas are not a guarantee of employment and in that sense, they spend a lot of time being financially dependent.
  • Digital technologies have allowed them to minimize the notion of distance, allowing them to develop a culture of immediacy in communications and access to information.
  • Millennial women are the first generation of mostly working mothers.
  • Both millennial women and men seek a balance between personal life and professional life . It is perhaps for this reason that millennials prefer to found a family later than previous generations.
  • A large percentage of millennials are used to sharing their opinions and positions.

Types

  • Hip-ennial:  the prefix hip comes from hipster since this type of millennial identifies with this movement. In that sense, as consumers they prefer to use organic products. They make up 30% of this generation.
  • Millennial Mom:  in type it is made up of women who have their children as a priority in life. This approach leads them to seek jobs that allow them to dedicate themselves more to their children. Likewise, as consumers they opt for brands related to the children’s sector. This group makes up 22% of millennials.
  • Anti-millennials:  although those who are part of this group belong to the generation of millennials, they do not identify with its principles and characteristics. Hence, the name anti-millennials. They are generally conservative and show disinterest in trends. On the other hand, they prefer to spend time in familiar surroundings and stay away from noise and interruptions.
  • Gagdet-guru:  this type of free and confident millennials is in a constant search for innovative products at a technological level. They usually contribute with the contents that are in the network. At an economic level, they receive an income above the common average. They make up 13% of millennials and their male population is larger than the female.
  • Green / Clean millennials:  this is a small group of millennials that make up 10% of this generation and feel very involved with environmental protection measures. They are the youngest of this generation and are generally male or of Hispanic origin.
  • Old School Millennial:  These millennials are cautious consumers and have an independent, confident, and charitable personality. Although they were born immersed in the world of new technologies and the Internet, they prefer more traditional activities such as reading instead of spending time online. They are usually older than the rest of the millennials.

Lifestyle

  • They generally live together rather than having their own place to live. Indeed, according to certain studies, only 22% of millennials wish they had a home of their own. This could be due to an economic situation that has diminished purchasing power and saving capacity.
  • The fact found a family not a priority for this generation. For this reason, they tend to marry at an older age compared to previous generations. Likewise, millennials do not aspire to have a child and only 13% of those surveyed have this goal.
  • Millennials care about their health and well-being . In fact, they prefer to invest more money in healthy and beneficial foods for their body.
  • He is an urban young man who privileges life in the city . However, there are others that are rather concentrated in peripheral areas. It is also important to note that many of the millennials tend to be eco-friendly.
  • They tend to use public transport . Apparently this trend actually affects all generations due to financial constraints.

Consumption habits

In general, millennials do not show interest in physical sales spaces since they consider that a lot of time is wasted searching through a range of products and a lot of time waiting at the checkout to pay. Certain studies have revealed that this generation prefers to make their purchases through e-commerce sites . For example, in the American market, the application of the e-commerce company ranks first in terms of the preferences of millennial users.

Another aspect that should be emphasized is that millennials are better informed consumers regarding the characteristics of the products offered by the market and do not hesitate to visit various e-commerce sites to compare their prices and benefits.

In the food sector, millennials distrust big brands and ask for more transparency and information regarding the origin and nutritional value of what they consume.

Millennials work

Millennials live in a time when technological advances have blurred the boundaries of the workplace. It seems that the workplace is now, the computer laptop and even smartphones.

In a different vein, this generation no longer considers spending their entire lives in the same workplace. Indeed, millennials would be willing to seek new horizons in the professional field even when they are satisfied with the job position they occupy.

On the other hand, technological advances as well as new ways of communicating and expressing oneself have given rise to new jobs and new job functions. Among them, we can highlight the following:

  • Community manager: this is an occupation that consists of animating and leading web communities for a company or brand account. The people who exercise this occupation have the important mission of managing the image and notoriety of the company or brand for which they work on the network. It does this through the publication of valuable content and the debate and exchange of experiences among the members of the community.
  • Photographer: with the impact of platforms such as Instagram, the work of a photographer has been reinvented and occupies an essential place in the framework of social networks.
  • Blogger: this person is basically in charge of writing and publishing content for a brand or a company. The themes are varied and can include cooking, sports, beauty, travel, among others.
  • Influencer: it is a person with the ability to influence the behavior of a significant number of consumers. It produces content that can be published on a blog, on a YouTube channel or on other social networks. Thus, he sells himself as an expert in his field, gives advice and recommends the purchase of products or services. It is present on social networks and gathers an active and committed community.
  • App developer : this is a professional in charge of developing mobile applications for smartphones, tablets, etc. Likewise, you can have the mission of optimizing applications that have already been created or of adapting them to websites with mobile support. This professional can work on applications dedicated to Windows Phone, Blackberry, Android or iOS or even propose applications compatible with various operating systems.
  • SEO specialists: the SEO consultant knows the rules established by search engines and uses them to achieve the visibility of websites and position them in the first search results. The term SEO refers to the Anglo-Saxon expression Search Engine Optimization.

Needs

Among the needs of the millennial generation, the following can be highlighted:

  • Autonomy and flexibility of schedules . The focus is not on sticking to a work schedule but on performing tasks effectively.
  • Opportunities to learn and grow constantly.
  • Relaxed workspaces . This generation is increasingly distancing itself from standards and codes. For this reason, companies increasingly include areas for entertainment and rest in their workplaces.
  • Significant jobs .

Millennials by country

In Spain

In Spain , millennials constitute around 8 million inhabitants . In the Iberian country, the so-called generation Y grew up in a better economic and political context than that of previous generations. However, as they reached adulthood, the crisis changed the favorable conditions for them. Perhaps this is why Spanish millennials feel that society is indebted to them.

In terms of employment, millennials in Spain do not aspire to obtain a long-term contract in companies. In fact, they want a stable job that allows them to balance their professional development and their social life. They privilege over work, sex, family and friends.

On the other hand, young Spanish millennials do not aspire to have a car or a home as they did with previous generations. Other goods and services like a smartphone and a good internet connection are more important to them.

In Mexico

Mexican millennials constitute the largest labor group in their country . Likewise, the consumer market is led by this generation. It is important to emphasize that Mexico has 30 million millennials, which represents more than 30% of the population in this country.

In the workplace, Mexican millennials are not satisfied with a job that does not allow them to evolve. For them, entrepreneurship or the search for a job that offers them freedom and flexibility in their daily lives are more important than job stability. When it comes to politics, Mexican millennials don’t trust politicians.

On the other hand, Mexican millennials tend not only to interact with others through networks but also on a personal level.

In Argentina

In this country, generation Y makes up a third of the population and they are young people who prefer to invest in experiences instead of buying products or physical goods. Annually, Argentine millennials spend around $ 200 billion on outings and events. This could reveal a departure from materialism .

On the other hand, in terms of their life purpose, Argentine millennials, unlike millennials in the world, are interested in founding a family (23.9%). In addition to that, others express their interest in traveling (19.4%) and developing at a professional level (19.2%).

Regarding their hobbies, Argentine millennials show interest mainly in sports and music . Very few are interested in ecology or religion.

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