Millennials and money – two topics nearly every marketer is interested in. In this month’s edition of the Ipsos Affluent Intelligencer we’re taking a look at this key audience demographic to share a few interesting findings around how they view money and manage their finances.
With Millennials at a critical life stage for making many life decisions, it’s important for marketers to understand their values, expectations and behaviors. This, combined with an understanding of where they plan to spend their money, can help guide communication strategies to best help them navigate these stages and decisions.
Read on to learn more about this key audience.
Source: Ipsos Affluent Survey, Fall 2018. Based on individuals with HH Income $125K+.
Despite Millennials being the demographic most likely to live paycheck to paycheck (38% vs. 21% of Gen X or 8% of Boomers), their median household income is in line with other generations, and, in fact, comes in slightly higher than Gen X.
It’s widely understood that key life events are often triggers for spending and activity in many categories, notably financial services. Millennials index highly on the life plans below, with notable disparities between younger and older Millennial groups.
Although Millennials describe themselves as risk takers – which coincides with the trailblazing behaviors we’ve seen across many categories – when it comes to investing, they are a conservative group. This is especially pronounced when comparing the proportion of Millennial males (48%) to Millennial females (38%) saying the stock market is too risky.
Contact us to learn more about the Millennial insights uncovered in the Ipsos Affluent Survey or for information on subscribing. Also, look for our Millennial focused digital audience offerings that can be found in your DMP, ad server, or digital exchange.