A recent study into the preferences of millennials found that, unsurprisingly, they are the most highly engaged group when it comes to mobile technology. The research provides yet more evidence that any forward-thinking marketing campaign must take this demographic seriously.
Among the key findings:
- 94% of millennials regularly use apps with geo-location technology, with both Android and Apple users equally keen on such tools
- A majority of millennials (84%) say they act on push notifications, with men responding at a slightly higher rate than women, and more iPhone users (92%) responding to push notifications than Android owners
- In terms of the kinds of information millennials are looking for, 61% like coupons or discounts for immediate use; 35% prefer to receive the latest product information; only 16% of respondents said they used mobile devices for ‘in-store guidance’
The 500 millennials surveyed also described the circumstances in which they would not respond to a push notification. The most common reasons were: lack of relevance (39%); intrusiveness (34%); receiving too many notifications (25%) and a lack of attractive deals.
As esoteric as they can appear, these studies provide crucial information to the modern business. Millennials now outnumber baby boomers, and their buying power is at an all-time high. Even with a slower economy and higher cost of living than their parents enjoyed, one can reasonably expect millennials to continue increasing their financial clout. Right now, the median income for those at the younger end of the demographic (ie born in the 90s) is around $25,000; thirtysomethings towards the top of the range earn double that. With 23% having a bachelor’s degree or higher, millennials are the most highly educated generation in history.
The study - conducted by Retale - is just one fraction of the market research honing in on millennials, and how to predict and capitalize on their preferences and habits. Research from Zogby corroborates the suggestion that millennials are more wedded to their mobile device than any other group, with 87% reporting that their phone ‘never leaves their side’ and 80% claiming the first thing they do in the morning is to reach for their smartphone. Around 78% said they spend at least two hours per day on their phone.