The big news last week was Millennials are going to take the populous crown from Boomers this year tipping the strength in numbers scale at 75.3 million.
The shift is partially due to a growing death rate among Boomers, down from 78 million to 74.9 million now. Considering the Millennial birth year cut off is 1997 (widely debated at times), the Times reports new growth in the population was achieved by an immigrant influx.
With this news, marketers can finally admonish their begrudged attention to maturity and happy dance their way to uninhibited 18-34 year old demographic bliss –or so they’d like to think.
THE BIG SNAFU
Much has been written about the coveted spending habits of Millennials. Current data-centric marketing trends would have none of us think beyond the digital tracking of who/what/when/where/why this group buys. But all the data collection in the world still can’t trump the unpredictability of human behavior –aka the big snafu.
BBDO’s now iconic report on Millennial dining habits provides a transparent view on the matter. After an exhaustive survey of over 1,000 Millennials was made, the bottom line came down to one glaring result: the attitudes and behaviors of the demographic are often contradictory “…just like older generations.”
The BBDO SVP, who authored the study, told Media Post they just wanted to find the gaps. “We looked for a big ‘aha,’ but the most interesting part, for us, ended up being the contradictions.”
ASKED & LEARNED
Forbes called out The 11 Restaurants That Need to Cater to Millennials last year based on recent Nielsen studies – not one high-end restaurant was named. Chipolte (#1) and Panera (#2) were ranked as the top Millennial favorites.
Considering that nearly half of the BBDO respondents described themselves as “foodies”, one of the biggest contradictions within this group lays in their devotion to mainstream fast-food –Burger King, McDonald’s, et al. This, combined with an admitted conflict felt by a “top-of-mind” status when it comes to health, further muddles the population’s profile.
One of the most oxymoronic standouts in this group had to do with technology: 88% said they checked their phones at the dinner table, but 44% said they hated it when others did the same. (Classic snafu!) One in seven participants also wanted free Wi-Fi in restaurants.
When it comes to what matters most in how Millennials live their lives, honesty ranked the highest. This makes perfect sense in that Millennials also said they are “much more influenced by their friends’ opinions of a restaurant than by reviews on sites like Yelp.” When their friends make a recommendation, they listen.
Marketers need to take this little gem to heart as it speaks directly to the way social media pipelines and other marketing tools are used. Get the word out and allow the natural flow; running interference is a recipe for disaster.
Marketing to Millennials, consists of staying on top of trend and sticking to honest policy. Accept the inevitable – human nature will throw a wrench into best campaigns every time.
Where fast food and fast casual may take precedent with the younger set today, Millennials also deem food and eating meals with friends and family as an integral part of their lifestyle. That translates to a solid patronage for years to come.