Quick 5 Facts of Millennial of U.K.
Companies based in U.K. are fiercely competing to seek their share of millennial and this seems to be just the beginning of a fierce marketing environment. But the opinion and views on brand marketing among different groups seems to differ. With half of the millennial feeling that brands have the power to exert the sales for good with the remaining 40 to 50% voicing the opinion that brands exert a negative attitude when communicating.
To be more precise, around 54% of millennial according to a recent finding sincerely felt that brands aided in improving ecological as well as societal related issues. While the remaining 46% felt that brands could get engaged actively to work for better causes.
On the basis of a recent survey conducted on millennial in U.K. who shared contents on the social media, the following facts came to light. The younger millennial falling in the age group of 25 to 30 was intent in using social media in a more expressive way to earn greater respect. While those millennial falling in the higher bracket of around 30 to 35 age group used it primarily to express, appreciate others and share their opinions and thoughts.
With respect to usage of smart-phone devices, around 45 to 50% millennial of U.K. in comparison to 44% global millennial population admitted to have become addicts in using the same.
The above research survey has opened the eyes of various companies who want to connect with this millennial generation. These companies are now seeking newer and better ways to gain the span of attention of Gen Y as they feel the traditional marketing methods have become outdated and ineffective in gaining millennial attention.
Some companies strongly feel that there are many myths surrounding the millennial consumer such as they do not have any brand loyalty which they feel is totally inaccurate. Certain market research companies have even embarked on a comprehensive study to understand this generation.
The finding of these market research companies about the millennial was really an eye opener.
- Millennial are highly educated.
- They are career oriented.
- This Gen Y is most progressive politically.
- They show a great degree of loyalty with respect to brand products only if when the products are quality driven.
- The majority of millennial surveyed opined that they do not fall for advertising and would go for a brand only if they felt it met their needs.
The millennial opinion on renting a car and buying a house is somewhat divided, as some feel they would purchase a car and rent a house. While the other group felt they would buy a house first and then rent a car.
Millennial findings revealed that they depended more on social media and blogs content written by their peers before making any buy. The elder in the millennial group said they still depended on the traditional advertising media before making any buy.
The majority of the millennial voiced the opinion that they would give importance to the validity of the content as they believed that trusting a company or news site was essential before reading its content.
Millennial a potent digital force in the United Kingdom are likely to have a major economic impact as they are a unique breed who are known for looking at the world with the lens called technology.