2016 Millennials and Brandsmillennials-documents.s3.amazonaws.com/2016... · Q10 Which of the...

MILLENNIALS AND BRANDS

Prepared by: QNAMay, 2016

CONTENTS

2

Background and Objectives

Methodology

Respondent Profile

Generational Characteristics

Brand Values

Self-Expression Through Brand Choices

Brand Choice Scenarios

Brand Switching

3

4

5

24

30

35

40

45

BACKGROUND AND OBJECTIVESQNA, 88 Brand Partners and Rockpile Strategies recently collaborated to conduct a survey of the Millennial generation in order to explore their relationships with service-related brands. The goals of this research are as follows:

• Understand how Millennials differ from Generation X and Baby Boomers

• Explore the truth behind stereotypes and common “wisdom” about Millennials

• Validate Millennials’ core values when it comes to brand relationships

• Explore how Millennials engage with “intangible brands,” particularly financial and healthcare brands and others in the service industry

• Develop strategic insights to help service-related marketers position their brands to make a deeper connection with Millennials

This report summarizes all data points from the research for the three generations being compared: Millennials, Generation X and Baby Boomers.

3

METHODOLOGYData was collected from 1,490 consumers in February 2016 via a online survey. Respondents were identified using a national panel of consumers.

The survey consisted of 33 questions. Major topics addressed in the survey include the following:

• Lifestyle factors

• Employment and economic profiling information

• Attitudes toward societal institutions

• Brand evaluation and differentiation

• Generational traits and characteristics

• Demographics

4

RESPONDENT PROFILE

5

SAMPLE DISTRIBUTIONA total of 1,218 valid and complete surveys were collected. Quotas were set in order to obtain representation from the generational groups shown below.

A total of 791 Millennials participated in the study.

Generational Segment Completed Surveys Margin of Error

Younger Millennials (born 1989-2000) 380 +/- 4.4%

Older Millennials (born 1982-1988) 411 +/- 4.1%

Generation X (born 1965-1981) 222 +/- 6.6%

Baby Boomers (born 1946-1964) 205 +/- 6.8%

TOTAL 1218 +/- 2.5%

6

Male, 42%Female, 58%

MILLENNIALS

DEMOGRAPHIC PROFILEA slight majority of respondents in each generation identify as female.

Q12 Do you identify your gender as…? 7

Male, 43%Female, 57%

BABY BOOMERS

Male, 38%

Female, 62%

GENERATION X

DEMOGRAPHIC PROFILEA majority of respondents across all the generations describe their ethnicity as Caucasian.

Millennials include significantly more non-Caucasian respondents.

Q4 Which of the following ethnic groups do you identify with? 8

76%

8%14%

1% 2% 4%

80%

7%10%

1% 1%3%

91%

5%2% 1% 2% 2%

0%

20%

40%

60%

80%

100%

Caucasian African-American Asian Native Hawaiian/API

Native American/Alaskan

Other

ETHNICITY

Millennials

Generation X

Baby Boomers

DEMOGRAPHIC PROFILEMore than one in ten Millennials report that they have Hispanic or Latino heritage, a significantly greater distribution than among Baby Boomers, but similar to Generation X.

Q3. Are you of Latino or Hispanic Heritage? 9

12% 11%

3%

0%

20%

40%

Millennials Generation X Baby Boomers

HISPANIC OR LATINO HERITAGE

EDUCATIONAL PROFILEDespite their younger age, the educational profile of Millennials does not differ dramatically from Generation X or Baby Boomers.

Overall, 48% of Millennials have completed at least a college degree, compared to 54% of Generation X and 47% of Baby Boomers.

4%

15%

23%

10%

29%

16%

4%2%

12%

19%

14%

31%

19%

4%2%

14%

24%

14%

26%

19%

2%

0%

20%

40%

Some high school

High school Some college Associate's Degree

4-year college degree

Some post-graduate

Graduate or professional

degree

EDUCATION

Millennials

Generation X

Baby Boomers

Q5 What is the highest level of education you’ve completed? 10

EDUCATIONAL PROFILEAbout one in three (32%) Millennials are currently in school pursuing some type of degree or certificate. Of these, a majority (73%) are attending school full-time.

Q6 Are you currently in school pursuing some type of degree or certificate? Q7 Are you going to school full time or part time?

11

32%

14%

4%

0%

20%

40%


CURRENTLY PURSUING DEGREE/CERTIFICATE

Full-time, 73%

Part-time, 27%

MILLENNIALS IN SCHOOL

EMPLOYMENT AND FINANCIAL PROFILEAlmost three-quarters of Millennials (70%) report that they are currently employed.

Of these, most are working full time (at least 35 hours per week). About one in four Millennials are working less than full time on average.

Q8 Are you currently employed?Q9 Approximately how many hours do you work in a typical week?

12

70%77%

53%

0%

20%

40%

60%

80%

100%


CURRENTLY EMPLOYED

More than 40 hours/week,

34%

35-40 hours/week,

42%

25-34 hours/week,

13%

Less than 25 hours/week,

11%

MILLENNIAL EMPLOYMENT

EMPLOYMENT AND FINANCIAL PROFILEAmong those who are employed, a majority in each generation report having one full-time job. Just 9% of Millennials report having multiple jobs.

Q10 Which of the following best describes your current employment situation? (Base: currently employed) 13

69%

23%

5% 4%

81%

12%

5%2%

67%

23%

5% 6%

0%

20%

40%

60%

80%

100%

One full-time job One part-time job Two or more part-time jobs Full-time and part-time jobs

TYPE OF EMPLOYMENT

Millennials

Generation X

Baby Boomers

EMPLOYMENT AND FINANCIAL PROFILEAlthough Baby Boomers are most apt to report that they are self-employed, a surprising number of working Millennials (13%) say they are self-employed in one or more of their jobs.

Q11 Are you self-employed in one or more of your jobs? (Base: currently employed) 14

13% 14%

23%

0%

20%

40%


SELF-EMPLOYED

EMPLOYMENT AND FINANCIAL PROFILEAs would be expected, older generations report higher income levels. However, one in four Millennials in this study report relatively high incomes over $100,000.

Q29 Is your total pre-tax household income between the ranges of…?15

3%

6%

8%

8%

14%

13%

14%

15%

18%

19%

21%

18%

15%

12%

13%

15%

6%

8%

15%

10%

6%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

INCOME

$200K or more $150K-$199K $100K-$149K $75K-$99K $50K-$74K $35K-$49K Less than $35K

EMPLOYMENT AND FINANCIAL PROFILECompared to older generations, Millennials are more apt to believe that they are better off financially today than they were a year ago. Almost half (46%) agree with this optimistic perspective, compared to just 22% of Baby Boomers.

Q31 How are your financial circumstances compared to one year ago?16

46%

39%

22%

37%

39%

57%

17%

22%

22%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

FINANCIAL CIRCUMSTANCES

Better off than one year ago About the same financially Worse off than one year ago

EMPLOYMENT AND FINANCIAL PROFILEAcross all three generations, respondents are most apt to say that they grew up in a middle class household. However, a slightly larger share of Millennials say their upbringing was at or above middle class, compared to Boomers.

Q32 Thinking about the environment you grew up in, would you say it was…17

2%

1%

2%

17%

16%

15%

49%

52%

48%

22%

25%

27%

9%

5%

9%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

CHILDHOOD FINANCIAL CIRCUMSTANCES

Affluent Upper middle class Middle class Lower middle class Lower income

LIFESTYLEMillennials are most likely to be renting a home or apartment (46%) at this stage of their lives.

More than one in four (29%) reports that they are living with a parent or other relative. Just 24% currently own their own home or condo.

Q14 Which of the following best describes your current living arrangements?18

29%

8%

2%

23%

20%

8%

23%

7%

5%

24%

64%

85%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

LIVING ARRANGEMENTS

Live with parents or other relative Rent and live on own/with spouse/child

Rent and live with roommates Own home or condo

LIFESTYLEMillennials are significantly more apt to report living in urban settings (36%), compared to older generations, who skew suburban.

Q13 Which of the following best describes the area where you live? 19

36%

49%

15%

25%

58%

18%18%

55%

27%

0%

20%

40%

60%

80%

100%

Urban Suburban Rural

COMMUNITY SETTING

Millennials

Generation X

Baby Boomers

LIFESTYLEThe majority of Millennials report that they are single and never married (66%). Only about a third of Millennials (32%) are currently married.

Q15 What is your marital status?20

66%

20%

10%

32%

69%

74%

0%

1%

3%

1%

9%

13%

0%

1%

1%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

MARITAL STATUS

Single, never married Married or domestic partnership Widowed Divorced Separated

LIFESTYLEOne in four Millennials (25%) report that they have children. Of these, nearly all say their children are living with them.

Q17 Do you have any children?Q18 Do your children live with you at least some of the time?

21

25%

71%77%

0%

20%

40%

60%

80%

100%


HAVE CHILDREN

Yes, 99%

No, 1%

MILLENNIALS WITH CHILDRENIN HOUSEHOLD

LIFESTYLEAcross all three generations, the largest share tend to identify as “middle of the road” on the political spectrum. Millennials are less than half as likely than Generation X or Baby Boomers to self-identify as strongly conservative.

Q30 Which of the following best describes your political viewpoint? 22

14%

24%

41%

15%

6%9%

19%

41%

19%13%

9%

22%

34%

22%

14%

0%

20%

40%

60%

80%

100%

Strongly liberal Somewhat liberal Middle of the road Somewhat conservative Strongly conservative

POLITICAL VIEWPOINT

Millennials

Generation X

Baby Boomers

GENERATIONAL CHARACTERISTICS

23

GENERATIONAL CHARACTERISTICSRespondents were presented with a list of personality traits and asked to select those that best represent them personally. A majority of Millennials self-selected the traits shown below, with hard working and realistic being the most popular traits overall.

PERSONAL CHARACTERISTICS(selected by a majority of Millennials)

Millennials(%) Generation X (%) Baby Boomers

(%)

Realistic 64 67 78

Hard-working 63 72 68

Open-minded 63 60 60

Fun 62 53 52

Real, not fake 58 64 69

Adaptable 55 57 58

Creative 54 44 38

Multitasking 52 57 51

Q22/24 Please review the list and select the traits that you feel represent who you are as a person. 24

GENERATIONAL CHARACTERISTICSAlthough not selected by a majority, the traits listed below are fairly common among Millennials and were selected by at least one in three members of that generation.

PERSONAL CHARACTERISTICS(selected by 30%-50% of Millennials)


(%)

Ethical 50 60 70

Trusting 49 57 54

Socially aware 44 46 47

Authentic 43 46 55

Cautious 43 43 55

Sarcastic 42 28 22

Successful 41 50 47

Optimistic 41 46 51

Modern 40 32 24

Ambitious 40 37 22

Adventurous 39 37 27

Social 39 39 33

Career-minded 38 27 12

Tech savvy 34 25 22

Savvy 33 30 33

Wellness-oriented 30 33 39

Environmentally-conscious 30 35 46

Q22/24 Please review the list and select the traits that you feel represent who you are as a person.25

GENERATIONAL CHARACTERISTICSOnly about a quarter to a fifth of Millennials identify with traits below. For some—particularly charitableand patriotic—it is notable that members of older generations identify much more strongly with them.

PERSONAL CHARACTERISTICS(selected by 20%-29% of Millennials)


(%)

Spiritual 28 40 47

Charitable 28 41 55

Patriotic 24 32 60

Innovative 27 25 21

Humanistic 27 27 34

Simplified 26 37 35

Nostalgic 25 21 31

Collaborative 26 27 22

Religious 24 28 32

Risk-taker 22 18 16

Diverse 23 19 22

Cynical 20 16 18


GENERATIONAL CHARACTERISTICSRelatively few respondents in any of the three generations self-identify with the traits below, which tend to be more self-centered.

PERSONAL CHARACTERISTICS(selected by less than 20% of Millennials)


(%)

Rebellious 17 15 12

Entitled 8 15 12

Entrepreneurial 12 12 11

Wealth-oriented 12 11 9

Spoiled 10 5 6

Hip 10 9 3

Self-centered 10 5 3

Glamorous 10 5 1

Early adopter 10 7 5

Status-seeking 7 3 1

Unplugged 5 5 6

Arrogant 4 4 1


ATTITUDES TOWARD SOCIETAL INSTITUTIONSSignificant differences were observed across generations when it comes to attitudes toward societal institutions like advertising, the business world, government, and religion. Millennials differ most substantially from older generations when it comes to their desire to be connected via social media.

Millennials(mean rating)

Generation X (mean rating)

Baby Boomers (mean rating)

I have a lot of confidence in my ability to evaluate the quality and accuracy of information I find online or through my social network

3.8 3.8 3.7

Advertising is a good way to learn about new products and services 3.6 3.9 3.7

I prefer to contact a real live person (face to face or over the phone) instead of using social media/email when dealing with a company whose products/services I use

3.4 3.5 4.0

Advertising is usually deceptive and doesn’t tell the truth 3.4 3.2 3.1

The strength of the country is mostly based on the success of American business. 3.3 3.6 3.7

When something is run by the government, it is usually inefficient and wasteful. 3.2 3.5 3.6

Corporations promote people up through the management ranks based primarily on merit and competence 3.0 2.9 2.9

When people have strong religious beliefs, it improves society as a whole 2.8 3.3 3.3

When I am not connected via social media, I feel like I am missing out on things 2.8 2.6 1.9

Q23 Please rate your level of agreement with the following statementsRatings in green are significantly different from Generation X, Boomers, or both.

28

BRAND VALUES

29

BRAND VALUESWhen presented with a series of characteristics that brands might possess, Millennials are like older generations in identifying best quality as most important in helping generate a sense of loyalty and commitment to a brand. Brands that are forthcoming about problems that come up are also highly valued.

Q25 Please rate how important each item is in helping you feel a sense of loyalty and commitment to that brand. (1-10 rating)

7.6

7.6

8

8.3

8.7

7.5

7.8

7.7

8

8.3

7.3

7.6

7.7

7.7

8.1

0.0 2.0 4.0 6.0 8.0 10.0

Willing to change their product or service based on consumer opinion

Offers the lowest prices or rates

Conveys authenticity in what it says and does

Is forthcoming about problems

Offers the very best quality

Most Important Brand Characteristics

Millennials Generation X Baby Boomers30

BRAND VALUESCharacteristics that are moderately important include reward programs, convenience, fair labor practices, and creativity.


7

7.3

7.7

7

7.7

7.3

7.1

7.4

7.3

7.6

7.1

7.2

7.2

7.1

7.3

0.0 2.0 4.0 6.0 8.0 10.0

Offers customer reward program

Creative when it comes to offering new products and services

Engages in fair trade and labor practices

Available to me 24/7

Provides a service experience customized to my lifestyle

Moderately Important Brand Characteristics


31

BRAND VALUESCharacteristics that are least important across all generations include charitable giving, advertising, and heritage. The importance of reaching out via social media ranks lowest, but Millennials are significantly more apt to value this feature.


4.7

7.1

6.6

6.5

5.6

6.9

6.7

6.6

6

6.3

6.6

6.7

0.0 2.0 4.0 6.0 8.0 10.0

Reaches out to/interacts with customers via social media

Has a long history and heritage

Advertises about what makes their products unique/relevant

Engages in charitable activities using business expertise

Least Important Brand Characteristics


32

BRAND VALUES

Q26 Please tell us whether you feel that is something that describes most brands, describes some brands, or only describes very few brands.33

19%

12%

10%

8%

8%

8%

6%

6%

7%

7%

7%

6%

7%

6%

5%

47%

44%

36%

34%

39%

39%

25%

24%

35%

24%

28%

29%

31%

27%

26%

31%

36%

42%

48%

47%

43%

53%

48%

50%

58%

49%

51%

51%

52%

54%

4%

8%

12%

10%

7%

10%

16%

21%

8%

11%

16%

14%

12%

15%

15%

0% 20% 40% 60% 80% 100%

Advertises about what makes their products unique/relevantReaches out to/interacts with customers via social media

Available to me 24/7Offers the very best quality

Creative when it comes to offering new products and servicesOffers customer reward program

Environmentally friendly and sustainableIs forthcoming about problems

Has a long history and heritageOffers lowest prices or rates

Engages in fair trade and labor practicesConveys authenticity in what it says and does

Provides a service experience customized to my lifestyleEngages in charitable activities using business expertise to …

Changes products/services based on customer opinion

BRAND PERFORMANCE

Most A Lot Some Few

Across all respondents, brands are said to be most apt to deliver on two factors that rank fairly low in importance—advertising and social media.

In contrast, one of the most important factors—being forthcoming about problems—is viewed as a fairly rare characteristic.

SELF EXPRESSION THROUGH BRAND CHOICES

34

SELF EXPRESSION THROUGH BRAND CHOICESCompared to older generations, Millennials are significantly more apt to believe that the brands they choose are a reflection of themselves.

Q27 Thinking about the brands you choose to use, please rate your level of agreement with the following statements.35

46%

42%

29%

38%

36%

39%

16%

23%

32%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

“The brands I choose to use say something about who I am and the image I project about myself to other people”

Agree (4-5 rating) Neutral (3 rating) Disagree (1-2 rating)

SELF EXPRESSION THROUGH BRAND CHOICESMillennials and Generation X are significantly more likely to believe that they help to educate others about brands, compared to Boomers.


41%

42%

23%

35%

32%

33%

23%

26%

44%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

“People seek me out for my knowledge and opinions about brands”


SELF EXPRESSION THROUGH BRAND CHOICESMillennials and Generation X are similar in their willingness to express their options about brands online, while Boomers are less apt to do so.


49%

49%

33%

31%

28%

23%

20%

23%

44%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

“I am willing to share my thoughts and opinions about brands I use over social media or online.”


SELF EXPRESSION THROUGH BRAND CHOICESMillennials express the most interest in supporting socially responsible companies.


55%

49%

44%

34%

34%

38%

12%

17%

18%

0% 20% 40% 60% 80% 100%

Millennials

Generation X

Baby Boomers

“I try to support companies that are socially responsible with the products and services I choose to use.”


BRAND CHOICE SCENARIOS

39

BRAND CHOICE SCENARIOSIn order to understand how members of each generation make decisions about brands within selected service-related categories, respondents were presented with a series of three choice scenarios. For each scenario, they were asked to choose which combination of features they were most likely to choose in a real-life setting. Respondents were then given the opportunity to explain why they chose each option.

The scenarios presented varied from one another in their offerings, delivery channels (e.g. online vs. in-person), price points, and additional features. For example, some provide charitable benefits to demonstrate corporate citizenship. Respondents were asked to make choices that essentially require them to make trade-offs among desirable benefits.

40

BRAND CHOICE SCENARIOSWhen making a choice about eyeglasses, all three generations tend to prefer Option B. When asked to explain their choices, respondents note the personalized service and a desire to support local businesses. Respondents who chose Option C frequently cite low prices as a primary motivator.

41

Scenario1:Eyeglasses

OptionA OptionB OptionC

• Onlineretailer

• Onlinetoolstoallowyoutoseehowtheglasseslookonyouandtomakesureyouaremeasuredcorrectly

• Largestselectionofstylesavailableanywhere

• Freeshippingandreturns/replacements

• 1pairofeyeglassesdonatedforapersoninneedforeverypairsold

• Locallyownedandoperatedeyeglassshopinyourneighborhood

• Personalizedserviceandattention

• Fittingandmeasurementsdonebytechnicianswithmorethan20years’experience

• Nationalchainofopticalshops

• Locationsthroughoutyourareaandacrossthecountry

• Regularpromotionsoffered,suchasbuyonepairandgetonehalfoff

Millennials 24%

GenX 20%

Boomers 7%

Millennials 46%

GenX 41%

Boomers 50%

Millennials 31%

GenX 40%

Boomers 42%

BRAND CHOICE SCENARIOSWhen choosing a credit card, having no annual fee is of primary concern for many respondents, driving preference for Option A across the generations. Higher cash back rates are also cited as being important. Millennials are significantly more apt to say that earning Amazon points is a particularly appealing component of Option A.

42

Scenario2:CreditCard


• 19.75%interestrate

• 1.5%cashbackonpurchases

• Noannualfee

• AwardwinningmemberpointsprogramthatyoucanusetopurchaseitemsonAmazon

• Mobileappthatallowsyoutomonitoryouraccountatanytime


• 1%cashbackonpurchases

• $50annualfee

• Financialliteracyprogramtoeducatelowincomepeopleabouthowtomanagetheirdebtandcreditcardswisely


• 1.5%cashbackonpurchases

• $50annualfee

• Foreverydollarspent,10pointsareaddedtoyourhotelrewardsaccount

Millennials 68%

GenX 69%

Boomers 73%

Millennials 10%

GenX 9%

Boomers 4%

Millennials 21%

GenX 22%

Boomers 22%

BRAND CHOICE SCENARIOSRespondents are more divided in their health insurance plan choices, with the overall premium cost being the most important factor, followed by having an in-network doctor.

Although not a primary driving factor in their choices, both Millennials and Generation X express greater interest in discounts and helping underserved communities, compared to Boomers. Baby Boomers are significantly more apt to value having their current doctors in-network.

43

Scenario3:HealthInsurancePlan


• Includesnearlyallthedoctorsandhospitalsinthearea,includingyourdoctor

• $350permonthpremium

• Discountsoneyeglassesandfitnessclubmemberships

• Fundshealthscreeningandeducationprogramsinunderservedcommunitiestotohelppeoplestopsmokingandpreventdiabetesandchildobesity

• Includesonlysomeofthedoctorsandhospitalsinthearea,butyourdoctorisinnetwork


• Includesonlysomeofthedoctorsandhospitalsintheareaandyourdoctorisnotinnetwork


• Discountsoneyeglassesandfitnessclubmemberships

Millennials 35%

GenX 37%

Boomers 31%

Millennials 38%

GenX 37%

Boomers 47%

Millennials 27%

GenX 26%

Boomers 22%

BRAND SWITCHING

44

BRAND SWITCHINGWhen presented with a variety of factors that might cause someone to switch brands, Millennials are most apt to choose financial considerations, such as changes in their own finances or cost increases imposed by the brand.

Q28 People may change the brands they choose for a number of reasons. What causes you to change brands? Please rank the top three reasons from the list below.

45

27%

27%

12%

8%

8%

6%

4%

4%

0 0.2 0.4 0.6 0.8 1

Changes in financial situation

Price or rate increase

Newer product on market

Learning about product that is more eco-friendly or socially resp.

Recommendation by family member

Learning that current brand engages in unfair business practices

Changes in family or relationship status

Recommendation by friend or social media contact

Most Important Factors Driving Brand Changes (Ranked First by Millennials)

Millennials

BRAND SWITCHINGPrice increases are an important driving factor for brand switching across all three generations—but Millennials and Generation X are significantly less apt to say it is their most important reason.


46

27%

30%

39%

17%

23%

24%

19%

15%

21%

0 0.2 0.4 0.6 0.8 1

Millennials

Generation X

Baby Boomers

Price or Rate Increase

First choice Second choice Third choice

BRAND SWITCHINGCompared to Baby Boomers, Millennials and Generation X are significantly more apt to cite changes in their financial situation as a key driving factor in brand switching.


47

27%

28%

20%

15%

19%

17%

15%

12%

19%

0 0.2 0.4 0.6 0.8 1

Millennials

Generation X

Baby Boomers

Changes in my financial situation


BRAND SWITCHINGFinding a newer product on the market is an appealing reason to change brands across all generations.


48

12%

13%

15%

16%

14%

15%

17%

21%

16%

0 0.2 0.4 0.6 0.8 1

Millennials

Generation X

Baby Boomers

Newer Product on the Market


BRAND SWITCHINGRecommendations from family members are fairly important to all three generations.


49

8%

8%

6%

14%

12%

13%

12%

16%

14%

0 0.2 0.4 0.6 0.8 1

Millennials

Generation X

Baby Boomers

Recommendation from a Family Member


BRAND SWITCHINGCompared to older generations, Millennials are significantly more likely to say they would make a change if they learned about a product that is more environmentally or socially responsible than their current brand.


50

8%

4%

4%

12%

10%

11%

7%

7%

8%

0 0.2 0.4 0.6 0.8 1

Millennials

Generation X

Baby Boomers

Learning about a Product that is More Eco-Friendly or Socially Responsible


BRAND SWITCHINGBaby Boomers are directionally more apt to say that they would switch away from a brand that engages in unfair business practices.


51

6%

6%

11%

10%

10%

12%

10%

14%

8%

0 0.2 0.4 0.6 0.8 1

Millennials

Generation X

Baby Boomers

Learning that my Current Brand Engages in Unfair Business Practices


BRAND SWITCHINGChanges in their family or relationship status are more likely to impact brand switching among Millennials, though this factor still rates well below other influencers.


52

4%

3%

2%

7%

5%

4%

7%

7%

5%

0 0.2 0.4 0.6 0.8 1

Millennials

Generation X

Baby Boomers

Changes in my family or relationship status


BRAND SWITCHINGRecommendations from friends or social media contacts are significantly more influential among Millennials and Generation X, but they still retain relatively little influence compared to other factors.


53

4%

5%

2%

7%

6%

1%

10%

5%

6%

0 0.2 0.4 0.6 0.8 1

Millennials

Generation X

Baby Boomers

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2016 Millennials and Brandsmillennials-documents.s3.amazonaws.com/2016... · Q10 Which of the...

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