Image: Michael Kors Party Time Fashion Shoot

Brandnow.asia presents MILLENNIALThe up & coming consumer powerhouse

September 2016

AGES 19 TO 35 IN 2016Born 1981 to 1997

Table to Content1. Stats on

millennial (Gen Y)2. What do Gen Y care

about as a group3. Characteristics

and traits4. Millennial in the

work place5. Media consumption6. Millennial in

Thailand7. Tech & Social Media

8. Media & Values9. Lifestyle stats10. Gen X versus Gen Y11. Common trait12. What motivate

millennial to buy?13. Case studies

Stats on Millennial (Gen Y)

• World population of Gen Y: 2 Billion (nearly 30% of world population, which is 7.4 Billion)

• Largest generation in the world born in the 20th century, after baby boomers

• Most connected and media savvy than any previous generation

• Most influential generation of consumers. By 2020, Millennial spending power will reach estimated $1.4 trillion annually – just as they are reaching key life milestones suchGetting marriedBuying a homeBecoming parents

• The successful brands of the future will be those that capture the attention of this group

What do Gen Y care about• Meaningful Work • Collaboration: 88% prefer a collaborative

work culture rather than a competitive• Freedom of choice, at work and at play• New lifestyles demand less ownership

‘Sharing economy’ (more likely to rent out or lease – Airbnb, Uber)

• They value authenticity more than content, i.e. Tom’s one for one CSR program

Characteristics and Traits• Multitaskers• tech-savvy• Entrepreneur mind set • Family oriented, flexible schedule• Ambitious (perhaps sometime impatient)• Communication is key for Generation Y • Like to be loved: enjoy constant feedback,

gratitude

• Millennial want connections, checkpoints and mentoring

• 80% of millennial say workplace tech would have an influence when deciding to take a job

• Feedback and constructive criticism is important

• Core values:Sense of belonging Recognition

Millennial in the workplace

US Millennial Media ConsumptionIts important to see what kind of media millennial are exposed to daily In order for businesses to reach and communicate with this target group effectively

• Millennial are spending an average of 25 hours per week online (AdAge)

• 73% say it’s important to read other’s opinions before purchasing (blogs and reviews)

• 35% access the internet via mobile phones• They are driving the Internet-TV trend (Netflix) therefore video

content may be more effective in conveying a message• Millennial interact with organizations through social media more

than other generations (Facebook remains the most popular channel) • As of early 2016, there are 87 million Millennial on LinkedIn globally

by posting articles there businesses can gain credibility and recognition

Millennial in Thailand• 32% of the Thai 68 MB population

are millennial, approximately 22 Million

• According to National Statistics Office (NSO), Millennial spend an average of 8 hours per day online (US average 3.6 hours/day)

• Feelings of disconnect from Thailand centuries of tradition and culture

• Under pressure from older generation to maintain core values

• Shackled by chronic political problems and ineffective education

• 81% of Thai Millennial own a smartphone compared to only 45% globally

• 60% use smartphones to make a decision

• 46% of active Internet users claim to have been influenced by bloggers and vloggers (video bloggers)

• Thailand has 1.7 Million Millennial Instagram users

Millennial in ThailandTech & Social Media

• 84% of millennial believe that brands should not stick to just selling their products or services (their values should attract customers also – businesses should showcase their mission and what they want to achieve by including CSR and giving back to the society)

Thai Millennial media & values

• Campaigns should be informative and sharable (70% of Thai millennial share what they appreciate)

• Thai Cosmopolitan editor, Pim Jaiya, believes Facebook has become popular again in video content (live reports on red carpets, hot topic discussions, and sweepstakes)

Millennial in TH – lifestyle stats • As many as 77% of Thai Millennial claim that

they have more choices of how to live their lives compared to the global 69%

• Over 52% are still single • 69% still do not have children • 23% have two or more jobs • 12% are likely to pursue higher education• 52% value new and never-seen-before

experiences

Gen X Gen Y

Born between the early 1960s and the early 1980s Born roughly between 1980 and late 90’s

Gen X was shaped by global political events (Cold war, Berlin Wall, Vietnam War)

Gen Y grew up around technology

Gen X value job security Gen Y want a more flexible schedule

Gen X prefer face to face interactions Gen Y communicate over text and social media

Favors Bank Cards and retail cards for payment less brand loyal and the speed of the Internet makes them savvy shoppers. Has credit card, co-signed by parent(s)

Gen Y versus Gen X

One common trait • The one thing millennial have in common when it comes purchasing

products or what influences their buying decision is trust

What Motivates Millennial• Company values: Millennial are more

willing to pay extra for sustainable offerings than past generations (Nielson Global Online Study)

• 64% say it’s a priority for them to make the world a better place

• This could encourage millennial to join your business or support it

• CSR projects can be shown through videos, infographic, social media story telling

What Motivates Millennial to Buy

• Videos content: Millennial are 1.5 times more likely to watch videos while shopping online, it affects the buying decision

• The message may be even more effective if an influencer or existing customer is recommending the product or service

• By sharing video content online, it creates awareness, credibility and can help with millennial buying decision

What Motivates Millennial to BuyPersonalize the shopping experience: provide experiences and adventures

• Millennials care more about personal development and new experiences therefore campaigns involving new technology may attract millennial and bring in new customers

• Memories tend to stick with people, therefore new experiences can help millennial remember a business campaign and share the experience with others

Examples of Brand Marketing to Millennial• Coca Cola ‘ share a coke’ campaign • Personalized bottles with names or description• Successful because its share worthy (encourages people

to share the experiences with others) and associates the brand with friendship and memories (positive brand association )

• Created a website wrapped around this campaign that lets customers discover facts about their names, order customized bottles, and find out event dates for the Share a Coke tour.

• Everyone wanted to see their names on the bottle• Result: 7% increase in young adult consumption of Coke,

12 Million media impressions

Examples of Brand Marketing to Millennial• Chipotle focuses on giving their customers free

ranged fresh ingredients • Released a new comedy series called ‘Farmed and

Dangerous’ which features a Millennial aged farmer battling a corrupt industrial food production company.

• Before releasing the series Chipotle released an iPhone game, “The Scarecrow,” and a short video with the same title

• Both the game and video were centered on a scarecrow’s quest to replace processed food with wholesome food.

• Successful because it incorporates social media (encourages people experience and share the series and video game)

Examples of Brand Marketing to Millennial

• Gillette “Kiss & Tell” campaign• YouTube documentary, live demonstrations and

surveys were conducted to show that clean shaven men received more kisses than men with facial hair

• Kiss & Tell documentary video attracted 2 million views on YouTube

• Gillette concluded that women prefer a smooth shaven kiss and announced the launch of its Sensitive Skin Portfolio.

• Successful because consumers were given the opportunity to contribute to its marketing and become part of a new product line (share their thoughts and feelings)

Pacharee Pantoomanobrandnow@brandnowa.sia

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+662 662 5622 | LINE ID PPantoomano