Brandnow.asia presents MILLENNIALThe up & coming consumer powerhouse in property market

September 2016

Image: Michael Kors Party Time Fashion Shoot

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 Media8. Media & Values

9. Lifestyle stats10. Gen X versus Gen Y11. Common trait12. What does it mean for

you?13. What motivate

millennial to buy?14. Food for thought15. Challenges and

solutions for agents

Stats on Millennial (Gen Y)

• World population of Gen Y: 2 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• Multi-taskers• tech-savvy• Entrepreneur mind set • Family oriented, flexible schedule• Ambitious• 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 percent 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 millenials, 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 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 Prefer loads for auto and education

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

How does this translate to you?

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

• By sharing video content online, it can help with millennial buying decision

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

• It helps raise awareness as well as credibility

What motivates millennial to buy• 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 or inforgraphs

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

Food for thought

Challenges & Solutions for Agents

TRUST

• Walk the Talk• Consistent• Honest

CREDIBILITY

• Respect others• Competent•Accountable

EXPOSURE

•Online & offline presence

• Covered in media• Be a speaker

Thank youPacharee Pantoomano

brandnow@brandnowa.siaYoutube: BrandNowAsia | FB: BrandNowAsia

+662 662 5622 | LINE ID PPantoomano