The hype about marketing to Millennials is so abundant that it’s borderline tiresome. But marketers who don’t take this trend seriously will hurt their brands for years to come.
Millennials, or people ranging from ages 23 to 38, are estimated to be the nation’s largest living generation. They not only make up the largest share of the American workforce, but they also hold major spending power — they are projected to spend $1.4 billion annually in the U.S. and represent 30% of total retail sales. Despite this influence, however, some marketers have been slow to understand Millennial habits and preferences.