There are 86 million Millenials in the United States with a collective buying power of $1.3 Trillion. We all know it’s a market that can’t be ignored but a lot of businesses find out it is a market that isn’t like the previous generations. They have a less collective identity but they still exhibit overall preferences in how they buy and consume goods and services. Here is a quick infographic to help with marketing to the generation that still hasn’t flexed its full market potential.
Every business needs to conduct market research even if it’s at the most basic levels. Without the data provided by research, the business won’t know what it is doing right and what it is doing wrong as time progresses. Flying blind is a bad idea for any business so market research should be something every business does. It doesn’t have to be painful or expensive so stay tuned this week as I walk you through it.
Marketing Tip – With such massive buying power at their disposal, most businesses want to reach the Millennials, here are some tips.