Vision Monday Meet the Millennials January 19th, 2014
VM – In order to address any group, especially to sell or market to it, you have to understand it. Figuring out how its members think, behave and react is integral to engaging with it and motivating it to act or buy.
But what do you do when the group you would like to understand and want to appeal to is ginormous in size, has a highly diverse ethnic makeup, spans several life stages, depends on technology like air and almost universally prides itself on its individuality?
74.3 million – or about 23.5% of the total population of Americans are between the ages of 18 to 34 according the the U.S. Bureau.
43% – are non-white. That is the highest share of any generation, making it the most racially diverse group in American history. According to Pew, this trend is driven by the large numbers of Hispanic and Asian immigrants who have come in the U.S. in the past 50 years whose U.S. born children are now coming of age. This fact will have a huge impact on the demand for international, Asian and alternative fit eye wear options.
60.1% – of 18 to 34 year olds use some form of vision correction, according to the latest Vision Watch study from the VCA.
$10 trillion – according to Ad Age, that the the amount of money Millennials will spend in their lifetime.
50 million – Millenials are currently working across the nation, comprising a third of the work force today. By 2020, that will grow to half of the work force.
Posted on 2/23/2015 at 7:30:00 PM