MILLENNIAL$ WIN, BUT IT’$ NOT A $WEEP!

Millennials (MLLNNLS) will out spend all other age brackets this Easter time. They will avg $167.54 vs $159.99 (+14.7%) for those from 33-54 vs $112.29 (+49.2%) for those 55 and over. But it’s NOT a clean sweep in all the spending categories. MLLNNLS spend more on Candy, Flowers, Decorations and Greeting Cards than any age group while those from 35-54 will win the spending crown on clothing, gifts and food. We would expect MLLNNLS to be heavy on candy either b/c of nostalgia or their own kids. Presenting an Easter atmosphere surely connects well with MLLNNLS as they spend more on flowers, decorations and greeting cards than any other group. On the other hand, we expect their parents and other relatives would be hosting Easter meals and buying Easter Clothing for their kids and/or grandkids. They outspend MLLNNLS in terms of Clothing $129 v $91 and on Food $116 to $103 and marginally on gifts $83 To $81. For those interested the gap on spending is much greater b/t MLLNNLS and those 55 yrs and older with MLLNNLS spending more than those over 54.

Lastly, MLLNNLS are more likely than the older age groups to believe that they will spend more rather than less this Eastertime vs 2015. Their diffs b/t the spend more vs the spend less responses are huge. For MLLNNLS it was +22% for more, for 35-54ers it was +6% for more and for those older it was +7% for less. WOW!

 

18-34 35-54 55 & Up
More 29.7% 16.5% 7.2%
Less 8.0% 10.0% 14.3%

SHOPPING VENUES BY AGE

18-34 35-54 55 & Up
Discounters 58.0% 63.8% 53.8%
Dept Stores 56.0% 42.4% 28.2%
Spec Clothing 19.4% 11.6% 4.1%
Other Spec Stores 28.2% 23.8% 18.8%
Small Biz 26.2% 23.8% 24.4%
Online & Catalogs 33.4% 23.4% 15.8%

MLLNNLS are more likely to shop at Dept Stores, Specialty Stores and to Online Shop than is any other age group. They also have a small preference to shop at Local Bizes than do Older Shoppers. Those 35-54 were more likely to Discounters vs any other age group. When it comes to shopping venues our beloved MLLNNLS appear to have Blue Blood running through their shopping veins.

EASTER ACTIVITIES BY AGE

18-34 35-54 55 & Up
Visit Fam & Friends 60.0% 58.5% 55.2%
Cook a Meal 53.4% 58.2% 55.0%
Go To Church 47.6% 50.5% 55.2%
Browse the Web 38.6% 23.4% 13.8%
Open Gifts 25.2% 14.2% 4.0%
Shop Online 16.2% 8.8% 3.8%
Shop In-Store 15.2% 7.9% 3.2%
Go To Movie 15.0% 7.6% 2.3%

The above list of Easter Activities shows that MLLNLS are more likely to Visit Family & Friends, Browse the Web, Open Gifts, Shop Online, Shop in a Store and Go To a Movie than those 35+. Their parents or those 35-54 and those 55 & up are more likely to go to church than are MLLNNLS at Eastertime.

SMART PHONE USAGE FOR EASTER BUYING

18-34 35-54 55 & Up
Own a Smart Phone 91.3% 82.3% 58.0%
ü  Used for Research 38.3% 22.3% 10.0%
ü  Used for Purchase 26.4% 15.8% 4.1%
ü  Used for Coupon 25.0% 15.6% 6.3%

 

The info above tells us all that if we want to connect with the MLLNNL market (and others) Smart Phone programs are pretty smart. MLLNNLS use them for checking prices, comparing products, redeeming coupons AND buying products. NEXTQUESTION!

MILLENNIAL EGGACTITUDE

MLLNNLS will Spend more this Eastertime; are more likely to shop at Upscale Locations; will Browse the Web; and both Shop In Store & Online more than any other age group. Finally, their proclivity for owning and using their Smart Phones as a part of their buying behavior is unquestioned and worthy of note to ALL SELLERS!

 

 

HAPPY EASTER

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About bernacmd

For over 24 years, University of Detroit Mercy Marketing Professor Michael Bernacchi, Ph.D., J.D, has produced "uNDER tHE mIKE-rOSCOPE", a newsletter discussing current "marketing and advertising¹s bends, trends & ends." A well-know fixture in Detroit and national media, UDM's marketing guru has made several appearances on CNN's "Talk Back Live," the Voice of America worldwide radio network (VOA), ABC, CBS, NBC, MSNBC and on the pages of Sports Illustrated, Time, TV Guide, the New York Times, USA Today, the Wall Street Journal and the Washington Post, to name a few. At University of Detroit Mercy, he has taught courses in Marketing Management, Consumer Behavior, Marketing Communications, Research and Corporate Social Responsibility and Sports and Entertainment Marketing. Michael Bernacchi can be reached at 313-993-1116 or bernacmd@udmercy.edu. Please appropriately attribute the following for their work on uNDER tHE mIKE-rOSCOPE: Yen Ju Lee Robert Rouse Vidhyasagar Natarajan Eric Baumgardner & Ian Young
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