The Dutch research agency Motivaction has 'even' interviewed 48,000 adults (18-65 years) * about their motivations, lifestyle and behavior. This Glocalities study compares the values of 18,066 millennials from 19 countries with older generations. Are the much-described prejudices about this group true? On the basis of the segmentation model you would think so: compared to the elderly, young adults more often belong to the 'challengers' (32%), 'creative' (23%) and 'performers' (20%), and less often to the groups of 'conservatives' (15%) and 'socializers' (11%).
In particular, read the research report The disruptive mindset of millennials around the globe (pdf) - interesting cost, if only for this type of sentence: "The revolution that has shaped the life of millennials is technological in nature." By way of summary, these are the five most important descriptions of millennials from large-scale research:
Millennials are competitive, globally oriented, imaginative and worried
Compared to older generations, millennials are more cosmopolitan, consumption-oriented, competitive, networking, self-oriented, open-minded, flexible, culturally active and imaginative, but also concerned about the future. Almost half of the millennials like to stand out, twice as many as the post-war generation; they want to be seen and respected.
There is a gap between global and local millennials
Within the millennial generation there is a clear separation between those who are internationally oriented (active in the areas of consumption, culture and the internet) and those who are predominantly local or national (difficulties with navigating through modern life).
Millennials in emerging economies are fundamentally different
The millennials as often presented by Western trend watchers (open-minded, active and post-modern; the 'creative' segment) differ fundamentally from the performance-oriented millennials in emerging economies such as China and Russia. This segment of 'achievers' is more about matters such as family, community, status and career, with considerable purchasing power.
Challengers represent an enormous potential market
The greatest market potential among the millennials can be found in the value segment 'challengers'. They are competitive employees in the lower and middle classes with a fascination for money, risk and adventure. They don't have much money to spend, but they do embrace new technologies. They use online platforms and technology to limit the costs for goods and services.
Millennials are going to disrupt current models in the financial sector
The susceptibility to disruptive new technologies among millennials is much higher than among older generations. Since millennials have a strong fascination for money, the financial sector is an obvious candidate for a revolution, as happened previously in the field of music, photography, media and making purchases. Millennials are more open to peer-to-peer financing than older generations and they would consider large non-financial companies (such as Google) for financial services.
"Millennials are unconventional thinkers and they are open to change, much more so than older generations." [Martijn Lampert of Motivaction v. Reuters news agency , following a presentation in San Francisco]
youth programs nz
What can we expect from millennials? The researchers call them the generation of revolutionary change. For millennials, the internet and communication technologies are not luxury products as they are experienced by the elderly, but are simply regarded as a new standard. As a result, enormous changes are taking place and their speed and impact are still increasing. In short: expect even more technological innovations that will radically change the way we live ...
* In December 2013 / January 2014, more than 48,000 consumers aged 18-65 were surveyed in 20 countries: the US, Canada, Mexico, Brazil, Australia, Japan, China, South Korea, India, Russia, Turkey, South Africa , Italy, Poland, Germany, France, Spain, Belgium, the Netherlands and the United Kingdom. The report does not include the results from India because of the very low internet penetration. As a result, the analyzes are based on 45,710 respondents from 19 countries. The 18,066 millennials in the study were born between 1980 and 1995 (millennials younger than 18 were therefore not included). They are set against 13,245 baby boomers (also known as the post-war generation; born between 1945 and 1964) and against 14,399 generation X'ers (born between 1965 and 1979).
In particular, read the research report The disruptive mindset of millennials around the globe (pdf) - interesting cost, if only for this type of sentence: "The revolution that has shaped the life of millennials is technological in nature." By way of summary, these are the five most important descriptions of millennials from large-scale research:
Millennials are competitive, globally oriented, imaginative and worried
Compared to older generations, millennials are more cosmopolitan, consumption-oriented, competitive, networking, self-oriented, open-minded, flexible, culturally active and imaginative, but also concerned about the future. Almost half of the millennials like to stand out, twice as many as the post-war generation; they want to be seen and respected.
There is a gap between global and local millennials
Within the millennial generation there is a clear separation between those who are internationally oriented (active in the areas of consumption, culture and the internet) and those who are predominantly local or national (difficulties with navigating through modern life).
Millennials in emerging economies are fundamentally different
The millennials as often presented by Western trend watchers (open-minded, active and post-modern; the 'creative' segment) differ fundamentally from the performance-oriented millennials in emerging economies such as China and Russia. This segment of 'achievers' is more about matters such as family, community, status and career, with considerable purchasing power.
Challengers represent an enormous potential market
The greatest market potential among the millennials can be found in the value segment 'challengers'. They are competitive employees in the lower and middle classes with a fascination for money, risk and adventure. They don't have much money to spend, but they do embrace new technologies. They use online platforms and technology to limit the costs for goods and services.
Millennials are going to disrupt current models in the financial sector
The susceptibility to disruptive new technologies among millennials is much higher than among older generations. Since millennials have a strong fascination for money, the financial sector is an obvious candidate for a revolution, as happened previously in the field of music, photography, media and making purchases. Millennials are more open to peer-to-peer financing than older generations and they would consider large non-financial companies (such as Google) for financial services.
"Millennials are unconventional thinkers and they are open to change, much more so than older generations." [Martijn Lampert of Motivaction v. Reuters news agency , following a presentation in San Francisco]
youth programs nz
What can we expect from millennials? The researchers call them the generation of revolutionary change. For millennials, the internet and communication technologies are not luxury products as they are experienced by the elderly, but are simply regarded as a new standard. As a result, enormous changes are taking place and their speed and impact are still increasing. In short: expect even more technological innovations that will radically change the way we live ...
* In December 2013 / January 2014, more than 48,000 consumers aged 18-65 were surveyed in 20 countries: the US, Canada, Mexico, Brazil, Australia, Japan, China, South Korea, India, Russia, Turkey, South Africa , Italy, Poland, Germany, France, Spain, Belgium, the Netherlands and the United Kingdom. The report does not include the results from India because of the very low internet penetration. As a result, the analyzes are based on 45,710 respondents from 19 countries. The 18,066 millennials in the study were born between 1980 and 1995 (millennials younger than 18 were therefore not included). They are set against 13,245 baby boomers (also known as the post-war generation; born between 1945 and 1964) and against 14,399 generation X'ers (born between 1965 and 1979).
