Spending Power & Millennial-Focused Marketing

John Partilla

Young people have incredible spending power.

With approximately 77 million Millennials worldwide, we know that this subgroup is responsible for $1.3 trillion in annual buying power in the U.S., despite only representing 1.4 percent of the population, said Forbes.

For this reason, the ‘social network generation’ is thoughtful, powerful influencers. This demographic swims and breathes in digital spaces, and now how to market to this group could be a valid career move, According to Neilsen.

With that understood, there are some things you should know about this group, including the fact that opinionated informants and eager players are eager to purchase high-end brands.

No point in attempting to trick millennials. They recognize when they’re being targeted. Rather than composing a campaign that’s generic and swollen with cliches or old marketing tricks, review trends and meet them where they are. Understand that they’re interested in the way a brand associated with politics and activism.

They aren’t rich. Millennials may spend a lot of money, but they aren’t the least bit wealthy. They’ve graduated from college with massive amounts of debt, they can’t afford to purchase homes, and they’re frequently in search of the right getaway. Rather than store away thousands for a home, instead they choose to spend their funds on vacations and concerts.

You can read the rest of this blog post by clicking here.

John Partilla, CEO of Screenvision, is a marketing industry executive with more than thirty years of experience. He’s held executive positions at numerous institutions after graduating from the University of Delaware with a Bachelor of Arts in Business Administration, as well as earning an MBA from Columbia Business School. Please visit http://JohnPartilla.nethttp://JohnPartillaNYC.com, and http://JohnPartillaMedia.com to learn more.