Research reveals Millennials’ attitudes toward brands

Initiative’s research, ‘Debunking the Millennial Myth‘, included surveying 10,000 Millennials (25-34 year-olds) across 19 countries.

“Millennials are a generation who’ve grown up through a long period of economic uncertainty and instability, in a world that offers greater freedom, but also greater competition than ever before,” says Ben Haley, Head of Insight at Initiative. However, Haley observes that, having grown up in a world of economic instability, many are “anxious about economic security”.

Growing up in such an environment has produced a resilient and adaptable generation who are, says the report, the most creative generation yet. Furthermore, this demographic is the most self-aware and brand-aware ever.

So, what does this all mean for brands trying to attract a Millennial audience? According to Initiative’s report:

– Expectations of small and large brands differ – Millennials judge customer service and experience of large brands with far less tolerance than smaller brands;

– 54% would be more loyal to brands that help improve ecological or societal issues;

– 59% believe brands should actively participate to improve causes;

– Millennials worry about their finances – price is important;

– Millennials value brands that build on emotional connections and that are useful to them – they prize honesty and authenticity;

– Millennials love brands that are prepared to take risks, make mistakes and, importantly, acknowledge when they make mistakes;

– Millennials like to be involved in a brand’s creative process;

– Online reviews are the “most powerful” source of information for Millennials.

You can download a copy of Initiative’s report here.