By 2018, U.S. millennials’ projected annual income will be US$3.39 trillion, surpassing baby boomers’ earnings and nearly catching up to Gen Xers. And they are expected to spend that cash—their estimated combined purchasing power will reach US$2.45 trillion globally by 2015.
What can marketers expect from the connected generation as consumers?
This infographic from Adweek has some of the answers, including some things we already know (“they’re early adopters and rely heavily on tech”), several surprising realities (“93 percent have purchased a product after hearing about it from a family member or friend”), and a few reasons for optimism (“55 percent believe their personal financial situation will improve within one year”). Granted, that year may be spent living in their parents’ basement, riding the bus, and checking their smartphones.
Here Is Everything You Need to Know about the Millennial Consumer