The Millennial Economy, as we define it, is an economic and social model in which emerging value shifts, rapid innovation, and new social norms are radically reshaping the future of work, money, and life. We are living this radical reshaping right now, and it is being driven by the largest generational cohort in the market today — millennial women.
If your marketing strategy has no plan for addressing the mega-segment that is millennials, you are missing a crucial opportunity to capitalize on one of the most lucrative audiences of our time. The population of millennials, defined here as consumers born between 1982 and 2000, totals 75.5 million. And beyond the significance of its sheer strength in numbers, this segment spends. On the whole, millennials represent a major market force in terms of buying power, spending $200 billion per year. And with women holding 85 percent of US spending power, we are looking at $170 billion in spending power from millennial women, specifically. As of this year, they are expected to represent the largest spending power of any generation.
Access the report from this exclusive study about the buying power of millennial woman, conducted by Merkle and Levo. Learn what drives this powerful cohort to purchase; find out what they look for in a brand, and hear what myths have been debunked.