Ahh, millennials. Can’t live with ’em, can’t live without ’em. From their tech-savvy tenacity and their penchant for specific brand names, they’re becoming the all important voice marketers love to listen to.
The market for US millennials is expected to flourish and hit a cool $1.4 trillion by 2020, according to international consulting firm Accenture. But it doesn’t stop there, and in the coming years millennials will make up a hefty 30 per cent of all retail spending in the States. Aussie millennials will no doubt follow this trend.
And on that note, Visual Capitalist has created a chart that attempts to grapple with the needs and wants of this generation.
The chart shares data from a comprehensive survey of 3,500 millennials that were asked (and can we add, not prompted) about their favourite brands over the past three years.
Apple unsurprisingly nabbed top spot in the shortlist of the Top 10 millennial brands, while Samsung, Microsoft, Sony, Amazon, and Google all helped pitch in on behalf of tech brands. But noticeably missing from the top 10 were other prominent technology brands. Facebook, who reaches over one billion people every day, came in at 65th place.
That’s behind companies such as LG (20), Dell (28), HP (36) and eBay (53). Meanwhile, Twitter, Paypal, and LinkedIn didn’t even register on the Top 100 radar.
Taking cue from research company Moosylvania‘s comprehensive report that explains why each of the top 100 make the cut, there was an underlying theme that drove these preferences.
They found that the kids prefer fun and entertaining content to news and information in their social media feeds by a margin of six-to-one.
“Entertainment provides a natural opportunity for a brand to connect as shareable content,” CEO of Moosylvania Norty Cohen said. “These cohorts are marketing themselves, and when a brand doesn’t take itself too seriously but instead provides fun that can be shared, it works.”
Check out the top 100 brands, which also feature converse, Mickey D’s, Dove, H&M and Disney.