Former agency strategists Mark MacSmith (VML) and Tom McGillick (JWT) have conducted Australia’s largest study of Millennial attitudes and behaviours, with the aim of cutting through the clichés surrounding the country’s highest-spending demographic.
You can download a copy of the study here.
The study reveals some alarming figures relating to the perceived attainability of the Australian dream.
More than 25 per cent of Millennials currently live pay-cheque to pay-cheque, but it’s Millennials over 30 who have the least disposable income of all.
Of those who do have some money to invest, less than 15 per cent are currently putting that towards a deposit on a home and over 20 per cent have already given up o the idea of homeownership.
What’s more, trends in media consumption appear to be undermining the Australian ideal as well, with heavy users of social media more likely to report low personal optimism, social cohesion and economic participation.
“We read conflicting reports about the difficulties this generation faces, but rarely consider how these things might play out. For instance, we know young Australians are having children later, but we found that the more than 25 per cent see expect childless couples to be the household of the future, and that has major implications for something as fundamental as the size of the population,” said MacSmith
Australian Millennials are however, leading the way when it comes to looking after their health, particularly mental health, with over 35 per cent reporting actively trying to improve their mental health.
“This year, our industry will focus on Millennials more than any other group, but there is actually no consensus on who is or isn’t a Millennial. Even a conservative definition includes 18-year-olds all the way up to 35-year-olds. So it’s a group that currently includes both teenagers, and the parents of teenagers. Our industry struggles to understand Millennials because they’re not a homogenous group,” said McGillick.
The Australian Millennial Report profiled a sample of over 1200 young Australians and found the optimistic, progressive, young Australian that is seen as typical of the Millennial generation accounts for only 43 per cent of the total. “The rest are made up of groups who feel, think, and behave very differently, due to differences is age, where they live, experience and outlook,” said MacSmith.
Please login with linkedin to commentMillennials
Locked down Victorians who don’t currently have an Optus Sport subscription will have complimentary access to Optus Sport from this weekend to enjoy the UEFA Champions League tournament plus access to premium health and fitness content through the Optus Sport app. UEFA Champions League – the world’s premier continental football tournament – kicks off at […]
Torrens University Australia has launched ‘Career Crush’ via VCCP Sydney and Lash, to help match students with a career they’ll love. Career Crush is an online quiz that determines prospective students’ personal strengths, passions and aspirations to match them with the careers and courses they’re most compatible with. One of the toughest decisions young people […]
Pedestrian Group has partnered with Nine subsidiary Mi9 New Zealand to offer NZ brands the opportunity to partner with the likes of Business Insider Australia, Pedestrian.tv and Gizmodo Australia. Next month, Mi9 New Zealand will be representing Pedestrian Group in the NZ market, offering clients the opportunity to work with leading youth publications including Lifehacker […]
ViacomCBS Networks International (VCNI), a division of ViacomCBS, is launching a premium streaming service internationally, appealing to audiences of all ages. The new SVOD service will start its international roll-out early in 2021, offering exclusive premieres of all new SHOWTIME series, including Halo and American Rust. CBS All Access originals will also premiere exclusively on the new service, such […]
As part of a larger project to refine their brand with partner branding agency Re, Optus have engaged experimental creative studio FutureDeluxe to explore how the iconic ‘Yes’ brand mark behaves in a sophisticated 3D environment. FutureDeluxe have produced a series of 8x idents and a number of static key visuals which will be used […]