Study: Why Gen Y May Be The Most Misunderstood Generation

Study: Why Gen Y May Be The Most Misunderstood Generation

When it comes to describing Millennials, stereotypes abound, yet new research by Qualtrics and Accel has found that this demographic may be the most misunderstood generation.

Qualtrics and Accel surveyed more than 6,000 Millennials, Gen Xers, and Baby Boomers to understand their drivers, differences, and similarities. Key Australian findings include:

  •  Millennials are willing to spend more on material possessions and are looking for quality and socially sought-after things.
  • Despite the stereotypes, Millennials aren’t lazy. They measure their work by achievement instead of hours logged and have no problem moving on if it’s not a good fit. However, only 11 per cent of Millennials have had five or more jobs in the past five years, and 84 per cent prefer to have one full-time job rather than multiple part-time jobs. Furthermore, 70 per cent are worried about having the right skills to succeed in the future.
  • Millennials aren’t motivated by money, with 55 per cent saying they would take a salary of $53,000 for a job they like rather than $132,000 for a job they dislike.
  • Millennials are just as plugged into online life as stereotypes suggest. Half own a phone that’s less than a year old, and 35 per cent make in-app purchases on their phones at least monthly.
  • Appearances mean a lot to Millennials, with 49 per cent saying that buying brand products is very important, and 33 per cent are very willing to spend more on designer brands. Furthermore, 47 per cent own designer clothing and 58 per cent are loyal to certain brands. Higher quality is the number one reason why Millennials prefer designer brands.

 

 




Please login with linkedin to comment

Accel breakfast show Eardrum Australia

Latest News

Veridooh Snatches Prashand Menon From ScentreGroup
  • Advertising

Veridooh Snatches Prashand Menon From ScentreGroup

Out-of-home OOH) and digital media leader Prashand Menon (lead image) has joined OOH ad tech company Veridooh as group business director within NSW and QLD. Menon joins Veridooh from his most recent role as ScentreGroup’s group business director and brings with him more than 10 years of experience in Australian media. Previously, he held positions […]

Kat & Co Transforms Into THE WORLD OF Experiential Agency
  • Advertising

Kat & Co Transforms Into THE WORLD OF Experiential Agency

After more than twelve years of producing experiences for some of the world’s most innovative brands, including Hermes, Van Cleef & Arpels, Louis Vuitton, and Tiffany & Co, Kat & Co has quietly metamorphosed into THE WORLD OF. THE WORLD OF is an experiential agency at the juncture of culture, technology and the human condition. […]

SMG Studio Launches Risk: Global Domination X Dune Part Two
  • Campaigns

SMG Studio Launches Risk: Global Domination X Dune Part Two

Through a licensing agreement with Legendary Entertainment, SMG Studio inked the rights to adapt Dune: Part Two into a game based on Risk: Global Domination, Hasbro’s interactive board game. Inspired by Denis Villeneuve’s cinematic masterpiece, Dune: Part Two, this new digital adaptation, RISK: Global Domination X Dune: Part Two, is poised to captivate players from […]

QMS: Taylor Swift, Lunar New Year & Mardi Gras Were Boon For OOH Market
  • Marketing

QMS: Taylor Swift, Lunar New Year & Mardi Gras Were Boon For OOH Market

Taylor Swift, Lunar New Year and the Sydney Gay and Lesbian Mardi Gras Festival have had a dramatic impact on the number of people moving in and around Sydney over the past month, drawing big crowds into the heart of the city and its surrounding suburbs. New data from digital outdoor company QMS reveals a […]

MKTG Launches PR & Talent Division Realigning Business Structure
  • Marketing

MKTG Launches PR & Talent Division Realigning Business Structure

Dentsu‘s MKTG Sports and Entertainment has unveiled a significant evolution, including the launch of a specialised PR and Talent Marketing division, investment in expanding its Creative Services group, and a centralised approach to brand and rights holder servicing with increased production capabilities and a strengthened in-stadium sports presentation team. Lead Image: MKTG CD Ross Allen; […]