Millennials are those born between 1980 and 1995 and they are a generation caught between two decades. They were the last ones to play on the streets and the first ones to witness globalisation, the emergence of the internet and the privatisation of the Indian economy. The Millennial Conundrum is a report that attempts to understand this popular TG better, and what influences their lifestyle choices and buying habits.
Worldwide, millennials constitute roughly 27 per cent of the world's population and 34 per cent of India's population, states the report. Interestingly, the report also mentions that millennials are sensitive towards stereotyping either because of their own lived experiences, or shared experiences. This is generally characterised among the generation as 'being woke'.
The report also touches upon the beauty industry and how it affects a millennial's perception of themselves. Religion is another topic discussed in detail — millennials aren't as religious as the generations before them, but they still actively seek guidance, a sense of harmony, community and greater purpose.
Addressing the aspect of their personal lives, the report deals with how millennials perceive dating and what they really look for in a partner. In this chapter, there are references to an average millennial's decision making abilities and their overall perceived 'phobia' towards commitment. The report also addresses the fact that they are not loyal towards brands, as they lean more towards purchasing experiences, over products.
Here are some ads from 2019 from brands that targeted millennials — some of them — for the first time.
Read the full report below