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MARKETING TO MILLENNIALS - CANADA - AUGUST 2019

Published By :

Mintel

Published Date : Aug 2019

Category :

Lifestyle

No. of Pages : N/A

At 25-42, most Millennials have aged out of the stereotypical early 20’s lazy and entitled image that has defined them for so long. Millennials are financially minded and transitioning into adulthood with more than half now responsible for others as spouses and parents. The transition into adulthood is leaving the generation to feel the weight of their responsibilities creating a true need to cater to the label of ‘The Convenience Generation’. Millennials see brands as an extension of themselves, making them more attentive to ethical and environmental actions taken by brands. Marketers need to be clear about the exact segment of Millennial they are targeting given that this generation is transitioning through major life stage mile markers (eg childbirth) and spending priorities will vary accordingly.

Table of contents

OVERVIEW
What you need to know
Definitions
EXECUTIVE SUMMARY
The issues
Millennials are responsible and feeling the burden of responsibility
Figure 1: “Responsibilities prevent me from doing the things I want” (% any agree), Millennials vs overall, June 2019
The struggle is real: experiences vs finances – don’t shame them for lifestyle choices
Figure 2: Achievement of financial goals, June 2019
The relationship with brands is more personal for Millennials than older generations
Figure 3: “The brands I use reinforce the image I want to portray” (% any agree), by generation, June 2019
Opportunities
Be mindful that this generation is literally in transition
Figure 4: Selected activities enjoyed the most (any rank), Millennial mothers with under-18s at home vs Millennial women who do not have children, June 2019
Millennial parents aren’t growing out of their desire for experiences
Figure 5: “I’d rather spend money on experiences than things” (% any agree), Millennial parents with under-18s at home vs those who are not a parent, June 2019
Millennial parents under more pressure, Millennial dads struggling to adjust
Figure 6: “Life seems easier for my friends than for me” (% any agree), Millennial fathers vs Millennial mothers, June 2019
What it means
THE MARKET – WHAT YOU NEED TO KNOW
Major life markers fall within the Millennial age definition
Millennial moms grew up with working moms
Millennials are more ethnically diverse
MARKET FACTORS
Millennials are at a true transition point
Figure 7: Average age of mother at first birth, 1945-2016
Millennials make up a quarter of the population, and are growing up
Figure 8: Canadian population, by age group, 2018
More employed moms than before, more pressure on Millennial moms
Figure 9: Employment status of couple families with at least one child aged under 16, May 2016
More women entering workplace just as Millennials were born
The pressure is on for Millennial moms
Millennials are more ethnically diverse than older generations
Figure 10: Distribution of foreign-born population in Canada, by region of birth, 1871 to 2036
Inclusivity must be a consideration in marketing campaigns
Figure 11: Self-identification of ethnicity, by generation, June 2019
KEY PLAYERS – WHAT YOU NEED TO KNOW
Industries are gaining from blurring adulthood/childhood lines
The experiential generation makes shopping more interesting
Tech is opening hearts and minds and companies are responding
Lifestyle shaming is unproductive and masks bigger issues
WHAT’S TRENDING?
Spotlight on challenging what ‘adulthood’ looks like
Leisure and entertainment companies cater to blurring lines and seeing success
Figure 12: Play Great Games Together – Nintendo Switch, May 2018
Spotlight on Millennials as ‘The Experience Generation’
Figure 13: “I’d rather spend money on experiences than things” (% any agree), by generation, June 2019
Starring: Market & Co and the ‘Food That Sings’
Starring: IKEA
Spotlight on Millennials as ‘The Wellness Generation’ or ‘Generation Health’
Starring: Bell Canada and Headspace x NBA on mental health
Starring: President’s Choice on social bonding
Figure 14: #EatTogether 2017, December 2016
Figure 15: #EatTogether 2019, December 2018
WHAT’S NOT WORKING?
Lifestyle shaming
Figure 16: Suze Orman: How Your Daily Coffee Habit Is Costing You $1 Million, March 2019
A generation struggling to find the balance
Figure 17: Attitudes towards the usage of social media (% any agree), by generation, June 2019
Consider promoting a give-take/trade-off model
WHAT’S NEXT?
More avenues to address holistic health thanks to Millennial interests
Spotlight on Pokémon: gaming for a better night’s sleep
Spotlight on Sofi: acknowledging the emotional toll of debt
Figure 18: Money Talks Story #1 – Sophia + Imran, December 2018
Figure 19: Money Talks Story #2 – Alyssa + Keith, December 2018
THE CONSUMER – WHAT YOU NEED TO KNOW
Millennials are growing up…
…and are busy
Favourite activities vary by lifestage
Reliance on tech makes them different to older generations
For Millennials, brands are an extension of the self
TODAY’S MILLENNIAL LIFESTAGE
Bucking stereotypical images – they’re ‘the convenience generation’ for a reason
Figure 20: Key demographics: works full time and parents with under-18s at home, by generations, June 2019
Responsibilities take a toll, creating a real need for shortcuts – ie conveniences
Figure 21: PC Express – The Talk 30sec, May 2019
Millennials are catching up financially and optimistic about achieving goals
Figure 22: Achievement of financial goals, June 2019
Figure 23: Achievement of financial goals, Millennials vs older generations June 2019
They’re hungry for more info to achieve immediate financial goals
Millennial women need more assistance with financial management
Figure 24: Achievement of financial goals, by gender, June 2019
Start by acknowledging this is an issue
Case studies: SoFi and Visa
Figure 25: Money is Changing: The Cost, February 2019
Figure 26: Money is Changing: Pay equality in Hollywood, February 2019
PERCEPTION OF CURRENT LIFESTAGE
Millennials see themselves as being in transition
Figure 27: Correspondence Analysis – Symmetrical map – Generational perspectives, June 2019
Career-oriented images are relatable
Figure 28: #EatTogether 2018, December 2017
Most aren’t quite where they thought they’d be, but they’re optimistic
Figure 29: Attitudes towards current lifestage (% any agree), June 2019
They are a generation in transition and could use some help
Figure 30: Attitudes towards current lifestage (% any agree), Millennials vs overall, June 2019
Parenting for the Millennials is unique
Parenting for Millennials (literally) looks different than previous generations
Connecting with Millennial parents means supporting them to achieve their version of success
Case studies of parenting scenarios: McCafe and PC Financial
Figure 31: McCafé Mobile Order and Pay | Singing, March 2019
Figure 32: PC Financial | Cake Mix, May 2019
Parents are undeterred by responsibilities in their optimism
Figure 33: Attitudes towards current lifestage (% any agree), Millennials vs overall, June 2019
Don’t shy away from the unique challenges facing Millennial parents
Case study of showcasing today’s issues: Spark
Figure 34: Generation Voice is here, September 2018
MILLENNIAL WORRIES
Millennial are in a transitional period, as are their worries
Figure 35: Stressors (any rank), by generation, June 2019
More ‘titles’ means more stressors for Millennial women
Recap: Millennial women are more likely to be worried about their financial situation
The practical double shift: married women stress about keeping up with responsibilities
Figure 36: Stressor: ‘keeping up with everything I need to do’ (any rank), married millennial women vs millennials overall, June 2019
The emotional double shift: Millennial moms stress about making everyone happy
Figure 37: Stressor: ‘trying to make everyone happy’ (any rank), millennial mothers vs millennials overall, June 2019
Shortcuts need to address both and be positioned in a way that works for them
Figure 38: McCafé Mobile Order and Pay | Singing, March 2019
Four in 10 have older children, making family relationships an area of focus
Figure 39: Stressor: ‘relationships with family members (any rank), millennial parents with 6-17s at home vs millennials overall, June 2019
Experience Generation? Yes, but for the whole family
Figure 40: Parents Love It, April 2019
Make the emotional connection the star
Case study on bonding: Cineplex
Figure 41: Share Reel Love for Father's Day, June 2017
Young Millennial men find personal relationships stressful
Figure 42: Stressors: ‘romantic relationships’ and ‘relationships with friends’ (any rank), younger millennial men vs millennials overall, June 2019
Set up Young Millennial Men with the right conditions to mix and mingle
Case studies on layering on the ideal settings: Lululemon, Safeway and Metro
Case study on matching online with offline interactions: Bumble
FAVOURITE ACTIVITIES
Family time tops the list
Figure 43: Activities enjoyed the most (any rank), by generation, June 2019
Motherhood defines Millennial Moms
Figure 44: ‘Spending time with my family’ as activity enjoyed the most (any rank), Millennial mothers vs all Millennials, June 2019
Help support Millennial moms to do motherhood their way
Case study on providing meaningful tools: Solly Baby
‘Girls night in’ grows up: catering to childless Millennial women
Figure 45: Selected activities enjoyed the most (any rank), Millennial women who do not have under-18s vs all Millennials, June 2019
Make book clubs the star and products/services a supporting cast member
Consider promoting a ‘binge club’ in a similar manner
Young Millennial men enjoy physical activities and video games
Figure 46: Selected activities enjoyed the most (any rank), young Millennial men vs all Millennials, June 2019
These will continue to form the basis of relaxation for men as they ‘grow up’
THE IMPACT OF TECH ON INTERACTIONS
In some ways, more tech means more problems for Millennials
Communication preferences of Millennials are more like Gen Z
Figure 47: Attitudes towards communicating with tech (% any agree), by generation, June 2019
As are the perceived consequences of using tech to interact with others
Figure 48: Attitudes towards the impact of communicating with tech (% any agree), by generation, June 2019
But, the pressure to balance online and in-person interactions likely ring stronger for Millennials
Connect with Millennials by encouraging them to disconnect (momentarily, anyway)
Case studies on promoting some healthy competition: Hotel Bellora and IKEA
Case study on promoting reminders of time limits: Pernod Ricard
Figure 49: Anuncio Ruavieja 2018 – Tenemos que vernos más, November 2018
Millennial dads feel like they’re getting the short end of the stick
Figure 50: “Life seems easier for my friends than for me” (% any agree), Millennial fathers vs all Millennials, June 2019
Expectations are clearly depicted for Millennial dads, and the bar can be high
Figure 51: John Legend's "Stinky Booty" Song with Pampers, June 2018
Figure 52: Pampers, Adam Levine, John Legend and Chrissy Teigen star in “Stinky Booty Duty 2.0”, February 2019
Figure 53: #TakeTheTime | 5 Dads. 5 Weeks. | Dove Men+Care, May 2019
Like with moms, help dads choose their own adventure
CONNECTING WITH MILLENNIAL VALUES
Brands are a part of the Millennial identity
Figure 54: “The brands I use reinforce the image I want to portray” (% any agree), by generation, June 2019
Figure 55: Millennial attitudes toward brands representing values, June 2019
It’s time to take a stand
Millennials expect companies to walk their talk
Figure 56: Millennial ranking of best ways for brands to represent their values, June 2019
Employment fairness strikes a personal chord for Millennials
Figure 57: Millennial ranking of the most important values Canadians should have, June 2019
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Consumer survey data
Consumer qualitative research
Correspondence analysis
Figure 58: Generational perspectives, June 2019
Abbreviations
Terms

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