First multicultural millennial study released by IMAGES USA, The Futures Company
From Target Market News(February 23, 2010) Millennials, those born between 1979 and 1993, are a generation of optimistic leaders, more concerned than previous generations about making a difference in the world they've inherited. However, according to a new study released by IMAGES USA and The Futures Company (formerly Yankelovich, Inc.), a closer look shows African- American and Hispanic millennials surpass their White peers regarding concerns with community involvement, and their ability to effect positive change in the world.
While the study, the first of its kind targeting the multicultural millennial, finds 81 percent of millennials feel the severity of world events are causing them to get more involved in effecting change in the world, African-American and Hispanic millennials are more motivated to make those changes than Whites of the same age. Taking a closer look the study shows African American (84%) Millennial males are more interested than White (58%) Millennial males in getting involved with their communities.
"Multicultural Millennials: The New Generation Coming of Age," based on data from The Futures Company's 2009 millennial poll of 2,500 consumers, explores the degrees to which multicultural millennials, also known as "Generation Y," differ from their White counterparts regarding community, the environment, economic issues, retention of cultural heritage, and consumer trends.
"Branding now involves more tangible involvement at a community level and commitment to making a difference," said Juan Pablo Quevedo, IMAGES USA Director of Marketing Research and Strategic Insight. "Ideas that help to solve real problems are the "new cool." They grew up at the speed of digital and are quick to hold brands accountable for immediacy of response."
To that point, as consumers, multicultural millennials are clear on their affinity for and loyalty to brands that support African-American and Hispanic communities and understand culturally relevant nuances and triggers. The majority of African American (88%) and Hispanic millennials (87%) agree that companies making a sincere effort to be a part of the Hispanic and African American communities deserve their loyalty. However, their enthusiasm is tempered by their belief that "very few brands and companies genuinely care about the state of my community."
"The multicultural millennial has a surprising and unique value system, and a different set of decision-making criteria around brand choices, said Ricki Fairley-Brown, IMAGES USA CMO. She continued, "As the Millennial Generation will soon eclipse the size of the Baby Boomers, this dynamic group of consumers will drive the future growth of brands. Marketers would be remiss to not embrace them."
Read more about what the kids are doing these days here. https://sites.google.com/site/mayuradocs/PinIt.png