Stereotypical perceptions of millennials apply only to a ‘small subset’ of the generation, according to research conducted by BBC Advertising.
The report, ‘Reaching Affluent Millennials’, concluded that only 16 per cent – the ‘affluent’ group – of millennials actually demonstrate the traits that the industry so regularly discusses.
According to the report, ‘affluent’ millennials have a stronger relationship with international news providers than social media-based news outlets. The BBC reaches 69 per cent of affluent millennials on a monthly basis, compared with between 18-24 per cent for online news youth brands. Some 77 per cent consider it important for news providers to provide editorial curation, while 63 per cent find international news providers useful for helping them to understand the world.
The study was carried out between August and September 2016 and comprised of over 3,000 interviews across 31 countries. The research also included interviews with affluent millennials across seven markets – Australia, Germany, USA, Canada, India, Singapore and South Africa – conducted by Voxpopme.
It added that affluent millennials are 78 per cent say they do everything they can to help the environment and 72 per cent would pay more for sustainable products, compared to 57 per cent of non-affluent millennials. Some 82 per cent prefer brands that “give something back” to society against 67 per cent of non-affluent millennials.