“Data-Driven Thinking" is written by members of the media community and contains fresh ideas on the digital revolution in media.
Today’s column is written by Lauren Moores, vice president of analytics at Dstillery.
Millennials. Multicultural. Multicultural millennials.
If you are a marketer, chances are these “M” words keep you up at night. It makes sense. These are big demographic groups with big spending potential and lots of loyalty up for grabs.
The millennial generation, born between roughly 1980 and 2000, represents approximately 80 million people. Multicultural, also a broad term, refers to multiple and mixed ethnicities and backgrounds, but can include African-American, Asian, Hispanic and LGBT audiences. The combined millennial and multicultural audiences (MMC) represent nearly 40% of the US population. For marketers, they are the “next-generation consumer,” and generally the major growth vehicle for their brands.
It also makes sense that there is behavioral divergence within the millennial, multicultural and MMC labels. There’s research to support disparities on everything from brand loyalty and trust in user-generated content to media usage.