We’ve just released our quarterly Youth Culture Marketing Report, the YCM 411, and if you haven’t read it yet, you’re already a step behind. The YCM is probably the most important youth marketing document going around these days, so I recommend you get on it quick smart.
Not sure what I’m talking about? Well, you’ve come to the right blog post. Basically, The Raiders have collated a truckload of information and statistics relating to millennial advertising, sieved through it with a fine toothcomb, cut out all the bullshit and written an easy-to-digest report on everything you need to know – the YCM 411. It’s easy to read and good to look at, so what’s stopping you?
The report is divided into three main sections, discussing three key millennial spending areas – festivals and events, travel, and food and dining. You probably know by now that millennials aren’t like generations past – we don’t care about physical possessions; we want experiences. So The Raiders have looked into some of our favourite things to spend cash on and come up with this nifty report to help you help us spend it!
If you’re running short of time and have bookmarked the report for later, or you’re looking to whet your appetite, here’s a handy summary of some of the fun facts included.
Festivals and Events:
- Three out of four millennials prefer to spend their hard earned cash on experiences, rather than things.
- Eight out of ten millennials reckon that their best memories are from an event or experiences they attended.
- Millennials loved these experiences so much, they’re looking to spend a further $3.3 billion dollarydoos on events and festivals this year.
- Millennials are savvy travellers. They don’t need agents to do the hard slog for them and are happy to spend time researching and planning their perfect holiday, and finding the hottest deals.
- There are literally thousands of apps and websites designed to help them do just this.
- Basically, these sites and apps are helping millenials spend roughly $200 billion a year on travel.
Food and Dining:
- Millennials are a braver bunch than generations before and they love to try new things. They eat more foreign cuisines than their more nervous ancestors and 40% of them like to order something new every time they visit the same restaurant.
- Fast food chains are yesterday’s news, but millennials still want things to be quick. Their expectations are higher and they demand their meals be fast, fresh, flavourful and (to get away from the alliteration) really damn unique.
- Three meals a day is considered passé. Millennials are shaking things up by grazing and snacking throughout the day and inventing new meals like brinner (breakfast for dinner) and linner/luncher (extended lunches that turn into dinners) to add to the now almost tradition ‘brunch’.