Millennials, of course, are
not all alike, and one of the main differences is sex. This isn't as blindingly obvious as you might think. Lifestyle and purchase behavior differences between Millennial men and Millennial women are so great, it almost makes sense to think of them as two different cohort groups. Of course, there are many ways that they are the same, but vive la difference when it comes to marketing. On the whole, Millennial men appear to be more like their teen counterparts, while Millennial women are more like, well, young adults. According to Mintel's 2008 report on 18-24 year males, here are a few of the gaps:
18-24 year old men are more likely than women to...
Live with a parent: M: 50% W: 33%
Watch more than 11 hours of TV per week: M: 48% W: 32%
Be saving money to buy a car: M: 36% W: 25%
Be saving money to buy a video game console: M: 22% W: 8%
Visit online chat rooms weekly: M: 42% W: 31%
Read weblogs or watch podcasts weekly: M: 32% W: 15%
Watch online video: M: 77% W: 59%
Agree I don't need a stereo if I have a computer: M: 36% W: 25%
Agree I don't need a DVR because I have a computer: M: 28% W: 10%
Watch TV broadcasts on a computer: M: 37% W: 20%
Record TV broadcastson a computer: M: 30% W: 13%
Have a $100+ monthly cell phone bill: 35% W: 23%
18-24 year old women are more likely than men to...
Think it's cool if a company uses a social network profile to promote its products: M: 64% W: 72%
Own a laptop: M: 48% W: 59%
Own a car stereo: M: 49% W: 64%
Purchased clothing online: M: 32% W: 48%
Live with a wife/husband: M: 4% W: 23%
In college: M: 33% W: 36%
Gender differences often yield productive marketing insights. For example, several years ago we explored purchases of flat screen televisions among young adults. To our surprise, young women thought of a flat screen purchase as a piece of art, something that would make a statement about them in their living room. Young men were focused on the viewing experience, expecially the sound and theatre-like picture.
Is 'Multicultural Youth Marketing' a redundancy? 38% of 18-24 year olds are non-white (see chart below).
This generation is famous for its tolerance -- Pew Research reports 94% of the post 1977 born Gen Y approve of interracial dating compared to 84% of Boomers.
Just 17% of 18-29 year olds said that race was important to their vote in the primary compared to 22% of 30-44 year olds.
57% voted for Obama vs 48% for all age groups. (Pew Research Center, Young Voters in the 2008 Primaries).
Given this kind of evidence, I think there is a case that youth marketing and multicultural marketing are one in the same. Gen M not only desires diversity, they expect it. Recent focus groups we conducted on women and fashion found the appeal of celebrities like Tyra Banks easily cross ethnic boundaries, while Jennifer Anniston is 'every girl' for everyone. No college can afford to not have its multicultural images on display. Perhaps we are stating the obvious, but if so, why are we still talking about 'multicultural marketing'? Perhaps we should just say 'culture aware marketing'?
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