Millennials represent a significant opportunity for marketers as they come to an age and level of income where long-term buying habits are established. Around 60 percent of Millennials identify themselves as brand-loyal, stating that once they find a brand they stick to it, while half describe themselves as brand-conscious. Meanwhile, Gen Z report lower figures of 55 percent and 42 percent respectively. The question that arises then is how brands can best engage this younger generation.
One clue emerges when respondents are asked what role they wish brands to play in their life. Where Millennials are most different from the average here is for wanting a brand to improve their image and make them feel cool/trendy, while for Gen Z providing entertaining content performs particularly well. So it seems that Millennials’ loyalty can be targeted through their desire for status, while entertaining content is the key for engaging the less brand-enthused Generation Z.