Ever wondered who are the Generation Z, Baby Boomer and Millennials? What are the millennial characteristics? What do today’s millennials want? What business marketers need to know aboutmillennials?
With 76Million+ members of the Gen Y population, they cannot be ignored. Did you know it costs $24,000 to replace each millennial hire that leaves, and 91% expect to stay in a job for less than 3 years? Or that by 2014, Gen Y will have over $1.4 trillion in spending power? The team at Badgevillehas designed below infographic that takes a deeper look into how marketers and managers can get the most out of their workforces and audiences of this age bracket.
Key takeaways from infographic
- Millennilas are predicted to surpass the spending power of baby boomers by 2018.
- 1 in 10 Millennial makes over $100,000.
- Millennials love to shop as compared to 40% of adults overall, they spend 8% more on apparel then those aged 35 to 44, even though they earn 22% less.
- 45 percent of companies have higher turnover with millennials.
- 40 percent of millennials think that blogging about workplace issues is acceptable.
- Over half of millennials said they would rather Give UP THEIR SENSE OF SMELL than GIVE UP THEIR TECHNOLOGY.