GENERATIONAL MARKETING
UNMASKING MILLENNIALS
Vera Kiss of The Futures Company explains what businesses need to know to be relevant to the millennials generation
M
uch has been said about millennials, a 2.2 billion strong cohort which spans people who are in their
late teens today to those in their early 30s. They’ve been described as an open, socially-conscious, optimistic and techno- logically-connected generation. What could not have been predicted is the profound eff ect of recent economic trends on their outlook and behaviours. In today’s stagnant developed markets, many young people have had to recalibrate their horizons as the affl uence of their parents and grandparents may no longer be in their reach. Meanwhile, in emerging markets many millennials now enjoy unprecedented incomes and opportunities for new experiences. Despite these diff erences there are three
key trends shaping the lives of millennials, which spa, wellness and fi tness facilities can tap into to connect with them. Firstly, millennials across the world are
facing new types of pressures, whether from the bleak job market and sluggish career ladders of the developed world, or from the rapid urbanisation and social transformation of emerging markets. This places a premium on experiences that help them switch off and relax, even if it’s a small treat or aff ordable luxury.
Secondly, millennials have come of age
alongside growing concern about alarm- ing obesity rates and the rise of healthcare costs. This means that health and wellness, and the personal responsibility for these, are much more at the forefront of their awareness. This opens up many oppor- tunities to connect with them through holistic health and wellness propositions. Finally, many millennials want to be
collectors of experiences rather than simply accumulating possessions. They increasingly defi ne themselves with what they do rather than what they have. Social networks give them ample chances to gain validation and status through sharing these experiences, whether it’s a special journey or an exquisite meal. Material status markers may still remain important for many millennials, especially in the developing world, however, even in these markets a post-materialist mindset is on the rise. A generation that increasingly seeks validation through experiences presents a unique opportunity for opera- tors who are able move their imagination.
Millennial tribes Millennial lifestyles and perspectives are as diverse as those of any other genera- tion. To unpack some of the nuances of
Millennials want to collect experiences rather than accumulate material possessions 38 Read Spa Business online
spabusiness.com / digital Spa Business 2 2014 ©Cybertrek 2014
SHUTTERSTOCK.COM/DUDAREV MIKHAIL
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100