While most people attribute certain stereotypes to Gen-Y, new research by The Boston Consulting Group, Barkley, and Service Management Group shows that there are actually six different types of millennials. Of course, it’s silly and simplistic to categorize an entire generation into little niches and you can’t stereotype an entire demographic. Millennials are actively engaged in both consuming and influencing and are optimistic about business and government making a positive global change. Millennials favor brands that have Facebook pages and mobile websites over non-millennials. In fact, 53 percent of millennials explore brands on social networks, while only 37 percent of non-millennials do.
They are far more likely to be the first to try new technology. For instance, 72 percent of millennials have an MP3 player, while only 44% of non-millennials have one. The research broke millennials down into six different groups, including hip-ennials, millennial moms, anti-millennials, gadget gurus, clean and green millennials and old school millennials. Here is the breakdown of each group and advice on how they can be better consumers:
Hip-ennial. You would immediately think that “hip” means trends in this instance but it’s clearly not. These are millennials that wholeheartedly believe that they can have an impact on the world and make it better. They are aware of what’s going on globally, give to charity and consume information regularly. Although they read social media content, they don’t produce it. This group is dominated by underemployed females, which is no surprise because many are students and homemakers.
Millennial Mom. They act like moms, despite being young. They enjoy traveling, getting in shape and treating their “children” like they were treated (pampered). They are confident with themselves, are very family oriented, and are proficient with technology. They are really intense with how they handle online conversations and want to join them. They care more about themselves than others and are sometimes isolated by their peer group because of it.
Anti-Millennial. They don’t care about anything else other than their business and their family, which goes against traditional millennial values. Most millennials want work-life balance. They don’t spend money on green products and services like most millennials do. They seek comfort instead of change, whereas most millennials embrace different activities to make life more interesting. There are more females in this group and many are Hispanics from the western part of the US.
Gadget Guru. They are always looking for the next big gadget, usually from Apple. They will be the first in line to get the iPad 4 and their clothes are interwoven with technology. They are highly egotistical, wired, free spirited and have a laid back approach to life. They are all hardwired and they contribute constantly to all the social networking sites. They tweeted the Instagram acquisition announcement immediately when it came out and told all of their friends in order to feel cool. Gadget Guru’s are male dominated and single because they live in their own world.
Clean and Green Millennial. These are the shining white nights. They take care of themselves and support everyone around them. They aspire to world for social organizations, are cause driven, health, green and have a positive energy surrounding them. They swarm social networks to contribute content in support of their philanthropic causes. They are a male dominated group of full-time students and are likely to be Hispanics.
Old-School Millennial. They go against many of the typical millennial rituals, including waking up for breakfast while updating their Facebook account. They would rather meet you in person than speak to you online or through text. This rare breed doesn’t use technology and is very charitable (an attribute that surprisingly few millennials have). They are independent and self-directed, whereas most millennials wants mentors and constant feedback from their managers. They read books instead of blogs and they are older and more likely to be Hispanic.