CultureQ Research Identifies Five Key 'Misconceptions' about Millennials & How They Approach Brands

Sept. 10, 2012 - PRLog -- New York, September 10, 2012 – What do Gen Y consumers really want? Maybe the better question, according to new research from CultureQ, branding and communications consultancy Onesixtyfourth LLC’s ongoing research initiative with Millennials in the U.S. and the UK, is – how much do they really believe the misconceptions that marketers have laid upon their approach to consumerism and even achieving social good?

“Conventional, and in some cases anecdotal, wisdom about Millennials and their relationships with brands is settling in, to a large extent,” said Anne Bahr Thompson, Founding Partner of Onesixtyfourth (http://www.onesixtyfourth.com). “This is not surprising given the size and importance of this generation and the impact they’ve had, and will continue to have, on business and culture. Clearly, it’s essential marketers avoid taking the wrong lessons from this wisdom or try to impose one-size-fits-all solutions to their challenges.”

Based on the firm’s proprietary CultureQ research (http://www.onesixtyfourth.com/cultureq), Ms. Bahr Thompson identified these five misconceptions about Millennials’ behavior:

MISCONCEPTION 1: TECHNOLOGY DEFINES MILLENNIALS
Much has been said about technology being the essential element that defines Millennials. But technological developments in and of themselves have not been life- changing events for those born between 1980 and 1995. Rapid technological advancement has been a constant in their lives. They’ve never known the world to be otherwise. In fact, many early adopter Millennials believe they define how technology is evolving and being used, rather than the other way around.

MISCONCEPTION 2: BOOMER PARENTS HAVE SET MILLENNIALS UP FOR SUCCESS
Many Millennials who graduated college since 2008 feel that their parents unknowingly set them up for failure, especially in this down economy. Raised with unrealistic expectations and an inherent belief in their individual specialness that technology further fostered, their parents created an overly supportive and structured environment that simultaneously fostered hard work and complacency.

MISCONCEPTION 3: MILLENNIALS KNOW WHO THEY ARE AND WHAT THEY WANT
For all their focus on achievement, a large number of older Millennials feel unfulfilled. Even before the crash, many had discovered that their outside-in notion of success was elusive. As long ago as 2007, many told us that they were fearful of missing out on any opportunity, obsessed over the next step, and never stepped back to see the big picture for their life. A large number of younger Millennials, who have mostly come of age since the crash, do not believe they have the luxury to explore who they are. They strongly echo their parents’ economic fears and are readjusting their expectations for the future.

MISCONCEPTION 4: MILLENNIALS ARE FREE-SPIRITED AND SPONTANEOUS
Much of day-to-day Millennials life that appears spontaneous is the result of technology. The Internet, mobile phones and social media all allow them to move from moment to moment in real-time. Planning is not needed. Yet, spontaneity and free-spiritedness is all about living in the moment, and a large number of Millennials feel that they are never truly present in a moment because they live in a 24/7 world of connectedness and interruption. Further, technology has made the entire world accessible to Millennials; there’s nothing that can’t be researched online. And, when you spend time living in a virtual world, it seems as though there’s less to discover in the physical world. As a result many Millennials don’t seek out entirely new or different experiences. More so they are looking for variations on themes - for more excitement and energy from things they know. Extreme activity may be the new spontaneity.

MISCONCEPTION 5: MILLENNIALS ARE WILLING TO SACRIFICE TO BE PART OF A GREATER WHOLE
As the greatest multi-ethnic generation, Millennials have an idealist’s desire to right injustices and help those in need. Despite their civic mindedness and earnest desire to positively change society, however, they are also products of a market economy morphing into a market society. Millennials define the boundaries of relationships to suit their needs, and will not readily compromise what they want for the group. Someone else must do this: a company, a figurehead, government or another institution. Millennials, especially those 19-30, tend to put their own needs first and many see friends, a large number of whom are easily replaced, as fulfilling purposeful roles.

A free copy of the CultureQ 2012: Millennial Misconceptions analysis is available upon request.

CultureQ reports are available individually or as a subscription service with opportunities for customization. For more information about CultureQ, visit www.onesixtyfourth.com.

About Onesixtyfourth
Onesixtyfourth is a trend-based, brand and communications strategy boutique that helps organizations connect more meaningfully with their audiences and leverage the power of their brands. Onesixtyfourth delivers actionable strategies and expert advice and support to senior management teams in the development and implementation of brand strategies that are designed to be readily integrated with existing business goals and objectives and deliver tangible results across the organization.  

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