Marketers who are not targeting Millennials are making a huge mistake and are leaving billions of dollars on the table.
- They are responsible for about 50% of all consumer spending.
- They have $2.4 trillion in annual income, which accounts for 42% of all after-tax income in the U.S.
- They buy about 60% of all new cars
- They have a net worth 3x that of other generations
- They outspend the average consumer in nearly every category, from food, household furnishing, entertainment, personal care, gifts, etc.
- They account for nearly $230 billion, or 55% of consumer packaged goods sales
- They dominate 94% of CPG categories
- They outspend other adults online 2:1 on a per-capita basis
- They control about 70% of the wealth in the US
- Nielsen calls them "the most valuable generation in the history of marketing"