Generation Y Millennials are now the biggest consumer demographic in the world. Their adoption of technology combined with an appetite for change makes this generation the most exciting to be involved with. Everything from the adoption of mobile technology to the emergence of the Sharing Economy is being driven by this generation. Generation Z follow in their wake. What’s becoming accepted for Gen Y is now expected with Gen Z.
The mobile messenger app, Snapchat, is one of the hottest youth brands in technology today. As teens leave Facebook and Google+, they are turning to private, discrete networks like Snapchat. While Snapchat is still a small player in the mobile messenger market, it has what many of its rivals don’t have – trust. Young users trust Snapchat, giving marketers and media the attention they need to engage and build relationships with this difficult-to-reach market.
Recent estimates forecast the size of the Sharing Economy at $335 billion. With the rise of Airbnb, Uber, Couchsurfing and Zipcar we can see that it’s very much Millennials in the driving seat of change. In this Guide, we look at the how and why of the sharing economy for Millennial consumers. Here is a generation that has grown up comfortable with the idea of sharing. What’s interesting is that while Gen Y is comfortable with that concept, Gen Z will expect it.
Messenger continues to reign supreme with Millennial mobile owners. Facebook and its acquisition Whatsapp dominate the Millennial mobile messenger market but they are under attack from a whole host of new providers who are able to develop apps for unique behavioral niches. Every single young mobile owner has a story tell and new way of using the device adults haven’t even thought of yet. It’s youth who showed the world how to use Facebook, SMS, Blackberry Messenger and file sharing. In this Guide we will explore some of the way youth are using and evolving messenger platforms today.
If youth lived their lives online, they’d do all their shopping online. But, that’s not the case. Go to any Apple store at a weekend and see if filled with groups of teenagers. Retail is a key part of young people’s lives. Where else can young people go these days without being harassed or moved on by security guards? Retail, events, restaurants – these are all vital social spaces in young people’s lives and it’s the ones that say “loitering allowed” they crave more than ever.
Privacy is no longer a feature but a key benefit in youth mobile app behavior. Look at the rise in apps like Snapchat and Whisper compared to the decline in platforms like Google+ and Facebook. Here you’ll see a story of youth, trust and privacy. Where Gen Y are demanding more control over their privacy, Gen Z will expect it. Youth are very sensitive to privacy issues. They understand the consequences. Young people are constantly checking their privacy settings.
Most youth marketing is still built on awareness-based metrics: eyeballs, top-of-mind and even brand awareness. But, just being aware of a brand in the modern media landscape means little. What marketers need to measure is attention. A lot of brands approach the youth market the wrong way. Whether they’re using social media or advertising, too many brands treat young consumers as destinations for their marketing messages, when they should be treating them as partners in its production.
Youth today are the Mobile Generation. The Youth Mobile Market is worth in excess of $500 billion annually. Youth have been at the forefront of the most important mobile innovations in the last 15 years (SMS, music, filesharing, social media, IM etc). If you want to know how the mass market will be using mobile tomorrow, look at how youth are using it today.
68% of teen mobile owners recorded a video on their phone in the last month (source Total Youth Research based on Global Web Index data 2014) . Only 43% of all ages did likewise. That figure has doubled in the last 2 years alone. Mobile Video is one of the hottest mobile apps today. The growing popularity of services like Snapchat, Youtube, ooVoo and Skype are testament to the fact that young users are more than ever willing to experiment and evolve video platforms beyond what the industry originally intended them to be.