korean phone companies are one of the favorite topics of interest for companies, since they do not quite understand very well what it is that makes the members of this generation completely different from those of previous generations and, therefore, how they should relate to them, its new and very attractive consumers. Millennials are also one of the great themes of US analysts, since that population group is going to become the majority in the market of that country and, therefore, in which it is necessary to be happy to be able to maintain good figures of deal. At the moment, almost everything that reaches us about millennials is screened by members of the American Generation Y. But what are millennials in Europe really like?
The Pew Research Center has done a study on the members of this generation in the Old Continent and has discovered that there are certain differences between what European millennial consumers are like and what Americans are like.
European millennials are now between 18 and 33 years old and make up 23% of the adult population of the countries of the European Union. This figure is especially interesting because it makes the weight of millennials in Europe lag behind the weight of millennials outside of Europe. In the United States, millennials make up 27% of the adult population, a key figure for them to become the first population group. Europeans have not managed to overtake the baby boomers and thus those over 50 are the first population group in Europe (which shows that the population is strongly aged).
European millennials have had to face their entry into adulthood at the same time that the economic crisis broke out and the recession took hold. Europeans are not very optimistic about how the economic situation is being managed. Overall, only 22% of Europeans are satisfied with their governments’ management of the economic crisis.
In the case of millennials, the situation varies depending on where they live, although in general (and unlike members of the American Millennial Generation) they do not see a near and near end. Millennials in northern countries, such as Germany, have a more optimistic view and more broadly approve of their governments. Those from the south are not so. Only 7% of millennials in Spain and only 6 of those in Greece are satisfied with the management that has been made of the situation.
Therefore, it is not surprising that millennials in Europe are a pessimistic generation and that they tend to think that those who come behind will not have it easy. The future is complex, or so European millennials think. Only 38% of British millennials, 37 of Germans or 15 of French (countries in which millennials are quite satisfied with the management) think that the future will be optimistic for the next generations.
Satisfied with their lifeAlthough, despite this complex context and these not very optimistic forecasts, European millennials have a very positive outlook on their own lives. In general, members of this generation are satisfied with their lives. 56% give themselves a score between 7 and 10 (the scale goes from 0 to 10) about their life.
German De Phone Number are the most satisfied with their existence, although even those who are least positive (the Greeks, with 45% who are happy with their life) do not have such a low percentage of millennials who consider themselves satisfied. In fact, in general, millennials are more satisfied with their lives than members of the older generations. In Spain, 61% of millennials claim to be happy with their existence, while only 49% of those born before 1965 are.
The role of millennials in consumptionKnowing millennials is therefore very important, as it is the way to understand how to reach them. In addition, their tastes and purchasing decisions are having a cross-cutting effect and are changing how consumers of virtually any generation are reached. Since brands want to reach them, they have modified things so that their criteria prevail. For example, supermarkets are already beginning to think about how millennials shop before following the criteria prevailing so far of families in the suburbs.
To change, millennials change even how products are designed, both as consumers and creators of them. As you recall in an article in Wired magazine , millennials are the first consumers to try to live and buy according to their own consumption rules. This makes their products value points such as the proximity of manufacture (instead of thinking about the production in Asia at a low price) or that they themselves, in reality, become the producers of the things they want to consume. The companies that are flagging what is and will be consumed tomorrow, from Facebook to Tesla, are nothing more than millennial creations in reality.