The term Millennials generally refers to the generation of people born between the early 1980s and the early 2000s. Perhaps the most commonly used birth range for this group is 1982-2000. The Millennial Generation is also known as Generation Y, because it comes after Generation X — those people between the early 1960s and the 1980s
According to Wikipedia, The United States Census Bureau, using birth dates ranging from 1982 to 2000, stated the estimated number of U.S. Millennials in 2015 was 83.1 million people.
In 2016, the Pew Research Center found that Millennials surpassed Baby Boomers to become the largest living generation in the United States. By analyzing 2015 U.S Census data they found there were 75.4 million Millennials, based on Pew’s definition of the generation which ranges from 1981 to 1997, compared to 74.9 million Baby Boomers.
Some Facts about Millennials and Digital Technology
They conducted a large-sample (7,705) research study of college students. They found that Next Generation college students, born between 1983–1992, were frequently in touch with their parents and they used technology at higher rates than people from other generations. In their survey, they found that 97% of these students owned a computer, 94% owned a mobile phone, and 56% owned an MP3 player. They also found that students spoke with their parents an average of 1.5 times a day about a wide range of topics. Other findings in the Junco and Mastrodicasa survey revealed 76% of students used instant messaging, 92% of those reported multitasking while instant messaging, 40% of them used television to get most of their news, and 34% of students surveyed used the Internet as their primary news source. Older Millennials came of age prior to widespread usage and availability of smartphones, defined as those born 1988 and earlier, in contrast to younger Millennials, those born in 1989 and later, who were exposed to this technology in their teen years.
Gen Xers and Millennials were the first to grow up with computers in their homes. In a 1999 speech at the New York Institute of Technology, Microsoft Chairman and CEO Bill Gates encouraged America’s teachers to use technology to serve the needs of the first generation of kids to grow up with the Internet. Some Millennials enjoy having hundreds of channels from cable TV. However, some other Millennials do not even have a TV, so they watch media over the Internet using smartphones and tablets. One of the most popular forms of media use by Millienials is social networking. In 2010, research was published in the Elon Journal of Undergraduate Research which claimed that students who used social media and decided to quit showed the same withdrawal symptoms of a drug addict who quit their stimulant. Marc Prensky coined the term “digital native” to describe “K through college” students in 2001, explaining they “represent the first generations to grow up with this new technology.” Millennials are identified as “digital natives” by the Pew Research Center which conducted a survey titled Millennials in Adulthood.
Millennials use social networking sites, such as Facebook, to create a different sense of belonging, make acquaintances, and to remain connected with friends. In the Frontline episode “Generation Like” there is discussion about Millennials, their dependence on technology, and the ways the social media sphere is commoditized.
Characteristics of Millennials
Millennials Love Local Community
Millennials strongly believe in local communities, they love to shop local. They prefer local shop down the street than big brand chains or outlets. They’d like to be connected with the businesses they shop.
Millennials love personalized services, They expect businesses to tailor their products and services to their personal tastes and preferences. This is another reason why they love small businesses as they can provide better personalized experience to their shoppers than a big brands.
Love to Share
Millennials love to share their experiences to friends whether good or bad. Social media and smartphone enables them to check-in businesses they visit, share products that they buy and get feedback from their friends.
WiFi Wins Hearts
Millennials love businesses that offers WiFi as they are the connected generation who wants to stay online 24/7. They love to spend more time in a store that provides them casual atmosphere.