Did you grow up with technology readily available? If so, you probably couldn’t imagine without it.
If you grew up without the ability to be constantly connected, then it might be hard to comprehend it. After all, it is a significantly different world.
How much do you understand about millennials and digital natives? For those who don’t know much about this generation of consumers, you need to learn quickly.
The first important thing to know about digital natives is that they represent nearly 25% of the entire market. According to bazaarvoice, “By 2017, Millennials – those consumers now in their mid-teens to mid-30s – will have more spending power than any other generation.”
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Next, it’s important to realize that this group does consist of consumers, even though past speculations said differently. According to a study conducted by The Boston Consulting Group (BCG), Barkley, and Service Management Group (SMG), “On average, U.S. Millennials already shell out and influence the spending of hundreds of billions of dollars annually — an amount that will only increase as they mature into their peak earning and spending years.
Finally, we all know that Facebook is a popular social network, but did you know that millennials are more likely to buy from a brand that has a Facebook page? The same study from BCG said approximately 33% of millennials are more likely to buy from a brand with a Facebook page. Only 17% of non-millennials reported the same.
For more information on digital natives, check out our Digital Native Survey, where we asked digital natives directly about their content consumption habits.