Rick Murray: Why Millennial Shoppers Are Alpha-Influencers

Rick Murray: Why Millennial Shoppers Are Alpha-Influencers

The Millennial generation is now the largest generation on earth, but how much influence do they have over what their peers and those in other generations buy?

Rick Murray, Edelman Digital
  • 9 december 2012

The Millennial generation is big. In fact, they’re now the largest generation on earth at 1.8 billion globally. But bigger than their size may be their influence over other generations… or so they think, at least. Indeed, 74% percent of them believe they have a direct influence over what their peers and those in other generations buy.

This week, our Edelman teams will share the results of the newest study from the 8095 Exchange, a global Millennial consultancy, named for the years in which the generation was born, 1980 to 1995. To conduct the study Edelman Berland talked to 4,000 Millennials in 11 countries, and built upon 2010’s benchmark 8095 study.

The world has changed and so have Millennials since the first study was unveiled in 2010. They aren’t kids anymore. The oldest are turning 33, and the youngest are out of high school at 18. As they step headlong into their 20s and 30s, their wallets, and the careers that fill them, will change business forever.

Part of the new 8095 study reveals how the generation is influencing those around them, and how brands can work with this group.

Social Shopping Rules: Millennials don’t typically shop alone, and one in three won’t make a purchase if their friends don’t approve of it. As a generation of alpha-influencers, they want to engage with brands: globally, 7 in 10 say it’s their responsibility to share feedback with a brand whether it’s a good or bad experience. In India and China, 90% of Millennials feel it is their responsibility to share feedback with brands.

Information + Community = Trends: The way this group is finding information, particularly around trends, is rapidly evolving, and the brands that aren’t fast followers are the ones being left behind. The decline in Millennials referencing brands as a top way they learn about new trends (35% in 2010 to 25% in 2012) might be a result of the increase in the number of trusted sources they have at their fingertips. Brands aren’t the only ones that define trends, no matter how hard they try. Communities do. Almost 95% of the 8095ers surveyed said they crowd-source before parting with their money on a purchase.

(Quality or Price) + (Humor or Honesty) = Like: Millennials base their brand purchase decisions around the following: quality; price; what other people are saying about it; and “if the brand helps me in other parts of my life.” Humor, honesty and purpose also rank high in their decision journey. Show them value and make them laugh is a good approach. Work with their influencers to help define the brand and you’ll be even better off.

New Paths to Success: The global recession is hammering Millennials, inspiring many to find new ways to succeed on their own. In Turkey, 76% of Millennials list starting their own business as a top life goal. Globally, nearly half of the Millennials surveyed said starting a business is a top life goal. When it comes to life aspirations overall, their goals are quite traditional. Millennials cite “owning a home” (78%) and “starting a family” (72%) as top three goals. These traditional aspirations are only outpaced in importance by “finding a job that matches my own personal passion.”

Engage Millennials online and off. Allow them to co-create and have two-way dialogue. Entertain them with great content. Provide value. We found that Millennials don’t mind advertising (only 3% found all of it to be boring) but they do expect something in return from brands. They want quality experiences, products and direct engagement from brands. To navigate the high standard Millennials place on brands, it is imperative for marketers to loosen the grips on what b-school told them defines a brand, and start listening closely to how Millennials define the brands they choose to support.

Rick Murray is definitely not a Millennial. He’s the 55 year old President of Edelman Chicago, but he gets to work with a lot of Millennials every day. Some even say they like him. He’s also got three of his own. Follow 8095 discussion on Twitter at @Edelman8095, Tumblr and Sina Weibo, or Rick himself @rickmurray.


Fitness Advocate: Paving The Future of Workouts With Audio

Fitness & Sport
Brand Development Yesterday

Swipe Left On A Dating World Built To Keep You Single And Disconnected

Hinge's VP of Marketing Karen Fein tells us about the service's daring ditch of the swiping culture that's designed to attract advertising revenue, not meaningful connections

Arts & Culture Yesterday

Marvel Comic Tells The Story Of A Heroic Syrian Mother

Madaya Mom is the true tale of a family trapped inside a town for over a year


Get PSFK's Related Report: Future of Automotive

See All
Retail Yesterday

Brooklyn Cafe Lets Customers Pay By The Hour, Not By The Cup

Glasshour is an establishment that provides free coffee and pastries and charges for the time guests spend there

Technology Yesterday

Electric Spoon Changes The Way Food Tastes

The Taste Buddy is being developed to manipulate your taste buds and make everything more delicious

Travel Yesterday

Bike Path In Poland Can Glow For 20 Years Using Solar Power

Cyclists can follow the shimmering blue lanes for better safety each time they ride

Technology Yesterday

Open-Source Toolkit Lets Communities Build Their Own Street Furniture

The Wikiblock database contains 30 blueprints of different neighborhood fixtures including benches, bus stops, and kiosks

Food Yesterday

Tiny Pub Only Has Space For Three People

Make Time For It is a small London pop-up bar that encourages conversation without the distraction of technology


Future Of Automotive
Scenarios Driving The Digital Transformation Of An Industry

PSFK Op-Ed october 20, 2016

Wearable Tech Expert: Designing Technology To Empower Connection To Ourselves

Billie Whitehouse, Founder of Wearable Experiments, shares her new vision for the quantified self

PSFK Labs october 21, 2016

PSFK Picks: Top 5 Performance-Enhancing Wearables

Our new report looks at innovations pioneering the future of performance through intelligent activewear and predictive analytics

Work Yesterday

Community Builder: How to Hack Slack

Claire Wasserman, Founder of Ladies Get Paid, describes how she's using an internal team communication tool to build a network of thousands

Advertising Yesterday

This Beer Was Brewed Just For Scotch Drinkers

Highland Park Scotch Whisky & Sixpoint Brewery have teamed up to create two limited-edition pairings for New York City boilermakers

Mobile Yesterday

Let An AI Librarian Help Sort Your Digital Bookmarks

A new app uses machine learning to help organize your virtual life

Mobile Yesterday

Pizza Hut Tattoo Lets You Place An Order From Your Body

The latest gimmick from the fast-food chain is a tattoo-like sticker that lets customers get delivery with a simple tap on their arm

Travel Yesterday

Reinvented Bicycle Inspired By Supercar Design

The yellow bike based on a Lamborghini has sharp edges and an aluminum alloy frame

Health Yesterday

Health Platform Gives Perspective On Your Weekly Habits

Gyroscope is a new wellness app that works by amalgamating data about your life into beautifully designed visuals

Beauty Yesterday

Korean Beauty Brand Uses VR To Let Customers Pick Their Ingredients

Innisfree created a unique experience for its Shanghai Disneyland customers with a virtual reality trip to select what goes into their purchase

Arts & Culture Yesterday

3D-Printed Creations Resemble Floating Paper Outlines

Japanese design firm Nendo's exhibition features works that look like sheets of material being folded, torn, and crumpled

No search results found.