Millennials Do you know who they are?

Millennials Do you know who they are?

This is a reprint from CU Time 4/20/2011

Effectively marketing to Millennials–consumers who fall in the 16 to 31 age range and are typically grouped with Gen Y–requires flexibility, adaptability and fluidity, said a new report released by trends and futures consulting firm The Futures Group.

“Unmasking Millennials: The Futures Company on a Misunderstood Generation,” summarizes consumption habits and reveals that Millennials live in a constant state of flux, with technology playing an integral role in their ever-changing lives.

The firm found that common Millennial stereotypes–optimism, openness to the world, social consciousness and fluency in technology–do not always ring true. Researchers say the 16 to 31 bracket is indeed tech savvy, but about half are concerned for their economic futures and many are developing inward attitudes. The report also states Millennials are less motivated to make a difference in the world than their Gen X predecessors are, and  they’re more interested in happiness than materialism.

The report goes on to define four Millennial “tribes”–Striders, who seem unaffected by the economic downturn and optimistic about their futures; Steppers, who have been hit hard by the downturn and are careful about purchases; Satellites, who are after the hottest, most current gadgets and software; and Spirits, who are “open, connected and socially conscious, directing their attention and purchasing power toward the things they’re interested in.”