Packaged Facts has found that younger adults tend to be more optimistic than their predecessors, despite the economic climate.
A recent report from Packaged Facts has revealed that Millennials are more optimistic overall than previous generations. No matter what the state of the economy, for the past decade, 18- to 34-year-olds have been highly confident consumers, even though Millennials have experienced more economic turmoil and financial hardship than their generation-x predecessors.
Their fundamental faith in their economic future becomes even firmer when Millennials become parents. Millennial dads are more likely than other 18- to 34-year-old men to agree that they are better off financially than they were 12 months ago (46% versus 31%). Both moms and dads in the 18- to 34-year-old age group are much more likely than others their age to expect to be better off 12 months from now and to feel financially secure.
The findings were published in the brand-new Packaged Facts report, Millennial Parents in the U.S.
The positivity of Millennial moms in particular has the potential to trickle down to impact the behaviors of those around them—a factor Packaged Facts recommends marketers must remain aware of. For instance, Millennial moms have an impact on the consumer decisions made by friends and family. Although Millennial moms are less likely than other women their age to be asked about health and nutrition matters, their friends are more likely to seek them out for advice about financial matters and the purchase of electronic equipment.
The good news for advertisers is that Millennials are largely open to becoming marketed to. Millennial moms, for example, are more open to advertisements than older moms. Moms in the 18- to 34-year-old age group are significantly more likely than their Gen-X counterparts to agree that “advertising helps me choose products for my kids.” Likewise, these younger moms are especially receptive to product placement strategies, and are more likely than other women their age and older to purchase a brand-name product they recognize from a TV show. The same is true of the willingness by Millennial moms to receive advertising on their smartphones and to subsequently purchase the advertised products.