They aren’t a new rock group or an apocalyptic religious cult. Millennials, also known as the Generation Y, are today’s young adults ages 18 to 34 or those born from the early 1980s to the early 2000s. Also referred to as “The Next Great Generation,” this cohort reportedly has a purchasing power of USD 1.3 trillion annually in the US alone. With a population of 86 million in the US, 7% higher than the baby boomers, this spending power is seen to grow further in the coming years.
If you wish to tap into this profitable market, here are three things you need to know about their reading behavior and interests.
1. They DO read
A 2014 study reports that the younger generation is outreading the older ones. The findings reveal that average reading time for ages 15 to 24 is 50 minutes per day, higher than those ages 25 to 64 who only spends 32 minutes on reading.
It is also interesting to note that while millennials are surrounded by technology, they are more likely than their elders to say that important information is not available on the Internet.
2. Millennials are experts at scanning
Because most of them spend time online to look for reading or educational materials on information-laden search engines, many millennials are skilled at scanning information.
I don’t read books per se, I go to Google and I can absorb relevant information quickly. Some of this comes from books. But sitting down and going through a book from cover to cover doesn’t make sense. It’s not a good use of my time as I can get all the information I need faster through the web. You need to know how to do it — to be a skilled hunter, said a student from Florida state.
The takeaway and challenge here may be to create products that would be relevant to the needs of and appealing to this generation. How do you write a book that will appeal to scanners? Consider that challenge as a writing prompt.
… millennials are focused on solving real life problems through online research — both in search and social media. Brands that can bring relevant, simple solutions to real world problems are the ones that are going to win attention from this generation, stressed entrepreneur and marketer Sujan Patel.
3. Presentation matters
Their ability to take loads of information in the speed of a Google search or a tap of their mobile phones should serve as your guideline in product design and branding. Mobile and social media engagement are essential in your marketing.
A marketing and research specialist on Millennial Marketing has this observation:
It is striking how much more attuned younger consumers are to the way information appears on the page. Older consumers tend to overlook poor design and focus on the meaning. Millennials have a hard time getting past the way it looks.
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