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Brands must help consumers become happier or better, say 72% of millennials

Over 70 per cent of 18-35 year olds think it is important that a brand helps them become happier or better, according to a new study of millennials by The Intelligence Group and Engine.

The first global Cassandra Report, which surveyed 3,044 people across 10 countries, also found that millennials want brands to reflect a global mindset and highlight universal values and themes when interacting with them.

Tradition is also a big factor for millennials; 37 per cent say a brand’s heritage is important, while 67 per cent want to strike a balance of maintaining tradition and being modern.

Spending money on luxury goods such as cars and houses is less important to millennials, with 74 per cent citing travel as a life goal rather than settling down to buy a home.

Millennials are also three times as likely to wear socially conscious brands over luxury brands, and four in 10 are willing to pay more for products/brands that are eco-friendly, especially in China (65 per cent) and India (60 per cent).

Jamie Gutfreund, chief marketing officer of Noise, The Intelligence Group commented: “The Cassandra Report uncovered how global millennials have been influenced by the person-to-person connectivity the internet and social media provide. This digitally networked demographic stands to alter or disrupt every sector, from travel and retail to food and entertainment.”

When asked to characterise their generation, the prevailing descriptor global millennials gave was “globally connected.” 38 per cent prefer to communicate with pictures instead of words, reflected in the growing popularity of visual platforms such as Instagram, Tumblr, Snapchat and Line.

Additionally only 23 per cent say that being very wealthy is a life aspiration, with 86 per cent of respondents stating they would rather be healthy than wealthy.

A total of 3,044 respondents, or approximately 300 per country, completed the survey.

All respondents were required to be smartphone owners and active on at least one social networking site. The survey was fielded from June 17, 2014 through July 3, 2014.

Featured by The Drum