What does turning 40 mean? Millennials are entering middle age. They have graduated college, many with great debt. They are entering the work force, starting families, and buying homes.
According to a report by Kraus Group Marketing:
- 40% of Millennials are now homeowners, this is up from 26% in 2016
- 38% are married
- 40% of Millennial women have had children
- It is estimated that by 2030, Millennials will represent 75% of all workers in the workplace
Their relationship with technology continues to define them and separate them from the generations that have come before. Millennials are more tech savvy, have a higher level of education and are more likely to spend money on luxury items.
Pew Research Center shows that more than 1/3 of all Millennials are online all the time. And 36% admit to going online “almost constantly”.
Media usage among any generation can fluctuate by market, income, and any number of lifestyle influences. As an example, over the past 5 years, Millennials in Los Angeles and San Francisco have changed their media usage in subtle ways:
Source: Los Angeles and San Francisco Scarborough Research 2015 Release 1 (Feb 2014 – Jan 2015) vs 2020 Release 1 (Jan 2019 – Jan 2020)
Millennials were early adaptors to the digital world. They may not have been born with a device in their hand, but they learned early on the power of digital and how to include it in their everyday life. As the digital landscape continues to evolve so will their use.