In past blogs we have referred to millennials on multiple accounts, but always as a singular demographic. But considering the fact that millennials span multiple decades (currently ages 18-34), it is only logical that there are subgroups within the millennial demographic. Despite what the standard stereotype will tell you, millennials are a diverse group of young adults that do more than just sip lattes and talk about their “awesome” trips abroad.
In an effort to better understand the millennial demographic, the digital advertising network, Exponential, performed research and analyzed data on four million millennials. The research defined 12 distinct subgroups of millennials, distinguished by the individual’s reaction to three major forces: the economy, globalization, and social media.
So let’s take a look at the first six of twelve subgroups making up the millennial demographic.
1. Powerful Women
This subgroup is comprised of assertive women who are focused on their careers. Their defining traits include high purchase power (but little interest in domestic products such as cookware), high professional influence, and a lowered interest in dating.
2. Masculine Nerds
This group of brilliant bros are your party-hardy males who can program an app after hours. They are career focused (to the point of back-breaking insomnia), have disposable income, and like to spend it on beer and expensive tech.
3. Underpaid City Slicker
This group comprises of the ambitious, yet underpaid, young adults who refuse to accept that the big city is just too expensive. They are highly educated, likely stuck in a low-paying job, and living in a cramped apartment with two-too-many roommates.
4. Under Skilled Shut Outs
This millennial group is made up of mostly unemployed adults who have inapplicable degrees or no college education. According to the study, this subgroup is mostly male, living in suburban areas, with limited job possibilities, and a not-too-bright future.
5. Reminiscent Hipsters
This group finds themselves knee-deep in old-school hobbies and styling. They seek comfort in traditional blue-collar activities (i.e. bowling) and will go so far as to pull out the photo album to learn more about great grandma Gladys.
6. On-a-Budget World Travelers
This group is your “backpacking through Europe” crowd who are ever-seeking an adventure, if for no other reason than to show off to their friends stuck across the pond. This subgroup has an insatiable need to see something new, have little money to their name, likely speak more than one language, and have an appreciation for global sports (fútbol anyone?) and cultures.
One thing that is apparent in the first six subgroups, there is a sense of adventure and individuality present in the millennial demographic. Whether your wanderlust has driven you to explore West Africa, or your too-small apartment in SOHO has you working four jobs, millennials have no shortage of drive. It’s just a matter of whether the world can accommodate the eccentric tastes and requirements of a developing millennial mind.
In tomorrow’s blog, we will continue our list, describing the last six subgroups of the millennial demographic.