Dive Brief:
- Media network Carat has crunched a variety of data to segment millennials into four distinct groups: Trend-Netters, Alter-Natives, Lifepreneurs, and BetaBlazers.
- There are more than 85 million millennials aged 15 to 34 in the U.S., but only about 36 million fit the accepted profile of the millennial as a hyperconnected extrovert.
- The report tracks self-reported CSS data, behavioral data from Nielsen and digital panels, and pixel tracking on more than 14,000 millennials to define the new segments.
Dive Insight:
The popular stereotype of the millennial consumer as a hyper-connected, optimistic, digital extrovert applies to only about 42% of the 85 million Americans making up the demographic, according to The Millennial Disconnect, new report from media network Carat and the the Dentsu Aegis Network, a London-based marketing communications firm.
Still the largest group of millennials, “Trend-Netters” tend to be fashionable, savvy about popular culture and impulse-driven, the report says. But then there are also “Alter-Natives” (23%), who skew younger and are more concerned about personal privacy; ambitious “Lifepreneurs” (19%), who set their gadgets aside in search of work/life balance; and “BetaBlazers” (16%) who employ digital technology to be more wordly and adventurous.
Each segment's preferences has implications for retailers' marketing efforts, the report says. The extroverted Trend-Netters like brands that communicate luxury and status, while Alternatives like transparency. The hard-working Lifepreneurs act more like baby boomers, looking for practical, reliable brands and coupon deals. And the BetaBlazers seek out exclusivity and see a brand’s back story as an indicator of quality.