What Millennials Care About and Why It Matters

INC

Millennials currently make up over 25 percent of the United States population, and over 20 percent of consumer discretionary purchases, which accounts for over a trillion spending dollars.
CEO, Alumnify
CREDIT: Getty Images

Born between 1977 and 2000, Millennials currently make up over 25 percent of the United States population, and over 20 percent of consumer discretionary purchases, which accounts for over a trillion spending dollars. More than ever before, the direct buying power of Millennials is influencing older generations and driving innovation in technology. Take Facebook, for example. While only 19 percent of older generations have 200-plus friends, 46 percent of Millennials have at least 200 Facebook friends. They are more active on social media, they are more versed in the new digital world, and their wants and opinions hugely influence the development and production of our society. Meeting the increased and changing demands of the Millennial population are a subset of companies, organizations, and projects that cater towards the Millennial mindset. From technology, to work style, to healthy eating–Millennials are changing the tides of our society’s focus on our lives and how we live them.

Adjusting to this Millennial revolution, many organizations are re-evaluating their business’ priorities, and a few of them are standing for a change. One company in particular that is growing from the Millennial population is Uber. Located in San Francisco, California, Uber allows customers to use their smartphones to coordinate pickups and trips to different locations. It has become the go-to for transportation, and is often cheaper and more convenient than cabs, trains, buses, and other forms of transportation. For a generation that wants to go places quickly and directly, Uber has seen wild success. Uber’s 50 billion dollar valuation is proof that we should all pay close attention to what Millennials care about. (more…)

Census: Hispanics overtake whites to become California’s largest ethnic group

The Sacramento Bee

BY PHILLIP REESE AND STEPHEN MAGAGNINI

preese@sacbee.com

It’s official: Hispanics are now the largest ethnic group in California.

About 15 million Hispanics lived in California on July 1, 2014, compared to roughly 14.9 million non-Hispanic whites, according to U.S. Census Bureau estimates released late last week. The California Department of Finance predicted in 2013 that Hispanics would outnumber whites in 2014; the census figures confirm that prediction.

The new data represents a historic shift over a short period of time. California has six times as many Hispanics today as it did in 1970. The number of non-Hispanic whites in the state has declined since 1970. (more…)

Millennials, Millennials Everywhere — But How to Reach Them?

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BY BARRY FREY VIDEO EVERYWHERE — DPAA MAY 28, 2015

Much like the “Rime (yes, that’s actually the correct spelling) of the Ancient Mariner” (“Water, water, everywhere; nor any drop to drink”), marketers are often faced with a similar conundrum when it comes to reaching Millennials: Their plentiful numbers are tantalizing but belie the fact that they can be quite difficult to engage.

Millennials (born 1977-1999) are 77 million strong, on par with Boomers, and represent 24% of the population. (1) However, more important than their sheer numbers is their purchasing power — $170 billion annually. Their spending will continue to grow and is expected to reach $1.4 trillion by 2020. (2)

Despite Millennials’ vast numbers, for most marketers reaching them is a challenge. More than any other generation, Millennials have been shaped by advances in technology and computing. A 2014 Pew study found that 25% of Millennials believe their relationship to technology is what makes their generation unique. This is a generation that has no concept of an Internet-less world. Their widespread ownership and usage of smartphones, tablets, computers and the Internet has changed how Millennials communicate and interact with each other and the world at large.

Media Habits (more…)

The 78 Counties Where Minorities Have Become the Majority

A Pew map shows that, between 2000 and 2013, whites became the minority in 78 U.S. counties.

BY TANVI MISRA, CITYLAB
April 2015

(Pew Research Center)

April 10, 2015 By 2040, the country’s white population will no longer be the majority. But for many regions around the country, this demographic shift has already arrived. A new map created by the Pew Research Center pinpoints the 78 counties in 19 states where, from 2000 to 2013, minorities together outnumbered the white population.

Pew crunched Census numbers from the 2,440 U.S. counties that had more than 10,000 residents in 2013. Whites made up less than half the population in a total of 266 counties. Even though these 266 counties made up only 11 percent of the counties analyzed, they contained 31 percent of the country’s total population, with many of them home to dense urban areas.

Most of these counties are sprinkled around the Sun Belt states in southern part of the country (below).

Of the 25 counties with the largest total populations, 19 now have nonwhite majorities. As of 2000, six of these (four in California and two in Florida) had white majorities. The most dramatic change within the last decade can be seen in counties in Georgia. The share of white residents in Henry County, for example, fell from 80 percent in 2000 to a little less than 50 percent in 2013.

This year, Millennials will overtake Baby Boomers

Pew Research Center

BY Richard Fry
January 16, 2015

Millennials largest generation outnumber Baby Boomers
This year, the “Millennial” generation is projected to surpass the outsized Baby Boom generation as the nation’s largest living generation, according to the population projections released by the U.S. Census Bureau last month. Millennials (whom we define as between ages 18 to 34 in 2015) are projected to number 75.3 million, surpassing the projected 74.9 million Boomers (ages 51 to 69). The Gen X population (ages 35 to 50 in 2015) is projected to outnumber the Boomers by 2028.

The Millennial generation continues to grow as young immigrants expand their ranks. Boomers – a generation defined by the boom in U.S. births following World War II — are older and shrinking in size as the number of deaths exceed the number of older immigrants arriving in the country.

FT_generations-defined (more…)

Internet to Hit 3 Billion Users in 2015

eMarketer
eMarketer

Nearly half the world’s population will have regular access to the web by 2018

Unauthorized Immigrants: Who they are and what the public thinks

Pew Research Center

JANUARY 15, 2015

The U.S. is a nation of immigrants. But unauthorized immigrants and U.S. immigration policy have become a source of political debate, with Congress and President Obama disagreeing over the best course of action to address issues such as deportations, shielding unauthorized immigrants from deportation, securing the border, and overhauling the nation’s legal immigration system. That debate comes as the U.S. marks the 50th anniversary of the 1965 Immigration Act that has provided the foundation of today’s immigration laws.

For years, the Pew Research Center has estimated the size and characteristics of the U.S. unauthorized immigrant population and surveyed Americans about immigration policy. Here are key findings.

Americans are divided over the executive action President Obama announced last November expanding the number of undocumented immigrants permitted to work and stay in the U.S.

The public is divided over President Obama’s recent executive action that expands the number of undocumented immigrants permitted to stay and work in the U.SAbout as many disapprove (50%) as approve (46%) of Obama’s action, which could makeup to 4 million people newly eligible for deportation relief, according to a survey last December. About eight-in-ten Republicans (82%) disapprove of the executive action and about seven-in-ten Democrats (71%) approve of it, with very strong attitudes on both sides. Hispanics overwhelmingly support the deportation-relief action: 81% approve, including 59% who very strongly approve. But non-Hispanic whites disapprove of it by nearly two-to-one (62% vs. 34%), with nearly half (49%) disapproving very strongly.

Unauthorized immigrants from Mexico will benefit most under Obama’s executive actions. (more…)

Amid The Stereotypes, Some Facts About Millennials

NPR

NOVEMBER 18, 2014

SAMANTHA RAPHELSON

Friends balance on pilings at the beach.
Tomas Rodriguez/Corbis

This story is part of the New Boom series on millennials in America.

“Millennial” is the buzzword of the moment — with much of the national conversation focused on stereotypes and anecdotes. But are young adults today really all that different from those of previous generations?

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Use the hashtag #newboom to join the conversation on social media.

A review of data shows that millennials do have characteristics that set them apart. Unlike their parents’ generation, millennials are ushering in an age when minorities will lead the U.S. population. Many of them aren’t too keen on marrying early. They are the most educated generation — but even so, a majority remains undereducated. And since they entered the workforce in the midst of a sluggish economy, many also remain underemployed.

Despite those hard realities, millennials as a group are optimistic about what their future holds.

We’ve charted some of the most interesting aspects of the millennial generation below. When compared with past generations, these shifts show how millennials are redefining what it means to be young in America.

A note on dates: There is no consensus on the exact years that generations begin and end. For this post, we’ve defined millennials as those born between 1980 and 2000; Generation X, between 1965 and 1979; and baby boomers, between 1946 and 1964. Also, these charts represent averages — there will always be exceptions to these trends. (more…)

The Recession Generation: How Millennials Are Changing Money Management Forever

Forbes
They’re richer than you think. They’re more scared than their elders. And they’re ripe for the picking. Inside the race to cash in on Millennials’ trillions. (left page: Christian Peacock for Forbes; right page: Jamel Toppin for Forbes)

By Janet Novack and Samantha Sharf

Without any apparent irony, the woman who aspires to change financial services in the 21st century sits in a conference room in Manhattan she named for Warren Buffett, despite his famous disdain for technology, and ticks off apps that have reimagined how her generation interacts with the world: Uber for transportation, Tinder for dating, even Washio for laundry and dry cleaning. “We do things on our schedule, from our phones with the push of a button, and we absolutely demand affordability,” says Alexa von Tobel.

Her point, of course, is that financial services are ripe for some youthful disruption. And the 30-year-old New Yorker with a name more befitting an octogenarian baroness has perhaps the leading company for doing just that: Von Tobel founded and runs LearnVest, a site and app designed to make managing your money as easy as streaming music or ordering from Amazon. Since 2009 she’s raised a whopping $72 million, including from Jim Breyer’s Accel Partners, which famously funded Facebook in its early stages. The latest $28 million round, in April, valued LearnVest upwards of a cool quarter-billion.

And von Tobel isn’t alone. Over the past three years, according to CB Insights, more than $1 billion has been sunk into tech-driven personal finance companies–a whopping $261 million in the second quarter of 2014 alone–with a special emphasis on startups targeting young investors, complete with the user-friendly, low-cost, mobile-enabled features they crave (social responsibility is a plus, too). There’s Wealthfront, which helps young tech workers convert company stock into a diversified portfolio of ETFs; Betterment, which automates savings and asset allocation; and Motif Investing, which allows small investors to bet their money on a whole industry or trend (say, “Digital Dollars”) rather than a single stock. (more…)

Top 40 Musical Universities in America: How Students Listen

SpotifySpotify Insights

September 16th, 2014 by 

how_students_listen

(interactive map)

This fall, millions of students are settling in at the universities where they’ll study, socialize, and prepare for their futures — and that includes discovering music they’ll listen to for the rest of their lives.

Maybe it’s all the fresh sounds encountered just as they’re learning new things and working out who they are, but for whatever reason, people tend to establish their music taste at college, and for that matter, during the adolescent to young adult years. The classic rock girl might discover vintage jazz, or the EDM enthusiast gravitate towards hip-hop, and everyone is exposed to lots of new music, no matter where they’re coming from.

Music accompanies much of the studying, socializing, and just about everything else that goes on at universities, so we wondered: Which are the most musical universities? And what does each of those schools listen to?

We found the schools whose students signed up for our student deal at the highest rates last semester, because that plan appeals to students who love music. Then, we ranked the schools where these listeners played the most songs, because people who love music listen a lot: (more…)