Are Millennials Still Hot Stuff? Understanding Emerging Consumer Audiences

Are Millennials Still Hot Stuff_ Understanding Emerging Consumer Audiences .docx

Marketing companies have been competing for the minds of millennials fiercely over the last few years – and for good reason.

Millennials represent about a quarter of the entire US population, and have over $200 billion in annual buying power. Though they have less discretionary income than Baby Boomers and older generations, they have a lot of influence – and are hard to reach with traditional marketing methods.

But are millennials still the hottest consumers out there? Or should we be focusing our efforts on a new generation of consumers? Here’s the scoop.

Millennials Are Still The Most Important Consumer Generation – For Now

Millennials are defined as individuals who were between 18-34 in 2015 by the Pew Research Center. They are just now entering the prime of their lives as consumers.

As millennials age, their income continues to grow as a generation. Most millennials are now out of college and working in professional careers, and millennials are the most educated generation to date.

This means that the buying power of millennials is only going to grow in future years, as they begin to start families and earn more discretionary income.

However, millennials will not stay at the top of the heap forever. As time goes on, Generation Z continues to grow – and a new generation of consumer is born.

Gen Z – The Largest Consumer Generation In History

Generation Z is defined as the “post-millennial” generation. While most definitions vary, it’s agreed that most Gen Z individuals were born around the year 2000 or later. This generation already makes up 25% of the population, and is forecasted to continue to grow.

As Gen Z becomes older, and younger people begin to enter the consumer market, they are likely to become the most highly sought-after consumer generation, just as millennials were before them.

Focus On Millennials In Marketing Efforts – But Don’t Forget About Gen Z!

How should brands market their products? Luckily, millennials and Gen Z both share a few common attributes. Consumers from both generations are tech-savvy and have quite a bit of influence on the market – and both Gen Z and millennial consumers do not respond well to traditional advertising methods.

While millennials should be the focus on most marketing efforts, Gen Z should not be overlooked. Brands should be using social media platforms like Snapchat, Instagram and Twitter to reach a younger audience, and should always be on the lookout for hot trends that could appeal to Gen Z consumers.

Conclusion

As time goes on, millennials will become less important as a consumer audience, and the importance of Gen Z will grow. So focus on millennials for now, but don’t forget about the younger generation.

The only Credit Card you will ever need

plastc-social-bgWe run just about Apple everything in the Canopy office and we aren’t shy about coveting just about all-things-Mac, but after all the excitement and now extended delays around Apple Pay we’re reluctant to admit, that it might be time to search for alternatives. Apple Pay is encouraging people to leave their credit cards in their wallet and pay for goods in stores using an iPhone, we found Plastc, a sort of electronic credit card that can do about just the same.

But how much technology can you fit into a 0.8-millimeter-thick credit card?

Well, a lot. Not only can Plastc store credit cards, it can also show loyalty and gift cards. How does it work? It is simple. It works with an app that enables you to quickly swap out cards, add new ones, and track your spending. Plastc itself stores up 20 cards but the app can hold an unlimited number. On Plastc, you can switch up card details through the e-ink touchscreen panel. And it is quite secured with PIN, photo ID, proximity alerts, and ‘Return Me’ mode and If stolen or lost, you can remotely wipe your data.  The card is rechargeable and last 30 days once fully charged but it locks in your default credit card if uncharged so you can still use it until you charge up again. So, if you are looking for a simple and elegant way to store your many credit & debit cards, loyalty and gift cards, access cards and more in a single, minimalist card, and say goodbye to your bulky wallet, Plastc could be the way to go. The card would be available in summer 2015. You can get more info on their website.

What Sparks our Fire: a credit card that gets a lot smarter.

Are you ready for the future of payments with Plastc? What are your thoughts on digital wallets

An Object Of Desire: Elemoon

10636749_264615793729578_2573413548389599085_oWearable tech bracelets are often known to be rather bulky and downright ugly but not this time. Meet Elemoon, the jewelry that combines technology and style. Elemoon is a techy and pretty LED bracelet for the fashion conscious. Elemoon changes color to match your outfit, notifications, has step tracking (like fitbit), displays time and you can even use it to find your phone by swiping the bracelet when sync and it will make the phone emit a sound alert. You can also design individualized icons that light up when various contacts call or message you. For instance, set a heart when your boyfriend calls. Isn’t it fabulous. Inside Elemoon are an array of 75 brilliant LED lights that helps the accessory be colorful and stylish. In terms of battery usage, the magnetically charged device can last from one day to one week depending on user habits. We think the concept of Elemoon opens up the wearable market to a more fashionable crowd.  So, if you think Elemoon is something you could benefit from, visit the website now to pre-order to benefit from great deals.

What Sparks Our Fire: customizable jewelry that syncs with you

Would you consider bringing stylish technology to your wrist everywhere with Elemoon?

Say Thanks With Facebook

8b1de2b5-343b-4734-b3a0-66048db520a0-bestSizeAvailableWhat is the most important part of your Facebook experience? Your friends, of course. For that matter, Facebook has launched a new ‘Say Thanks’ feature to express your gratitude to friends, family, co-workers and loved ones. Say gracias by creating and sharing an animated slideshow of your shared Facebook history set to the tune of inspirational music. The slideshow gives you the chance to relive past moments with the person you select. You can edit photos and posts those that best represent your friendship. There’s no limit to how many personalized videos you can create and share. So, get moving, it might take you a while to thank all 1000+ of friends. And please don’t forget those bothersome ones who keep inviting you to play FarmVille. The new feature is similar to the year-in review videos Facebook offered at the end of 2013 that we all loved. How apropros, ‘Say Thanks’ came just in time for the Thanksgiving season.

What Sparks Our Fire:  The perfect Facebook feature to celebrate friendships on social media.

Will you be using Say Thanks? Create your personalized video card here.

The Ultimate Homework Helper

App that solves math equationsOf all the school subjects to hate, most tend to gravitate towards math. Simply because not everyone gets the necessary help when solving a math problem. So, to make math less painful, the team at MicroBlink created Photomath, the world’s first camera calculator, available for free in the app Store. In addition to solving your problems, PhotoMath will show you all the steps it took to get to the answer. The app is designed for middle-school kids.

Photomath is easy to use. All you have to do is scan a printed equation (no handwritten ones, yet) with your smartphone and watch the app solve the problem in real-time. Next, click through the problem solving option if you wish to see the steps involved. The app serves as a homework helper rather than homework doer.

What Sparks Our Fire: A helpful app that has the potential to make kids love math.

Is PhotoMath a great app for kids or do you think it will lead to cheating?