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Why Targeting Millennial Consumers Might Not Be Such a Hot Idea After All
ADWEEK ^ | June 11,2019 | By Robert Klara

Posted on 06/12/2019 12:59:25 PM PDT by Hojczyk

A growing body of evidence shows why Gen Y consumers aren't ideal: because many of them are broke

But a troublesome detail has been persistently overlooked over the last decade of wooing this crowd: Millennials—many of them, anyway—are strapped for cash.

That’s one of the takeaways of a brand new study from Deloitte’s Center for Consumer Insight, which surveyed over 4,000 American consumers to determine their current consuming habits. And when it came to millennials, one statistic stuck out: Since 1996, the average net worth of consumers under 35 has dropped by 35%.

The problem, Abramson believes, is that brands drunk on boomer spending rushed in for the millennials before stopping to consider what made that group different—and, in many ways, poorer.

Companies, “saw the ROI for boomers,” she said. “They saw immediate results. They got very excited about it.”

(Excerpt) Read more at adweek.com ...


TOPICS: Business/Economy
KEYWORDS: cash; consumers; millennials; millennialsdebt; money; networth; savings
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1 posted on 06/12/2019 12:59:25 PM PDT by Hojczyk
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To: Hojczyk

That is why they like free stuff..????


2 posted on 06/12/2019 1:00:02 PM PDT by Hojczyk
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To: Hojczyk

They will spend a little money, a lot of times...but they don’t have a lot of money to spend once.


3 posted on 06/12/2019 1:01:08 PM PDT by Vermont Lt (If we get Medicare for all, will we have to show IDs for service?)
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To: Hojczyk

Too late for Buick and Scion.


4 posted on 06/12/2019 1:02:13 PM PDT by mewzilla (Break out the mustard seeds.)
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To: Hojczyk
Exactly. It will take AT LEAST four more years of hard Trump policies to overcome what became ingrained during eight years of ObaMao:

  1. Free stuff
  2. More free stuff
  3. Socialism good
  4. White man bad, etc.

5 posted on 06/12/2019 1:05:10 PM PDT by Vigilanteman (The politicized state destroys all aspects of civil society, human kindness and private charity.)
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To: Hojczyk
Thanks so much for your support to this point... I personally apprecaite it...
FReepers, it's far beyond time to wrap up this FReep-a-thon.  Lets do it today.  Please chip in.


President Donald J. Trump and the Free Republic of the United States of America
President Donald J. Trump's address to the United Nations on 09/19/2017.

Ramirez political cartoon:  Google LARGE VERSION 06/12/2019: LINK  LINK to regular sized versions of his political cartoons (archive).
Garrison political cartoon:  Socialism the Millennial Flytrap LARGE VERSION 06/2019: LINK  LINK (scroll down) to regular sized versions of his political cartoons (archive).




FReepers, 96.269% of the Second Quarter FReep-a-thon goal has been met.  Click above and pencil in your donation now.  Please folks, lets end this FReepathon.  Thank you!

...this is a general all-purpose message, and should not be seen as targeting any individual I am responding to...

Just $643.00 dollars to 97.00%

6 posted on 06/12/2019 1:06:26 PM PDT by DoughtyOne (This space for rent...)
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To: Hojczyk

No money after peircings, tattoos, and recreational drugs?


7 posted on 06/12/2019 1:09:25 PM PDT by doorgunner69
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To: Hojczyk

This is why we need unlimited immigration. To buy everything on credit that American Millennials can’t.


8 posted on 06/12/2019 1:13:55 PM PDT by Shadow44
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To: Hojczyk

If the Boomers had put at least as much effort into raising their kids as they did on pursuing material happiness then maybe the millennials would be in a better place at this time.


9 posted on 06/12/2019 1:16:10 PM PDT by Catmom (We're all gonna get the punishment only some of us deserve.r)
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To: doorgunner69


No money after peircings, tattoos, and recreational drugs?

well, everything's expensive.     cash for clunkers destroyed the cheap used car market. education? forget it. same for health care.     and eating out---nobody seems to know how to cook.


10 posted on 06/12/2019 1:16:43 PM PDT by 867V309 (Lock Her Up)
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To: 867V309

“nobody seems to know how to cook”

Ain’t that the truth. I have a contractor at my work that has a little farm and he brings in fresh peaches and blueberries every year. I whip up a little cobbler in the toaster oven with them and the millenials at work act like I just did some black magic sorcery.


11 posted on 06/12/2019 1:21:34 PM PDT by Boogieman
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To: Hojczyk
The article marks the start of the decline in spending money as 1996. What has changed is the obsession to have a "smartphone".

These millenials and younger get locked into phone company "plans", month after month, year after year and expensive $1000 dollar phones. Couple that with student loan debt and crummy jobs, sky high housing costs, and there is little disposable income left at the end of the month.
 

12 posted on 06/12/2019 1:21:54 PM PDT by Governor Dinwiddie (September 11, 2001 : Never forget, never forgive.)
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To: Hojczyk

Millennials are caught in a political-economic contradiction. The only way to politically improve their general condition is to elect small government free marketeers but their sight is much shorter than that and not informed by the History they did not get through their educational careers. Putting a Socialist government in power will very quickly cause a deterioration of the whole economy and the millennials will then become more equal with all that redistribution-free stuff but their overall prospects and prosperity will decline with the 97% of the population that is not part of the ruling class.


13 posted on 06/12/2019 1:22:43 PM PDT by ThanhPhero
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To: Hojczyk

I went to the site but it did not stop jumping around. I left the tab up and returned to it every few minutes and it was still jumping around and going blank for a few seconds repeatedly. I gave up after 20 minutes or so.


14 posted on 06/12/2019 1:24:47 PM PDT by ThanhPhero (xxWwvv)
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To: doorgunner69

Don’t forget the $700 smart phones.


15 posted on 06/12/2019 1:25:51 PM PDT by CaptainK ('No collusion, no obstruction, he's a leaker')
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To: Hojczyk
They just figured out that the generation that went nuts for Napster doesn't want to or can't pay for anything?

-PJ

16 posted on 06/12/2019 1:28:51 PM PDT by Political Junkie Too (The 1st Amendment gives the People the right to a free press, not CNN the right to the 1st question.)
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To: Hojczyk

Re: Since 1996, the average net worth of consumers under 35 has dropped by 35%.

Because the number of white consumers under age 35 has also dropped by 35%?


17 posted on 06/12/2019 1:28:56 PM PDT by zeestephen
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To: Governor Dinwiddie

Their daily trips to Starbucks will dispose of the rest of the disposable.

I’ve always lived by the maxim, “A portion of all I earn is mine to keep”, along with the old Volkswagen slogan, “Live below your means”.


18 posted on 06/12/2019 1:29:12 PM PDT by elcid1970 ("The Second Amendment is more important than Islam.")
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To: CaptainK

And the $$ monthly $$ for the deluxe data package so they can post every little detail of their day.


19 posted on 06/12/2019 1:38:51 PM PDT by doorgunner69
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To: Hojczyk

Lemme guess- the university syndicate has bled them dry


20 posted on 06/12/2019 1:39:34 PM PDT by stanne
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