For Affluent Millennials, Brands Matter
Nearly three-quarters call brands “integral” to their lives
November 23, 2016
Affluent millennial internet users are strongly attached to brands—much more so than those with less income. More than half of those in a worldwide survey said they were defined by the brands they purchase.
Nearly three-quarters of affluent millennial internet users, defined in this case as the top 25% for income in their country, said their favorite brands play an integral role in their life, a survey from BBC Advertising, which sells advertising and sponsorship on behalf of BBC Worldwide’s properties, found. A significant number of nonaffluent millennials (51%) felt the same way.
Affluent millennials were also more likely than their nonaffluent counterparts to agree that they were brand-conscious. More than two-thirds of affluent millennials said they were, meanwhile fewer nonaffluent millennials—48%—agreed.
It’s not just brands that affluent millennials feel so strongly about, they also care very much about their personal image and products. Again, more so than nonaffluent millennials. For example, 79% of affluent respondents said they look after their appearance, while 68% of nonaffluent respondents agreed. Affluent millennials were also more likely to try new products and were more inclined to buy premium versions of a product than their nonaffluent counterparts.
But let’s cut the millennials some slack. More than 40% in the US said they had donated to a charity or a nonprofit in the past 12 months, according to a February 2016 survey by The Ad Council and Crowdtap, while about one-third had volunteered at a local organization.
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