Everyone is trying to decode millennials these days. As the most attractive market segment and the most disruptive force in the market, they’ve become the subject of countless studies and have been looked at from multiple angles, multiple times.
However, not all millennials can be grouped into a single category. Millennials who belong to various ethnic groups, for instance, have their own unique tastes and habits, and they won’t respond in the same way to generic millennial marketing. So how are millennials with ethnic backgrounds different? And how should brands approach them?
First, let’s define the general characteristics of the millennial segment:
- Millennials were born between 1980 and 1998.1
- There are currently more than 90 million millennials in North America.2
- Millennials are estimated to be responsible for $70 billion in spending in Canada, 1 and by 2018, they’ll have more spending power than any other generation.2
According to the Millennial Disconnect Study by Dentsu Aegis Network Canada3, 42 percent of millennials can be described as socially conscious, constantly connected, and interested in luxury items. The remaining 58 percent of millennials include groups like: alter-natives (who are less active in the digital space and value knowledge, experience, and factual information), LYFPreneurs (who are driven by offline relationships and are healthy and environmentally-conscious), and BetaBlazers (who are brand loyal, focused on achieving success, and purchase based on quality).
Millennials generally value community relationships, engaging experiences, and giving back to society. They’ve lead the transition to mobile commerce and expect brands to deliver consistently smooth, multichannel, digital interactions. Overall, millennials represent the greatest lifetime value in the marketplace, and they remain very loyal once they choose their preferred brands or services.
As for ethnic millennials, they tend to be slightly older (over 25) and slightly further along in their careers than their Canadian-born counterparts.1 They generally have higher household income rates, and they’re more likely to have a family. This makes ethnic millennials an excellent population for household goods brands to target, as opposed to the general millennial segment.
Additionally, many male ethnic millennials are highly career-driven (40 percent) and a large number of them strive to advance their careers at any cost (29 percent).4 One study also showed that ethnic millennial males depend less on peer opinions when it comes to their buying decisions, compared to the average Canadian millennial. They believe in premium quality, but they’re also economical: they want to pay the least for the best. 4
One prominent commonality among Canadian millennials of various ethnic backgrounds is their desire to eat healthier and buy organic, hormone- and antibiotic-free products whenever possible. 26 percent of ethnic millennials would also like to see more ethnic products in grocery stores, creating a golden opportunity for food brands to introduce more ethnic flavours to the market targeted at the ethnic millennial segment. Overall, the key to targeting ethnic millennials is to identify products that lie at the intersection of culture and segment characteristics — products that are also able to fit with millennials’ quickly evolving tastes.1
Although ethnic millennials do share common traits with the general millennial population in Canada, and reaching them can be part of a general marketing strategy, it’s also important to adapt one’s strategy by using target-specific tactics, such as in-language ads, cultural event marketing, multicultural website advertising, and/or targeting by specific interests and topics.
Want to know more about targeting ethnic millennials? EthnoDialogue has extensive research, outreach, and targeting capabilities with this and other multicultural markets in Canada. We can help brands develop multicultural campaigns grounded in strategy and in-depth understanding of ethnic markets. If you’re interested in knowing more, reach out to Canada’s leading multicultural specialists at 416 445 6629 or [email].