As the climate crisis escalates, 87% of millennials (that’s people born between 1981 and 1996, FYI) think that brands, like yours, “need to address urgent social and environmental issues”. And fast. Conscious on every level, this diverse, dynamic group of consumers are more switched onto sustainability issues than previous generations, with many believing that they have the power to change the world through the way they buy Here’s why they’re ready to listen to you.
They’re socially conscious
Be it bamboo toothbrushes, reusable coffee cups or recycled clothing, 75% of millennials are altering their buying habits with the environment in mind (Nielsen). And they’re willing to pay extra to afford sustainable items that have little to no impact on the planet. That means more businesses are now under pressure to rethink how socially and environmentally responsible their products and services really are. Because if they don’t act now, they’re sure to lose out later, with 54% of millennials saying they would forgo brands for more eco-friendly alternatives.
Their spending power is increasing
In 2017, millennials became the largest generational demographic in the workforce (Resolution Foundation), with an increasing number starting to take up senior roles. As a result, their spending power is on the rise, leading to changing trends in consumer behaviour. Like the growing demand for sustainability. As time goes on, millennials are set to have a greater influence on brands, with those who match their expectations gaining greater market share.
They talk about sustainability on social media
Today, 90.4% of millennials are active social media users (Emarketer). And their content is more than just smashed avocado on toast. From the global climate strikes to the single-use plastic problem, millennials are using social media to publicly share their thoughts on sustainability issues. Opinions, photos, videos and even memes are being shared far and wide, with the most popular or poignant sometimes making headline news in a matter of hours.
They follow brands on Instagram
Millennials aren’t afraid to voice their opinions on brands either. According to a recent study, 40% of millennials follow brands and companies on Instagram. Businesses with less sustainable practices or who are guilty of green-washing are subject to scrutiny, meaning millennials are far less likely to trust or purchase from them.
They expect brands to be responsible
According to research carried out by the Millennial Lab by Saatchi & Saatchi, millennials believe that “companies and politicians have an equal responsibility for creating a sustainable world”. And they’re expecting brands to take the lead. Because it’s only when businesses have evolved to become more environmentally conscious, that millennials expect politicians to “push these developments with legislation”.