What Influences and Drives Millennial Purchase Behaviors?

YuMe, Inc.DMI, an audience technology company powered by data-driven insights and multi-screen expertise, is out with a new eBook, Millennials Evolved.

YuMe surveyed more than 5,000 consumers to understand how cultural, environmental and life events influence purchase behavior, media viewing habits, device preferences and the impact on consumer marketing.

And what did the study find?

While there are common characteristics that define the entire generation, there is more depth and nuance to the audience that advertisers should be aware of in order to influence this segment and drive higher engagement.

Millennials, we’re told, are more likely to watch TV shows than older generations but are less likely to watch cable television, according to the study. They are turning to streaming and downloading for video and are much more likely to watch video content of any sort: movies, music, and web videos.

Because of these technology attachments, it may be assumed that Millennials have completely delineated their habits from other generations. However, the research demonstrates that they are only incrementally different from other generations.

So what did we learn from the findings?

“Marketers must go beyond the stereotypical definition of the Millennial consumer, taking into account all of the nuances that make this generation unique, in order to deliver impactful campaigns,” said Stephanie Gaines, Vice President of Corporate Marketing at YuMe. “This study reinforces the vital importance of highly focused audience building and segmentation, leveraging key behavioral and psychographic insights that drive engagement and can be the difference between a highly successful or lackluster campaign.