On June 27th, Ypulse is dedicating our annual Mashup* to reassessing Millennials. We have been studying the generation for years, and know that misconceptions about Millennials are common, and many don’t understand how the generation has evolved as they ‘age up.’ At the Mashup, we’ll be unveiling our first-ever psychographic segmentation of the generation, and digging deeper into their rapidly changing world with the help of key Millennial thought leaders.
Today, we’re asking one of those thought-leaders, Sandra Lopez, Intel Marketing Strategy Director for New Business, to share some of her thoughts on Millennials, what’s shaped them, and what needs to be reassessed about the generation.
*Register before June 1st to get the early-bird price!
Ypulse: What would you say is the biggest misconception when it comes to the Millennial generation?
Sandra Lopez: There is a perception that the Millennial generation does not have significant purchasing power given their unemployment rate is around 16%. Yet, they have $200B direct purchasing power and $500B in indirect purchasing power. They are influencing the generations before them and the generation that follows. We need to start to think about their influencing power as currency.
YP: This year at the Mashup we’re reassessing Millennials. What would you say is the thing about the generation that needs to be reassessed the most?
SL: The Millennial generation is disrupting industries, and there is an opportunity to re-assess the business impact that they are having. Many industries are starting to realize that their business model is being challenged by this generation. The automobile industry is a great example of how Millennials are affecting their bottom line with car sharing services as well as an attitude in which they do not…