NEW YORK, Aug. 6, 2015 /PRNewswire/ -- Meredith Corporation (NYSE: MDP) (www.meredith.com), the nation's leading media and marketing company serving 100 million unduplicated women and 63 percent of U.S. Millennial women, released results from its exclusive Women 2020 research study targeting the next generation of female consumers – Millennials.
2020 is a pivotal year for Millennials – they will number 80.4 million strongi, their spending will total 2.5 Trillion dollarsii, and they will account for two-thirds of all first-time homebuyersiii. Recognizing the seismic influence Millennials – the largest generation ever – will have on all industries, Meredith recently fielded the Women 2020 proprietary study designed to help marketers understand the buying behavior and decision-making processes of women by category (beauty, food, home) through the lens of life stages and the influence of technology.
"Meredith's cornerstone content is home, health, family, food and lifestyle, serving more than 100 Million American women who are inspired by our brands," said Britta Cleveland, Senior Vice President, Meredith Research Solutions. "We're there for the milestones and moments in between – they are searching our recipes, pinning our wedding and design ideas, and sharing our parenting tips. This research initiative helps Meredith deliver targeted, data-driven content to key audiences for our advertising partners and brands."
The Millennial Mindset: Carefree and All About Me Millennial women believe in the power of positivity. They are optimistic and looking forward to the future.
- 75% of Millennial women believe they will be happier in 2020, while 73% believe they will be more fortunate and 71% believe they will have more opportunities than the previous five years.
- One quarter (27%) think weight acceptance is the most pressing issue facing women today; similarly, 25% believe it's wage equality, 19% believe it's domestic violence, and 10% believe it's quality healthcare.
Millennial + Values
- When asked which celebrity best represents the values of the Millennial generation women responded: Jennifer Lawrence (33%), Taylor Swift (31%), Beyonce (20%), Kim Kardashian (8%), and Lena Dunham (8%).
- As for role models they named: Ellen Degeneres (16%), Michelle Obama (14%), Angelina Jolie (13%), JK Rowling (10%), and Hillary Clinton (8%).
Millennials + Media = The SoMo Generation
- They share their "true self" through photos and videos but they don't trust that others are being as authentic as they are on social media; 31% of Millennial women admit to lying on social media while 65% believe their friends and family have lied on social media.
- Maintaining mobility is key: 81% access the internet at least once a week with their laptop, 80% use a smart phone, and 48% use a tablet.
- Social media is a mainstay: 90% access Facebook at least once a week, while 77% access YouTube, 57% access Instagram, 56% use Pinterest, 47% use Twitter, and 28% use Snapchat.
Millennials + Beauty = Glamour Gals
- 73% of Millennials say looking beautiful/sexy is important to them verse 57% of Boomers.
- Price is a purchase driver: 60% of Millennials buy based on price while only 38% of Boomers consider it.
- They trust influencer recommendations and share their own reviews: 75% of Millennials try products based on a recommendations and 55% frequently recommend products to others.
Millennials + Food = Superfoodies
- Experimenting and cooking relax them: 79% of Millennials like to experiment while 77% consider it a creative outlet, and 62% consider themselves "foodies."
- Boomers are more concerned with eating healthy (76%) verse 63% of Millennials while the younger generation is more likely to look for natural/organic ingredients (55%).
Millennials + Home = Nesters
- Home is where the party is: 76% want home to be the place where family and friends like to gather.
- They are game for change: 75% like to decorate and do home improvement projects; 69% like to experiment with things to update the look of their home, and 52% change their decor seasonally.
The Millennial data report is the first of the Women 2020 series and will be followed by a report focusing on Hispanic women in early fall. Meredith research and marketing executives are available for interviews.
On behalf of Meredith Corporation, Insights in Marketing conducted a nationwide online survey of 2,629 women ages 18 to 67 from October 13-24, 2014. The estimated margin of error for the survey is +/- 1.9 percentage points.
ABOUT MEREDITH CORPORATION:
Meredith Corporation (NYSE: MDP) (www.meredith.com) has been committed to service journalism for more than 110 years. Today, Meredith uses multiple distribution platforms – including broadcast television, print, digital, mobile, tablets and video – to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.
Meredith's National Media Group reaches a multi-channel audience of 220 million consumers monthly, including more than 100 million unduplicated American women and over 60 percent of U.S. Millennial women. Meredith is the leader in creating content across media platforms in key consumer interest areas such as food, home, parenthood and health through well-known brands such as Better Homes and Gardens, Parents, Shape and Allrecipes. The National Media Group features robust brand licensing activities, including more than 3,000 SKUs of branded products at 4,000 Walmart stores across the U.S. Meredith Xcelerated Marketing is a leader at developing and delivering custom content and customer relationship marketing programs for many of the world's top brands, including Kraft, Lowe's and Chrysler.
Meredith's Local Media Group includes 17 owned or operated television stations reaching 11 percent of U.S. households. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 - including Atlanta, Phoenix, St. Louis and Portland - and 13 in Top 50 markets. Meredith's stations produce approximately 650 hours of local news and entertainment content each week, and operate leading local digital destinations.
i U.S. Census Bureau, interim population projections released 2012 and annual population estimates/Mintel ii New Strategist Press iii Realtor.com
SOURCE Meredith Corporation