Meet the millennials and their behavior as entrepreneurs and consumers

Meet the millennials and Their behavior as entrepreneurs and Consumers

Surely you have met with people who you mentioned the growth potential that the market is having thanks to the millennials ; or how these people have dedicated themselves to become entrepreneurs , leaving aside office work and seeking to obtain their own income under its own rules.

It all sounds very promising, but who are the
millennials who are taking over the market? Maybe you or you are aware of its existence as such. So this time we want to become a bit more informative and communicate who the millennials and why are causing a revolution as entrepreneurs and as consumers .

Surely you read this word and you imagine people waiting for
the new millennium. Well, partly yes it is related to this phenomenon. They are known as
millennials people born between 1986 and 2000, so today should not exceed 30 years.

In terms of size of population in the
United States only the
millennials represent the largest sector, occupying a third of the total population of that country.

Report of the US Department of Labor

in Latin America’s something quite similar.
30% of the population of these countries are considered
millennials . But beyond the number of people who conform to this sector, its importance lies in being the first generation of digital natives.

Actually, they are the first generation to have internet access, observing the changes that occurred since its creation until today.
They have been a fundamental part of technological growth we see today.

behavior depends largely on the region they inhabit, but something that unites them , regardless of location is that they share a taste for the massive use of technological devices, as well as being people who have grown up with social networks and show that they an innate familiarity with digital media.

millennials are highly social factor that defines their behavior as entrepreneurs and as consumers .

Unlike other generations, the
Millennials live in the present, focus on professional development and seek to have a balance in your personal life. Perhaps this is one of the strengths that support why this generation is under a culture of entrepreneurship. Because we are in a digital environment where ideas flow steadily, the millennials have the momentum to develop projects on their own, considering entrepreneurs .

In the
report on the millennial generation delivered by the US government, we know that predicts a Millennial will change jobs about 15 times before reaching 38 years not only for economic reasons but for environmental improvements work and fulfilling professional and personal goals.

This is the point where the factor undertaking takes the lead and provides an opportunity for economic and professional growth that surely will
not let go.

As a generation that most of the time connected to the
Internet via a mobile device, not surprising to have a
behavior much more directly with brands. These people do not blindly trust what advertising has to say; They are responsible to find out if what they promise you is true and use media such as social networks to check the performance of a product and confirm the reputation of a brand.

For them, what they tell their friends or close people is high.
The recommendations of third parties have a strong influence on their purchasing decisions. That is why as a brand, should pay attention to what people are saying about you, both in person and on social networks, blogs, etc. For them, the average purchase is not as relevant; What matters it is the customer service they receive and the brand is interested in their opinions.

To previous generations
millennials are more comfortable going to a physical establishment and acquiring a product then they have tried. The millennials are aware of their time and should optimize it to the maximum, so the buying process changes slightly. They may not be attracted to invest time in going to a physical store when they need they can find online and at a click; still flock to physical outlets (because this is not going to lose so fast) to check the physical product, without buying, waiting for online promotions.

If the above it together with the need to get what they want from any mobile device, then we are dealing with brand preference responsive designs, with active social networks and constant communication with customers.

Therefore, the current and future generation of
consumers is a market with characteristics, needs and demands as a business owner you should know.

Forbes took care to share with us
6 Key features that millennials share as consumers. Below we provide you a brief overview.

This post was only a generation out
millennial and how they are acting in the market as business generators and consumers of goods. If you own an online or physical store, you probably already know a little more the behavior of this sector, so if you have anything to share on the subject, we hope you can do in the comments box .


Thank you for your comment Carlos.


interesting thanks for the info

Very good article, just noted that Millennials are those born from ’82 and ’86 not

Thank you
for your comment Edith, greetings.

Hello Carlos, thank you very much for the contribution, greetings

interesting and informative!

Hello Chio.

Thank you very much for your comment.


Some sources say that Millennials were born between 1983 and 1994, I am somewhat confused.

Related Posts

You may like these post too

What is Arduino and why has it become a hobby ‘for all audiences’

Christmas gift ideas (IX): Eco-kits that work with solar energy

Leave a Reply

it's easy to post a comment