Do you know what Coca-Cola and Pepsi have something in common right now?
Both are shunned by millennials.
Which is a bit of a downer, considering that the most memorable commercials we’ve seen on TV—the few ones that we cared to watch—came during the height of the cola wars.
Younger people are more health and lifestyle-conscious, opting for tea, coffee and high quality juices than soda. Their lifestyle closely follow the trend of the day.
Studies show that millennials are facing harder times than the older generations, being that the price of everything is more expensive. This is having an effect in their desire to purchase real estate, as many of them, despite having a good job and good prospects still live with their parents.
Affordability is a big concern. Growing up in a time where prices are rising faster than pay, their priorities (and expectations) are sharply different from the previous generation.
Here are the facts: millennials are starting to dominate the workforce. In a few years, most of them will be at their peak home-buying age. With this cohort’s size—larger than any of the previous generations—this could lead to an unparalleled surge in home sales.
To reach millennials and capture their attention, we have to be smarter at marketing. Take note that no other generation has been as bombarded by so much media messages in as many fronts as the millennials. They are spoiled for choice.
The key is to know how to market to them, know where to engage them, know what speaks to this next generation of home buyers.
(Feel free to post this infographic on your page)