of luxury. Millennials have completely changed the meaning of luxury and are looking for something completely different, which has put traditional australian mobile number online companies in that market in a difficult situation from which they do not know exactly how to get out. Traditionally, luxury is associated with the aspirational, products of certain brands that consumers wanted to have because this marked certain realities. Now, millennials do not link luxury to a brand, but to an experience.
But do we have to forget about all this? From all this, it could be concluded that millennials were not interested (that much) in brands and that they had to play with other tricks to connect with them. But is the situation really like this? Are millennials as anti-brand as thought and as analysts pointed out?
The reality could be a bit more complex and, perhaps, brands should forget about seeing millennials as a whole. Because, perhaps, the relationship of millennials with brands and their low relevance is much more marked by the pocket of the millennial in question than by the reality of their consumer habits. As this consumer’s purchasing power grows, so do their brand interests.
According to the results of a recent study by BBC Worldwide, millennials with high incomes feel strongly attached to brands, or at least feel much Australia Phone Number Database more attached to them than do those with lower incomes. The data comes from a global survey, which makes the study can be seen as a way to understand millennials in a much more general way.
Thus, 70% of millennials with high purchasing power indicate that their favorite brands play an integral role in their lives, compared to 51% of the average in that market. Something similar occurs when millennials are asked if they are brand-conscious consumers, that is, if they are brand consumers. In general, the response is not very high since only 48% of millennials claim to be a person who cares about brands. When you analyze what only those with high purchasing power say, it is discovered that the percentage rises to 67%.