The ‘Rise of the Millennials’ infographic provides a quick breakdown on people born between 1981 and 2000, showing what kind of influence they will have on businesses, as both employees and consumers. Stats show that Millennials are roughly equal in terms of men and women, but it’s one of the most culturally diverse and powerful generations yet. By 2020, Millennials, will have over $1.4 trillion in spending power. Millennials are set to become “the next Boomers” and surpass the spending powers of Baby Boomers even sooner, by 2018.
One of the points on this graphic notes that “Millennials love to spend money” on travel, apparel and dining out. Brand loyalty and the influence on social media on purchases is also incredibly high and should definitely be noted by marketers.
The Rise of the Millennials infographic comes from Badgeville, a platform that helps businesses improve customer loyalty and employee behavior through gamification.