Women 2020

Meredith Corporation 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 dollars, 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.