The Growing Influence of Millennials in Decision-Making Positions

The Growing Influence of Millennials in Decision-Making Positions

Millennials are those born between the years 1977 and 2000, and represent more than one quarter of the U.S., and are the largest growing generation in today’s workforce.

Millennials are quickly becoming the new decision makers. With many Baby Boomers aging out of the workforce and retiring, millennials are assuming more and more positions where they influence purchasing decisions in the workplace, and their consumer shopping behaviors are spilling over onto the business side of their lives.

According to research done by IBM, Millennials are far more interested in a hassle free client experience which is customized to their needs more so than their Gen X and Baby Boomer counterparts. Known to be driven in their consumer behaviors as tech savvy and seeking instant gratification, they are drawn to vendors with data, speed, and eager advisors available at their beck and call. Millennials are the most brand loyal generation; however this loyalty is driven by authenticity of the brand rather than a blind following for a brand name. Millennials value brands that enhance their lives and serve a purpose, and nearly 50% of millennials would be more willing to make a purchase from a company if their purchase supports a cause or charity.

Why do we care? Millennials are the future business leaders and decision makers. Because they are so brand loyal, suppliers will benefit from getting into their inner circle early on. Understanding millennials in their professional lives and personal lives is an investment in your not-so-distant future customers.

For further information, read our white paper on Millennials here.

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