A key finding of our first Millennial study was the mantra, “Useful is the new cool.” In our follow up study, “Millennials as New Parents: The Rise of a New American Pragmatism,” this mantra still applies, but with Millennial parents there’s a new tune. Now, it’s “useful is the new essential.” Considering that Millennials make-up 21 percent of Consumer Discretionary Purchasing Power in the US, companies should quickly take note.
In order to stay ahead of the competition, brands must embrace technology in a way that provides a useful interaction with their product and/or service. We know that Millennials are 2.5 times more likely to embrace new digital, social and mobile channels than their predecessors and that they possess the desire to have technology integrated into their customer experience. For these reasons, it is not enough for a brand to just use technology. A brand must innovate in ways that make their customer’s experience seamless while incorporating technology. Read More