However millennials are defined with regard to age, they now represent the largest population group in the United States — which makes millennials a very attractive target for business.
“Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates recently released by the U.S. Census Bureau. Millennials, whom we define as those ages 18-34 in 2015, now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69). And Generation X (ages 35-50 in 2015) is projected to pass the Boomers in population by 2028.”
“Millennials have grown up in an electronics-filled and increasingly online and socially-networked world. They are the generation that has received the most marketing attention. As the most ethnically diverse generation, Millennials tend to be tolerant of difference. Having been raised under the mantra ‘follow your dreams’ and being told they were special, they tend to be confident. While largely a positive trait, the Millennial generation’s confidence has been argued to spill over into the realms of entitlement and narcissism. They are often seen as slightly more optimistic about the future of America than other generations — despite the fact that they are the first generation since the Silent Generation that is expected to be less economically successful than their parents.”
Here’s an interesting video that tracks generations in about three minutes.