As with other age-based groups, such as baby boomers, the diversity of millennials is often underappreciated. For example, U.S. baby boomers are all those born between 1946 and 1964. This group is certainly NOT homogeneous. The oldest baby boomers turn 71 this year, with most of them living in retirement as empty nesters. The youngest baby boomers turn 53 this year, with most of them active in the workforce and with many of them having 18-to-25 year olds living at home.
Likewise, today’s generation of millennials (those born between 1981 and 2000) is not homogeneous — an important concept for marketing strategies. Millennials are not one-size-fits-all! One way of better classifying millennials is to study their backgrounds.
“The millennial generation in the U.S. is now 75 million strong. Like any generation, millennials are not homogeneous, as the group includes consumers from a wide range of ages and ethnic backgrounds. Notably, 42% of U.S. millennials are people of African-American, Asian-American, and Hispanic heritage.”
“Multicultural millennials are carving their own paths forward in several ways: They are bridging gaps between their own generation and others, and they are bridging gaps between their birth cultures and others. This group’s comfort in different scenarios and cultures creates a virtual ‘multiplier effect,’ a key distinction from non-Hispanic white millennials.”
Here is an informative infographic from PUSH C&M for marketers to consider.