Tech-native, entitled, collaborative, distracted, and loyal are just some of the words that come to mind when describing Millennials -- arguably the most studied generation to date. Usually defined as people born between 1980 and 1998, more than 79 million Millennials are estimated to live in the U.S. today. And no surprise, about half are women.
It's already well-established that women make up about 85 percent of household purchase decisions. Time Magazine recently reported that women make up about 58 percent of all online retail purchases, 80 percent of health care decisions, and are taking over male-dominated categories like consumer electronics and automotive. It's even spreading over to sports -- a whopping 45 percent of all NFL fans today are female.
But what really differentiates Millennial women from their generational counterparts?
Stereotypes run the gamut, but here are a few truths you can rely upon when trying to understand this generation:
- They are digital natives and don't consider new technology something to adopt. It just is.
- They are ethnically and religiously diverse -- more so than any generation to come before them.
- They believe in transparency and candor.
Here are five lessons marketers can learn from today's young women.