There is a lot more talk about Millennials in the media. This is the age cohort born somewhere between the early 1980s and early 2000s (i.e. they are somewhere around the age of 17- 35).
It is a totally artificial definition so we don’t have to be too worried about the exact dates or indeed how many of them are – somewhere around 90 million in the US.
Here are a couple of items that gives some more detail. All rather superficial but you will get the idea.
The important thing is that this group of people will be inheriting a lot of money over the coming decades. Exactly how much depends on how long their parents live and how much they decide to spend. Somebody has come up with the figure of $30 Trillion. It is a big number.
One thing you can be certain of is that nobody really knows how much money it will be and over what period.
Like their parents, this group’s wealthy to moderate wealthy will be a relatively small number. I think we can be certain that most Millennials will inherit next to nothing.
All the more reason why marketers need to be ultra smart at identifying this small fragmented group.
Image via flickr