They are the earners, spenders and the trendsetters, and also a jaw-dropping 440 million in numbers. Welcome to the world of millennials, the Gen ‘Y’ club born between the early 80’s and the mid 90’s. Sandwiched between the prudent Gen X and the fearless Gen Z, millennials have evolved into a perfect blend of both, living a life that is both aspirational and inspirational.
Fuelling the reality that is young India, this generation (24-38 yrs) today makes up nearly half of the country’s workforce. What makes them stand out from the rest is their up and mobile attitude, particularly with regards to their financials. Not as long-term planners as those before them, most of them prefer focussing on the journey rather than the destination. So how is Gen Y living out their lives and what are they doing to secure their fight? Piplsay finds out
At 34 percent of the total population and 46 percent of the total workforce, millennials today are a force to reckon with
Their numbers not only makes them the largest demographic group in the country but also a massive market segment. They have high levels of disposable income, adapt easily and love to experiment. But despite the common unifiers, they are all diverse in terms of their habits, values and choices, making them a dream catch for both marketers and brands alike.
Millennials today want to enjoy the finer things in life, and unlike the previous generation, long-term goals are perhaps the last thing on their mind.
*Based on the responses of 5000 participants in the age group of 24-38 years