The Millennials: Best generation ever? [infographic]

Click here to see a terrific graphic illustration defining Millennials...

The Millennials: Best generation ever? [infographic]

Millennials Plan Low-Key Family Holidays

This just in…

Albing International Marketing polled 100 Millennials about their spending plans for the holidays 2011:

· Only 2% will spend substantially more than last year

· 67% will spend about the same

· 30% will spend a lot less than last year

· 5% have decided NOT to give gifts this year

· 43% will be giving fewer, smaller gifts

· 5% are considering charitable donations instead of traditional gifts

· 8% plan to give “experience” gifts (theater/sports tickets/dining/travel)

· 38% say gift giving will be about the same as last year

· No one in AIM’s survey will be giving “more expensive gifts and more of them”

· 46% are planning only family gatherings

· 17% will give one or two small parties

· 13% will hold one or more large events

· 12% have no plans for entertaining, but will probably have some impromptu gatherings

· 12% will be doing no entertaining whatsoever!

More analysis to follow soon…

Boomer Parents Funding Millennial Homeownership

(December 2, 2011, From Cam Marston of Generational Insights)

At least 20% of Baby Boomers are helping their Millennial children or grandchildren realize the dream of homeownership, according to a Better Homes and Gardens survey. One in five Boomers surveyed had gifted, loaned, or co-signed in support of a Millennial’s purchase of a home. More than two-thirds expressed a desire to provide such support in the future to their children or grandchildren, many intending to do so on multiple occasions.

This growing trend highlights a generational imbalance in wealth – Matures and Boomers have accumulated a lot of it whereas Millennials are finding it more difficult to get hold of than previous generations. The Boomers surveyed said they were motivated by their feelings for their children and grandchildren, but a more important factor for them is their belief in homeownership as the principal building block of personal wealth for their offspring.

It also points to the generational affinity between Millennials and their Boomer parents, a basic principle of generational marketing and selling. When it comes to “life” purchases such as homes, cars, and investments, you will often need to be able sell to Millennial buyers AND to their Boomer parents.

Tech Trash and Tools for Millennials on Cyber Monday

Tech, trash and tools on the holiday list for Millennials this Cyber Monday according to instant survey by Albing International Marketing. AIM surveyed 300 Millennials and found that the top categories for online purchases today include tech items such as sound systems for iPods/iPhones, new iTech from Apple (such as iPad2 and iPhone 4S). While video games such as “Call of Duty Modern Warfare 3” are popular among young men, “Just Dance 3” is a hit with Millennial women.

Most of the items mentioned were not especially great “deals,” but rather items they were planning to buy. “If I save a little all the better, but I was going to buy it anyway.” And a lot of the items are self-purchase or “self gifts,” not gifts for others. “My girlfriend told me to buy it for myself because she would never get just the right item. There’s nothing worse than getting something close to what you want, but just a touch off the mark…”

Items described as “trashy” are also popular such as DVDs of popular reality shows like “The Jersey Shore,” “Bridezillas” or “Real Housewives” (of anywhere). Even the movie “Bridesmaids” or episodes of the “Twilight Saga” were described as “giftable trashiness” by some Millennials.

Tools or gadgets are also hot items for Millennials. Keurig single-serve coffee machines and Soda Steam beverage carbonators are popular as well as Dyson’s Pet Cleanup Accessory Kit and the Oster Electric Wine Opener/Wine Chiller.

Any other hot items for Cyber Monday, Millennials??

Let's Give Thanks for "Anonymous Extraordinaries" - Millennials Like Natalie Warne

What a terrific TED Talk by Natalie Warne! Millennials like her are the future of our world. She fights for the Invisible Children forced into war as child soldiers and reminds us all that it is about the positive effects we have in life, not the recognition.

On this Thanksgiving weekend, we at AIM extend our thanks to all the "Anonymous Extraordinaries" out there who are teaching, healing and making our world a better place.

An Entrepreneurial Generation of 18- to 34-Year-Olds Wants to Start Companies When Economy Rebounds, According to Poll From The Kauffman Foundation

Millennials see entrepreneurship as path to success, but are delaying because of the economy

(KANSAS CITY, Mo.) Nov. 10, 2011 — In a beleaguered economy, the country needs entrepreneurs – the nation's job creators. Fortunately, a recent poll shows that the so-called millennial generation – those ages 18-34 – are an entrepreneurial bunch. A few key barriers are holding them back, especially the economy.

The nationwide cell phone and landline survey, conducted by the Young Invincibles in conjunction with Lake Research Partners and Bellwether Research and funded by the Ewing Marion Kauffman Foundation, polled 872 millennials on their thoughts about the economy and entrepreneurship. With the world getting ready for Global Entrepreneurship Week, Nov. 14-20, hearing what young people think about starting businesses is especially timely.

"This poll reveals a generation that is enthusiastic about entrepreneurship, and that is good news for the U.S.," said Carl Schramm, president and CEO of the Kauffman Foundation, "Fifty-four percent of the nation's millennials either want to start a business or already have started one. They recognize that entrepreneurship is the key to reviving the economy."
An even higher percentage of young people of color – 64 percent of Latinos and 63 percent of African-Americans – expressed a desire to start their own companies. Women, on the other hand, are less likely to want to start their own businesses than men are (44 percent of women vs. 57 percent of men).

Despite millennials' strong entrepreneurial drive, just 8 percent of them own businesses now, and only 11 percent intend to start businesses within the next year. Thirty-eight percent of the potential young entrepreneurs say they have delayed starting a business because of the economy.

"An astounding number of young people want to start a business one day," said Aaron Smith, co-founder and Executive Director of Young Invincibles. "And they overwhelmingly support action on the part of their leaders to remove barriers to these dreams."

The poll points out specific barriers to entrepreneurship, including the inability to access capital needed to get a business going, lack of knowledge needed to run a small business, concerns with overcoming current debt burdens, and few mentors from whom they can learn. In fact, 65 percent of young people think that making it easier to start a business should be a priority for Congress, with 41 percent saying it should be a top priority. Eighty-three percent of millennials believe that Congress should, at a minimum, increase the availability of startup loans.

Even more respondents – 92 percent – support increased access to the education and training needed to run a small business as a way to encourage people to become entrepreneurs, and 81 percent of the young people surveyed support student loan relief for millennials who start companies.

How and Why Millennials Buy

The latest issue of HomeWorld Business shares coverage of AIM's recent presentation at the New York International Gift Fair. Click below to read about AIM's presentation Defining the New Gourmet Consumer: How and Why Millennials Buy.

Special Report: Who's Your Customer?


Peter Gianetti's Viewpoint

Meet AIM's Millennial Associate

AIM is pleased to announce the addition of Whitney Ryan to our great group of people. Whitney not only conducts research about Millennials, but she is a Millennial herself.

Her favorite things: traveling, yoga, cooking, psychology, scented candles, Harry Potter, her new puppy!
Quote that inspires her: “Imagination is everything. It is the preview of life’s coming attractions.” – Albert Einstein

In addition to your comments below, Whitney would love to hear from other Millennials directly.
You can contact her at wryan@albing.com.

Millennial Malaise? Is Financial "Bootcamp" the Answer?

The current economy is beginning to take a toll on Millennial optimism according to AIM research. Increasingly, we are hearing young people state that they cannot foresee success at their parents' level in their own futures.


A recent survey conducted by American Express found:

• More than half of recent grads have $15,000+ in student loan debt
• About one in three grads live with their parents
• 68% are either not working, or not working in a job in their field

A large portion of the difficulties that Millenials face can be distilled to two issues: jobs and money, or the lack thereof. By providing twenty-somethings with the tools they need to earn and manage an income, LearnVest and AmEx hope to make the post-college world a little less bleak. The two teamed up to offer a pair of "bootcamps,” which deliver a daily email with a short lesson and tools to reinforce that lesson. These boot camps, free of charge, last 10 days each and cover two key weak spots for twenty-somethings: the workplace and the wallet.

Millennial Leaders - What We Can Learn From Football

I love football and have been a Packers fan my entire life, but I grew up in Buffalo so I’ve always had a soft spot for the Bills. It's easy to be a Packers fan these days, but it's not quite as easy for Bills fans. Yesterday it was great to see the Bills win for the second week in a row in a very exciting game against Oakland. As I read the analyses of the game today in the sports press, I couldn’t help thinking that this year’s Buffalo Bills provide guidance for a way out of our economic doldrums in America. We are going to need quick-thinking, creative Millennial leaders like Buffalo’s Harvard educated quarterback, Ryan Fitzpatrick. And the older generations are going to have to believe in them and mentor them...

For those of you who are not football fans (or even those who do follow the sport), I suggest you read

“Why This Year's Buffalo Bills Will Win the Super Bowl and Why '90s Bills Didn't” by Buffalo sports columnist, John Wingspread Howell. After only two games, I am not predicting that the Bills will win the Super Bowl, but they have at least shown that they have the grit and determination to win games. (I also have to mention that Buffalo has the most loyal fans in football that have supported their Bills through the leanest years and in the worst weather imaginable.) The gist of Howell’s article is that this year’s Bills do NOT have the star power of the 90’s when they made it the Super Bowl an amazing four years in a row, but were never able to put together a win. Instead they are “a motley gaggle of no-names coached by a no-name retread, and quarterbacked by a Harvard geek who is a consensus backup at best—until he’s not.” As CBS commentator, Marv Albert said, “Football is the only profession where being a Harvard grad is a liability.” But, according to Howell, “Ryan Fitzpatrick is smart enough and talented enough to turn the liability into an asset. What he can’t do with Manningesque finesse, he does with brains, grit, passion and faith. Faith in himself, his coaches, his team.” Fitzpatrick’s Boomer bosses, coach Chan Gailey and general manager Buddy Nix, are “starting look like geniuses” because they believed in Fitzpatrick and stuck with him.

This is what American business needs now and in the future: well-educated leaders who believe in themselves, who believe in the leaders above them and believe in their team of workers. And then we need to put it all together in a creative way to come up with new ideas and NEW solutions. When I see that it’s possible in football for experienced older managers and young creative leaders to work together and succeed, it gives me hope for America’s future. -Robin Albing

Top 10 Products for Millennials from the New York International Gift Fair

1. Buddha Bowl by Flavour Design
Thelermont Hupton Lap/Knee Mugs

OK, they are actually three products, but we like them for the same reasons... They're great for Millennials just starting out in a small apartment or home. Low on space = maximizing the space that you have! The Buddha Bowl allows you to eat soup, cereal, even noodles, in less conventional spaces. The Lap and Knee Mugs make it easy to sip coffee or tea while sitting on the couch. We know that Millennials don't often eat meals at the kitchen table, and these products make it easy to eat or drink on the couch or in the living room.

2. Corkcicle

Millennials love to entertain friends and family (72% say they entertain at least once a month) and the Corkcicle is a neat new product that can enhance that experience. The Corkcicle is designed to keep wine at the perfect temperature. It looks just like an icicle that fits inside an opened bottle of wine to keep chilled white wine cold, and keep tepid red wine from getting too warm. It is reusable, won't water down your wine, and is dishwasher-safe.

3. Recycled Dog Leash by Harry Barker

We were amazed to learn that these bright, beautiful dog collars and leashes are made from 100% recycled plastic bottles. They look and feel just like wove fabric. Because they are made from recycled bottles, they will hold up to just about anything and will last forever. They come in tons of great colors and patterns, and can even be monogrammed. 44% of Millennials are dog owners, and this product line allows them to provide for their pooches while respecting the environment.

4. Moshi Moshi handset by Native Union

These handsets are so fun! The bright colors originally caught our eye, but the concept made us stick around to learn more about these throwback products. These telephone handsets have high quality speakers and microphones to improve call quality, and are compatible with all mobile phones, iPads, and computers. the design factor is awesome with these phones, ranging from nostalgia old-fashioned models to sleep, shiny, and modern. Millennials love classic, traditional style, and coupled with concern about cell phone radiation, these Moshi Moshi handsets would make a great gift for a Millennial.

5. Aria Autoseal Travel Mug by Contigo

Once you use this product, you will love it! It has vacuum insulation that keeps beverages hot for 5 hours or cold for 14 hours. Its Autoseal technology makes the mug 100% leak- and spill- proof, and trust us, we have tested this claim! With Millennials' jam-packed schedules, travel mugs are a popular item to begin with. But throw in the added features of one-touch opening and spill-proof storage, and you've got a perfect gift for a Millennial. Bonus-it fits perfectly under a Keurig one-cup coffee brewer, talk about convenience!

6. Plant Pots by Bacsac

Bacsac's plant pots are perfect urban solution for Millennials living in the city without a garden plot. Called "pots," they are actually geotextile fabric bags. They are lightweight, portable, and 100% recyclable. The bags are very strong and come in a variety of shapes and sizes, depending on what type of garden you are looking for and what space you have available. The bags help protect the plants' roots, and let the soil breathe while allowing water to pass through. If you have a few square feet of balcony space, or even an open area near a window, you can grow your own fruits, vegetables, and/or herbs with the help of these plant pots!

7. 24/7 Bags by Flip & Tumble

These handy little bags recently made it into the MOMA design store, and with good reason! There were a variety of reusable bags at NYIGF, but these stood out from the pack. They are made of a light, ripstop nylon, and have a felt patch on the shoulder strap to keep the bag from slipping. They are so convenient because they easily fold up and store inside a stretchy inside pocket, squishing down to about the size of a peach. Any product that cuts down on waste and saves space is sure to catch a Millennial's eye. The 24/7 Bags come in a variety of prints and colors, so we can see Millennials using them for just about anything!

8. Coiled Bamboo and Coconut Bowls by bambu

In addition to looking great, these hand-produced bowls are made from natural and renewable resources. They are made from natural bamboo and coconut shells, and use water based, formaldehyde-free adhesives and natural lacquers. The bowls are crafted by production teams in Shanghai, and bambu has been granted the Green American Seal of Approval for their fair trade practices. The bowls are light, durable, and come in a bunch of fun, bright colors...a great green addition to any Millennial's kitchen.

9. Tocky by Nanda Home

This is the perfect product for any Millennial who has a hard time getting up in the morning. It's a cute little clock that can play an alarm sound, MP3's, and even personal messages to wake you up. But the kicker - Tocky jumps from your nightstand and rolls around the room, forcing you to get out of bed and wake up! Hitting the snooze button on traditional alarm clocks can be tempting, but ultimately wastes time and you often wake up more tired than you originally were. With Tocky, you're forced to get up out of bed and start your day...and with a crammed day as Millennials often have, this product is sure to get you off to the right start.

10. Swedish Dish Cloths by cose nuove

Don't let their small size fool you, these natural dishcloths are super absorbent! They absorb up to 15 times their own weight, making the chore of drying dishes quick and easy. In Millennials' small kitchens, these little dish cloths are a great space saver that still gets the job done. They are made from natural cotton and cellulose and are printed with water-based inks, making them fully compostable. They are very durable, able to stand up to repeated machine washing. These dishcloths feature Scandinavian designs in lots of different fun patterns and colors, making them easy to coordinate with any Millennial's kitchen.

Honorable Mentions

These products didn't make AIM's top ten, but they were close contenders!

Jax & Bones dog toys

Olivina body products

Piece Love and Chocolate

Rowallan Stephanie iPad Folio

Ms. & Mrs. Minimergency Kit

ALBING TO SPEAK ABOUT MILLENNIALS AT NY GIFT FAIR

Seminar: Defining the New Gourmet Consumer –

How & Why They Buy

3:00PM – 4:30PM, Javits Center 1A02-03
What makes your customers tick? Join Robin Albing of Albing International Marketing for an in-depth explanation into “Millennial” consumers and their buying behaviors. Subjects will include where they shop, what they buy, how they shop and what their kitchens look like.

Robin will be joined in the presentation by AIM's Millennial Associate, Whitney Ryan. The session will be moderated by Bill McLoughlin, editor of Gourmet Insider and executive editor of HomeWorld Business.

MANY BOOMER MOMS SUPPORT MILLENNIAL KIDS ACCORDING TO POLL

More than half of Baby Boomer mothers in the United States support adult children financially and 60 percent are the person their offspring go to when they encounter problems according to a poll conducted by The Kitchens Group, a public opinion research firm in Florida. At Albing International Marketing, we call this trend “Retro-Nesting.” And it contrasts with the 86 percent of those 46- to 65-year-old women surveyed who said they were fully independent by age 25. "We wanted to get the hell out as soon as possible," said Liz Kitchens, a partner in The Kitchens Group. Another Boomer quoted in Today’s coverage of the survey stated, "I left home at 17 and never looked back," she said. "I felt like once I left my parents' house, I would have been a failure to go back."

On the other hand, "I wasn't completely unhappy when both of my kids bounced back for periods of time," Kitchens said. "I think we've created good dinner companions."

As a Baby Boomer parent of three Millennials, I understand this generational behavior difference and conflicting attitude. Our generation was the offspring of the Greatest Generation and, while we loved our parents, they were distant and most definitely NOT our friends or the people with whom we had fun. They worked very hard to provide us with a better life, but their lives were separate from ours. We had our own activities, our own music and our own places to congregate. Conversely, Boomer parents have attended every one of their kids’ sporting events and musical performances. They have attended rock concerts together and even hung out at the same coffee bars and restaurants.

I like my kids and (I think) they like me. I enjoy spending time with them and I was not unhappy when my son moved back with us for a year after college while he settled into a new job and saved money. My husband enjoyed commuting with him and his 16-year-old brother loved having a partner for backyard lacrosse games and basement ping-pong. (AND an advocate during some disagreements with his parents.) My son was (relatively) neat and he pitched in with household chores. All in all it was a good time and both parents and son were a little sad when he moved into Manhattan to live with his friends, but we all understand it was a rite of passage.

Last week our daughter graduated from college. She is interviewing for jobs and we hope that she lands something soon. On the other hand, there’s this little part of me that also hopes we have at least some time to re-connect before she heads off on her own. Her stuff is all over my house and beginning to get on my nerves, but I know that these are also very special times.

Our story is quite upbeat, but not every story ends so happily. This morning's article in The Huffington Post paints a very different picture for recent college graduates and calls them a "lost generation."

What do you (both Boomer parents and Millennial offspring) think about the Retro-Nesting trend?

-Robin Albing, President/Albing International Marketing LLC

Cooking Shows Reach Millennials!

Albing International Marketing recently conducted a survey of consumers across the US to determine Communication and Media preferences among three adult age cohorts: Millennials (20-29 years old), GenXers (30-45 years old) and Baby Boomers (46 to 65 years old).

When asked which TWO types of TV shows were of highest interest to them, the leading choice for all age cohorts was “Situation Comedies (such as Modern Family, How I Met Your Mother, Friends).” 45% of Millennials selected this category, 39% of GenXers and 35% of Baby Boomers. “Cooking Shows (such as Food Network Shows)” were a top choice for 24% of Millennials and 20% of GenXers, but only 14% of Boomers. “Comedy Shows (such as The Daily Show, Colbert report, stand up comedians) tied for second choice among Millennials at 24%, but were much lower for the other two cohorts (10% and 8%). On the other hand, 22% of GenXers and 36% of Boomers selected “News or News Shows,” while only 6% of Millennials did.

For more information about the survey, see AIM's website.

Millennials Still Moving Back Home

There's an article in today's Huffington Post, Recent Graduates Not Only Move Back Home, But Stay There, that states this year's college grads are skeptical about their job prospects despite the statistics indicating an improving job market. (As the parent of a Millennial in the college class of 2011, I sure hope that things are improving...) The article goes on to describe the situation for several Millennials who moved back home after graduation. According to one young person, "communication" is the key to making the living arrangement work. And, despite a somewhat misleading headline, there is no desire to stay under the parents' roof. “I know they love me, but it’s time for me to go,” said one young woman in the article, who despite all of the challenges associated with moving back home has appreciated the extra time it's given her to be with her family. “I just hope that I can.”
-Robin Albing

Prom Spending Way Up - Sign of Improving Economy or Imprudence?

The uniquely American tradition of "Prom" is often used as an indicator of economic trends. This year spending is way up which could be a good sign that the long Recession is over. On the other hand, the spending seems almost ridiculous in light of the cost of higher education in this country. Is $1500 for one night of revelry really worth it? Or would young people be better off spending less and saving more for college as put forth by the Sally Greenberg of the National Consumers League? Read more about this trend in yesterday's NY Post and give us your opinion... How does this bode for future spending by Millennials on the wedding market? Are "over-the-top" weddings next on the agenda for Millennials?

NO McMANSIONS FOR MILLENNIALS

"Here’s what Generation Y doesn’t want: formal living rooms, soaker bathtubs, dependence on a car.

In other words, they don’t want their parents’ homes."

At AIM, we've been saying that for a long time. Read more from a Wall Street Journal report on the National Association of Home Builders conference.

Millennials are eyeing inner ring suburbs and homes with "character" as they move into the home initiation lifephase.

We loved this comment from a Boomer parent on the WSJ blog:

Milennials want my childhood without my immigrant accented grandparents…although they were a lot of fun and I miss them….art-deco inspired small homes within walking distance to the grocer, ice cream shop, hardware store and local movie theatre all owned by my neighbors. It was a special time.

http://blogs.wsj.com/developments/2011/01/13/no-mcmansions-for-millennials/

10-Year Plan for the Class of 2011

The NY Times Magazine has published a fun, fascinating, interactive Web presentation featuring audio interviews with 18 high school seniors from a San Diego high school, who were asked what they imagine the next decade will have in store for them.

A number of the young people see themselves in careers of service... Jeremy Land is identified as wanting to become an emergency medical technician. “Blood and gore and stuff has never worried me that much,” he can be heard saying. Amanda Strohauer wants to be a psychologist because "I love helping people." Damian Dumas hopes to become a school counselor. The site also features a would-be Army veterinarian, a midwife, and an elementary school teacher.

With regard to wealth, the Class of 2011 seems to have realistic expectations. They see themselves "comfortable," but "I don't see anything in my future that would really make me that wealthy," according to Elivia Freeman who wants to be a neonatal nurse.

The most interesting career objective came from Salome Zamora who would like to own a bakery. This bakery would offer not only "regular" baked goods, but also bake "weed" into food for "people who have medical-marijuana cards."

ARE BABIES THE NEW TREND FOR OLDER MILLENNIALS???

I don’t want to leapfrog the importance of the Millennials and the wedding market because we think it’s going to be important, but I must comment on another phenomenon that I observed over this past weekend.

A little background…My husband and I will soon be empty nest Baby Boomers and we are considering where we want to settle after the last child has left for college. We have already lived the “country/suburban” lifestyle in the NY Metro area and have a New England mountain/lake home where we will live for the majority of the year, but where to settle for winter and “mud season”?? We are thinking we would like to be close to a city, preferably New York, in an affordable area with some degree of charm. Since prices in Brooklyn and Hoboken are reaching into the clouds, we decided to take a look at Jersey City. We had heard a lot about gentrifying brownstones, high rises with hotel amenities and quasi-affordability. What we had not heard about was HOW YOUNG the area is and HOW OLD we seemed by comparison! It was great to see so many young people – we certainly don’t want to live solely among senior citizens – but we didn’t see ANYONE our age the whole afternoon. (Until we stopped to eat a mid afternoon prix fixe meal at a dockside restaurant…where we realized that we were taking advantage of the “Early Bird Special.” UGH! We are our parents!!)

But I digress… In light of the opportunity to observe clusters of Millennials firsthand, we sat for several hours just watching the crowds walk by. It was like a laboratory reinforcing all the trends we’ve been watching at AIM over the past several years. Here are a few of my observations:

1. Everyone was about 25 years old (and at most early 30’s)

2. The crowd was quite diverse in terms of ethnicity and couple/combinations

3. The coffee bars were packed

4. Over half of the young people were pushing baby carriages with very young babies

So is the baby thing a new trend? Is the Recession over and now it’s time to start a family? Jersey City sits squarely across the Hudson River from Lower Manhattan and Wall Street. We have been hearing for over a year that the financial industry is back and strong, so maybe this baby thing is not a national trend. I’d like to hear from some people in other parts of the country. What do you think?

-Robin A @ Albing International Marketing

Click here to see what Pew Research has to say about this Trend.

10 Best New Products for Millennials at 2011 International Home and Housewares Show

The Housewares Show this week was down-to-earth, but had its share of fun, new products. These were our picks for "best of show":

1. Nespresso Pixie

2. Black + Blum Hot Pot BBQ

3. HoMedics charging bags

4. Capital Brands Baby Bullet

5. Thermos UnderArmour Hydration Bottles

6. Casabella Keith Haring

7. iSi Twist N Sparkle

8. Evolution Robotics Mint Automatic Floor Cleaner

9. Zebag Wine Caddy and Rack

10.

Dansk Light Mario Batali cast iron cookware