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Sunday, August 02, 2015

Millennials are having a hard financial time - OK so what?

There is an article in the New York Times titled: We’re making life too hard for Millennials.

The article is spoilt by the author going through periods of self flagellation. Lots of Boomer Bashing about how his generation is to blame, how they spent the kids inheritance etc etc etc..

If you ignore this nonsense there is one big takeaway from the article - Millennials are not wealthy consumers. Well certainly large numbers of them are not. Worse still, they are unlikely to be so in the future.

If I was a marketer and expected to deliver results, and Millennials were my target consumer group, I would be a tad worried.

The reasons why Millennials income is so tight are many and complex but one thing is certain - there is no magic wand to improving their lot.

Sorry but the article is behind a paywall. Read it if you can but if cannot just remember the basic message of this blog posting - Millennials are a financially stressed group of consumers. Dick Stroud

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