Millennial women know a thing or two about adversity. Not only have they spent their formative years surviving one of the worst economic recessions to date, but they’re also a constant target of media scrutiny – often portrayed as over-sharers, flaky employees and generally unmotivated, vain humans. Yet for the majority of millennial women, these stereotypes don’t ring true. And considering millennials will make up 75% of the workforce by 2025, it is crucial to truly understand these women as they continue to change the game in school, at work and at home.
Millennial Women: Work and Life Trends and Preferences
Millennials as a whole are markedly different from previous generations. A product of their time, their values and actions reflect their experiences growing up in an era that values diversity, education and inclusion.
Although millennial women are catalyzing changes in higher education, in the workplace and at home, they still face significant barriers.
In higher education, millennial women are more likely to have a degree than their male counterparts, and they are entering more diverse fields than women of past generations. However, there are still barriers to the more lucrative majors, and educated millennial women face overwhelming student loan debt.
In the workplace, millennial women are building a more flexible work culture and demanding a more balanced life. However, they face disparities in job opportunities and continue to earn less than men, especially in leadership positions, resulting in more economic uncertainty.
At home, millennial women are getting married and having kids on their own terms, tending to settle down later in life and continue working after having children. However, uneducated millennial mothers, living in areas of high inequality in particular, are more likely to have children outside of marriage and may lack the support they need.
Millennial Women as Consumers
Millennial women outspend their male peers significantly. As this demographic continues to enter the workforce and gain more resources, they continue to grow as a powerful market, especially millennial moms, who are becoming one of the largest and most well-connected consumer groups to date.
Millennial women seek authenticity, empowerment and engagement from brands. Advertisers have responded in recent years with “femvertising.” This genre of ads focuses on the strength of the women they are selling products to, rather than the product itself, and purposefully distances itself from traditional female stereotypes often used by marketers. While the campaigns have proven highly effective and profitable for many brands, they have also backfired in several cases in which they were seen as patronizing or insincere.
To learn more about millennial women and to see examples of what’s working and what’s not working when marketing to this group, request the full report at firstname.lastname@example.org.
October 11, 2016 | Research