Never in the history of marketing has so much been said about a generation as millennials. We think we know them – they are super-connected, carefree and selfcentred – and those assumptions have driven our marketing decisions for years.
This may have been true once, but time has moved on and millennials have grown up; the eldest members of the generation are now in their mid-thirties. In Latin America, 25% of housewives are under 34. Far from being free of responsibility, they have families, homes, careers and economic worries – and this affects what they buy, and how they buy it.
It is extremely important that brands and retailers have a proper understanding of this vital shopper segment. A quarter of the population of Latin America is millennial, and they account for 24% of total FMCG spend – equivalent to US$30 billion dollars.
If you want to learn more you can download the report.