MILLENNIAL KEY LEARNINGS — THE MAVERICKS- November 8th 2019

Varsha Jeetendra
Nov 8 · 5 min read

The Quint & Dailymotion Join Hands to Further Engage Indian Audiences with Video Solutions

  • With Aims to Increase Revenue, Both Companies Team Up to Deliver Premium Video Experiences to Millennials in India
  • Launched as a mobile-first news publisher, The Quint engages close to one million monthly active users across platforms, with its main traffic coming from those between 18–35 years old.
  • As a nation with over 440 million Millennials who have high purchasing power and enjoy watching videos online, The Quint believes in growing its audience with relevant video content, to further engage with Indian Millennials.
  • The Quint’s plan to grow their millennial audiences through videos aligns with Dailymotion’s strategy to provide top-notch video solutions to drive publishers’ goals.

Source: Quint

Should you opt for millennial-specific cards?

  • In August this year, HDFC Bank launched the Millennia cards targeting the country’s millennials. The bank offers a prepaid card, a debit card, a credit card and an EMI card as part of its Millennia range. “I am confident that this unique range of cards will allow us to meet the youth’s evolving needs,” said Parag Rao, country head-payments business and marketing, HDFC Bank.
  • Cards targeting millennials are often enticing due to attractive offers and cashbacks they provide but evaluate carefully if they make sense for you
  • Evaluate how much you’d have to spend in order to avail the offers; stay away if it pushes you into spending more
  • As millennials are more comfortable using digital wallets, this card allows cash back on reloading digital wallets which most other cards don’t
  • The biggest benefit of this card is that it accrues cashbacks instead of reward points. The cashback is accrued in the form of CashPoints, which can be redeemed against the statement balance or flight and hotel bookings or making purchases from the bank’s SmartBuy rewards portal

Source: Mint

Millennial Consumption Pattern To Shape Indian Markets

  • “Consumption patterns are changing as per the needs of millennials” says the Founder and Chairman of Marico and the Founder of ASCENT Foundation Harsh Mariwala
  • In the last few years, products and services catering to the needs and wishes of the millennials have seen a rapid growth.
  • According to a 2018 Deloitte report, millennials are the chief wage earners in India with 47% share in the working age population. Capitalising on this trend a number of startups are catapulting growth by producing products and services that are attractive to millennials.
  • According to a 2017 report by Morgan Stanley, India will have 410 million millennials by 2020, who will spend $330 billion annually. The size of the millennial population in India will be more than the total population of the USA. It then hardly comes as a surprise to see new and emerging startups concentrate on millennial consumers as their primary target audience.

Source: Times Now News

Pre-boarding: A strategic differentiator for millennial engagement

  • A look at how pre-boarding engagement can help improve retention among millennials and how to design one in your organization.
  • Numerous articles have been written on how to engage millennials at work and ironically, their scope hardly touches upon on the prospect of engaging them meaningfully across the full spectrum of the hiring cycle. There are many crucial touchpoints which recruiters overlook in their interaction with millennials after the candidate offers are rolled out. As hiring evangelists, we need to be mindful about the influences that inform the candidate’s decision-making process as we struggle to retain candidates from poaching.
  • Pre-boarding is gaining currency in our times and is gaining traction as a strategic lever for ensuring employee stickiness in-organization. It can be an antidote to curbing mass dropout trends prevalent in the mass-hiring market due to the plethora of choices available for the average millennial today. The concept of pre-boarding and the way organizations are vying to get a mind share of this critical employee mass makes for interesting analysis. According to a Deloitte survey, millennials don’t expect to spend a long time in one job.

Source: People Matters

What the millennial Indian wants: Not cars & houses, just fun & convenience

  • 3 major emerging trends — First, the buying trend is quickly shifting from ownership to access. A report by Goldman Sachs says we are fast moving towards a ‘sharing economy’. Buying a car, or a property is being pushed lower on the priority list of the average millennial. Millennials are willing to rent a property or share their parent’s home for a longer time, and instead save for travel and leisure.
  • To stay ahead of the curve, businesses must invest in interactive technology that increases convenience and at the same time, maintains trust. Mobile connectivity and e-commerce in India is expected to grow by leaps and bounds.
  • Thirdly, a noticeable trend has been the growing conscientiousness in two aspects, well-being and social good. As a result, millennials are becoming increasingly health-conscious and willing to pay a premium for good health. Research shows that 36 per cent of Indian millennials have a fitness app installed on their phones. About 45 per cent think leading a healthy life is a priority. About 60 per cent disapprove of smoking and 21 per cent drinking. Businesses willing to put in greater effort and research into healthier alternatives will have an edge.
  • Millennials are also more environmentally and socially aware and conscious than earlier generations. Brands establishing a reputation for environmental stewardship and sustainability are bound to grow market share and build loyalty among the millennials.

Source: Economic Times

Varsha Jeetendra

Written by

The Mavericks

A Reputation Management Agency in India

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