Good morning, it’s March 18, a Friday! Here are today’s pins.
According to consumer psychologist Kit Yarrow, Millennials will be spending about $200 billion in 2017, with more to come. Fox Business looks at how that’ll impact the market, most significantly with Millennial Moms. The piece goes into the usual Millennial hallmarks – brand savvy, apps and social platforms necessary.
Zillow is telling us that Millennials making more than $350,000 per year are the generational 1 percenters. So where are those wealthy Millennials living? Arlington, Va., is first on the list, then a number of California locations (San Francisco, Huntington Beach, Sunnyvale). Also on the list: Seattle; Denver; Cambridge, Mass.; New York and Oakland.
Big news for Ford: The automaker has announced the best ever calendar year start for its SUVs. Since January Ford has recorded 115,228 SUV sales, with Explorer sales increasing 18 percent. The Explorer is the best-selling SUV for Ford with Millennials. It’s a little surprising that Explorer is doing so well, considering it’s one of the more high-end SUVs in the Ford stable (base price $31,050), but the point here is simple: Millennials aren’t that different. I’ll harp on it again and again – they’re like their parents the Baby Boomers. Having kids? Need a giant gas guzzler.
A Harris Poll survey on drinking culture in America says folks drink more when they’re happy (special occasions, birthdays) than when they’re sad or upset. In fact, 86 percent of people drink during a special occasion, while only 40 percent drink after a breakup. Harris also looked at demographics, finding that Millennials – across the board – prefer beer over wine and liquor, while Gen-Xers go for liquor when stressed (beer otherwise), and Baby Boomers like a mix of liquor and wine (usually when happy). Why do Millennials love beer so much? Two reasons: craft variety and, you guessed it, it’s affordable.
Nintendo, of all things, has launched an app asking users to share weekend plans with others. Called Miitomo, it asks questions of users that, according to Nintendo, don’t come up in regular conversation (think “Where will you be in 10 years?”). Miitomo launched in Japan. It’s probably aimed a bit more at the younger generation (age 14-15 and younger), but I’ll keep one eye open.