The millennial generation is the largest, with significant influence on consumer behavior and a projected spending power of $3.39 trillion by 2018, largely driven by mobile commerce. They are also the most educated generation, with a preference for online learning and flexible work environments. As they take on more leadership roles, companies must adapt their culture to meet millennials' expectations for workplace flexibility and technology integration.

1. The Millennial Generation
(1) Approximately 10,000 Millennials
turn 21 everyday in America. [TIME]
The Millennials are the largest
generation on our planet. As the Baby
Boomers taught us, the larger the
generation, the greater the influence
over norms, expectations and behavior.
With the Millennials comes mega
change…
Design by: www.aspiredsteps.com

2. The Millennial Consumer
(2) By 2018, Millennials will have the
most spending power of any
generation. [Bazaar] (3) Their annual
spend in 2015 is expected to be $2.45
trillion and by 2018, they will eclipse
Boomers in spending power at $3.39
trillion. [Oracle]
www.aspiredsteps.com

3. Mobile commerce will be a huge
contributing factor to the 3.39 trillion
as (4) 41% of Millennials have already
made purchases with their
smartphones. [Edelman Digital] If your
website, product or service is not
mobile ready…good riddance.
www.aspiredsteps.com

4. (5) 48% of Millennials who say word-of-
mouth influences their product
purchases more than TV ads. Only 17%
said a TV ad promoted them to buy.
[Intrepid] And where do you think they
get this word-of-mouth influence?
Social media – duh. (6) 63% stay
updated on brands through social
networks. [Ipsos] And (7) 43% have
liked more than 20 brands on
Facebook. [Mr Youth]. A social media
presence these days is a must to
capitalize on Millennial spend.

5. The Millennial Student
(8) Millennials are the most educated
generation in American history with
over 63% of Millennials having a
Bachelor’s Degree. [Millennial
Branding] How will you stand out in
today’s over crowded talent pool.
(9) 50% of Millennial college students
say they don’t need a physical
classroom. (10) 53% believe that online
colleges are reputable. And (11) 39%
view the future of education as being
more virtual. [Millennial Branding]
Eventually how can you expect them to
need or want a physical workplace?

6. The Millennial Entrepreneur
(12) 21% of freelancers are still enrolled
at a university. [Odesk] Millennials are
capitalizing on their talents and passion
with today’s technology and connected
economy. Find your side hustle.
(13) 90% of Millennials surveyed think
being an entrepreneur means having a
certain mindset rather than starting a
company. [Odesk]
www.aspiredsteps.com

7. (14) 54% either want to start a business
or already have started one. [Kauffman
Foundation] Today’s digital age makes
it easier than ever before to launch a
business and market to the world.
www.aspiredsteps.com

8. The Millennial Employee
(15) By 2025, 3 out of every 4 workers
globally will be Millennials. [Time] Why
not starting building your company
culture to appeal to Millennials
now…since it’s going that way anyway.
(16) 89% of Millennials would prefer to
choose when and where they work
rather than being placed in a 9-to-5
position. [Odesk] And (17) 45% of
Millennials will choose workplace
flexibility over pay. [Millennial
Branding]

9. (18) 56% of Millennials won’t accept
jobs from companies that ban social
media. [Cisco] Learn to embrace the
social web. Denying them today’s
technology leads to resentment.
(19) Average tenure for Millennials is 2
years, compared to 5 years for Gen X
and 7 years for Baby Boomers. [Pay
Scale / Millennial Branding]
www.aspiredsteps.com

10. To keep Millennial talent, rethink your
current company culture and find ways
to infuse more flexibility, technlogy and
social-ness…otherwise, be prepared to
pay the price. (20) It costs an average of
$24,000 to replace each Millennial
employee. [Microsoft / Experience
Inc]
www.aspiredsteps.com

11. The Millennial Leader
(21) 63.3% of U.S. executives will be
eligible to retire in the next 5 years.
[PWC] Generation X is not a large
enough generation to fill this large
leadership gap. Many Millennials will
have to leap frog into these positions.
Have you prepared them?
(22) In the last 5 years: 87% of Millennial
workers took on management roles, vs
38% of Gen X & just 19% of Boomers.
[EY] Change will accelerate as more
and more Millennials enter leadership
roles.
www.aspiredsteps.com
Source: http://ryan-jenkins.com/2013/09/16/22-shocking-stats-about-
millennials-to-help-you-chart-tomorrows-change/