Industry jargon not your thing? Our glossary will enlighten you!
Millennials, also known as Generation Y, refer to the population group born between the early 1980s and the late 1990s. This generation follows Generation X and precedes Generation Z. Characterized by growing up in a time of rapid technological advances and global connectivity, Millennials have developed specific social, economic and cultural characteristics that distinguish them from previous generations.
Millennials are considered tech-savvy and are the first generation to have grown up with the internet and mobile technologies. This has made them pioneers in the use of social media and digital communication. Compared to their predecessors, they are more educated but face challenges such as rising education costs, economic uncertainty and a competitive job market.
Millennials are pioneers in the use of technology. They use smartphones, apps and the internet not only for entertainment and communication, but also for education, shopping and political participation. Their media use is characterized by streaming services, and they prefer on-demand content to traditional media such as television and radio.
This generation shows a strong social consciousness and is increasingly engaged in social and political issues. From environmental issues to social justice to political transparency, millennials are demanding change and are not afraid to express their opinions both online and offline.
As millennials age and gain more economic power, their ability to influence social and economic trends will continue to grow. Their preferences and values, such as sustainability, health and technological integration, are expected to shape developments in many industries.
Millennials tend to experience technological change as part of their formative years, whereas Gen Z members, as true digital natives, grow up with advanced technology from an early age.