U.S. Millennials (aged 16-30) are the most likely to adopt new buying methods such as mobile payments with 9% of U.S. millennials using mobile payment applications daily.
According to Connected Life, a study of over 60,000 internet users worldwide from global research consultancy TNS found the average Millennial with internet access, spends 3.1 hours a day on their mobile devices – the equivalent of 21.7 hours – almost a whole day – every week. That’s 1,128 hours or 47 days over the course of a year.
U.S. Millennials prioritize social over other forms of media, with 71% using social media daily, or watching online video (76%). This age group is also the most likely to adopt new buying methods such as mobile payments with 9% of U.S. millennials using mobile payment applications daily. They also continue to consume media in traditional ways (e.g. TV, radio) but with much lower frequency than older generations.
Focusing on how to use new channels to engage millennials can be an expensive distraction. By constantly trying to keep up with the most digitally advanced consumers, brands risk leaving behind other consumers who are also shifting their patterns of behavior, albeit at a slower pace.
For older consumers who are online, traditional media habits still hold strong with the 46-65 age group spending 4.3 hours each day watching TV, reading newspapers and listening to the radio; nearly three hours more than the average millennial (2.9 hours). Yet older consumers are still a shifting target, and are using online platforms on a much more regular basis. Those online aged 46-65 spend 1.2 hours a day on their phones, while 42% use Facebook on a daily basis.
This dual pace in consumer adoption rates is creating a growing ‘digital divide’ that is most evident in Western markets, particularly the US, UK, Germany and France, leaving many businesses struggling with how they can tailor content for different audiences.
In today’s fragmented media landscape, millennials are using even more platforms across IM, social and traditional channels. Over half (55%) of 16-30 year olds use instant messaging every day, up from 36% last year, while almost three hours a day are spent watching video on-demand and TV shows on the internet.
For data, background and forecasts on Millennials: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).