Tracking millennial consumer trends can present investors with an opportunity to capitalize on targeted growth in the broader retail sector. It’s an interesting consumer demographic to track that also adds a technological bent to the retail mix.
For example, more Gen Z and millennial consumers are preferring to use text messaging when it comes to brand awareness. It’s the preferred method of communication over emails.
“Gen Z and millennial consumers prefer text messaging over email to engage with brands for quick questions, confirmations, and real-time payments, per a Mitto study in May 2022,” an eMarketer article said.
With mobile devices at the ready, Gen Z and millennial consumers can engage with brands quickly and efficiently. As it turns out, response times are much quicker, giving businesses a leg up on getting more engagement with their respective brands.
“Texting remains an effective tool,” the article added. “One in three consumers checks text notifications within one minute of receipt, per a 2022 survey of business owners, consumers, and digital marketers from SimpleTexting.”
Tracking Consumer Trends of Millennials
Getting the targeted growth potential of millennials and their consumer trends can be tracked via the Global X Millennials Thematic ETF (MILN). MILN seeks to provide investment results that correspond generally to the price and yield performance of the Millennials Thematic Index.
In the case of MILN, the underlying index is designed to measure the performance of U.S.-listed companies that provide exposure to the millennial generation as defined by the index provider. The millennial generation refers to the demographic in the U.S. with birth years ranging from 1980 to 2000. The fund offers:
- High Growth Potential: Millennials have surpassed Baby Boomers as the largest generation in the US.1 With most of their prime earning years ahead, companies that cater to Millennials should be well-positioned for growth.
- Invest in US Consumers: The US economy is consumer-driven, with private consumption accounting for more than two-thirds of nominal GDP.
- Unconstrained Approach: The most innovative US companies often defy sector categorization. MILN invests accordingly across a wide range of consumer-driven businesses.
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