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The Characterization of the Millennials and Their Buying Behavior

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  • Flor Madrigal Moreno
  • Jaime Gil Lafuente
  • Fernando Avila Carreon
  • Salvador Madrigal Moreno

Abstract

The millennials constitute an important group of consumers. Therefore, to know how they behave has become an important issue. This paper aims to explain who the millennials are, to explain who belongs to this generational group and why they have become an attractive group for different social and economic sectors, by showing the most outstanding attitudes, tastes and buying behaviors. This is a qualitative and transactional research based on the review of various scientific articles retrieved from specialized journals which have helped to establish a characterization of the most prominent elements that describe the millennials, based on some points of coincidence described by different authors. The findings suggest that millennials are a highly attractive market as they have grown up in an environment where technology provides a platform for personalization and immediate gratification in all aspects of life. Consequently, the buying process for them is a time of enjoyment, where loyalty to the brands they purchase is relative. Also, millennials tend to spend their income quickly and more often through the web, and particularly through social networks like Facebook. Also, the results show that the millennials are more attracted by virtual advertising as coupons or discounts. The results contribute to the literature by providing a description of millennial consumers; showing in detailed the importance of this market segment and their buying behaviors.

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  • Flor Madrigal Moreno & Jaime Gil Lafuente & Fernando Avila Carreon & Salvador Madrigal Moreno, 2017. "The Characterization of the Millennials and Their Buying Behavior," International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 9(5), pages 135-144, October.
    • Handle: RePEc:ibn:ijmsjn:v:9:y:2017:i:5:p:135-144
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    References listed on IDEAS

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    1. Jackson, Vanessa & Stoel, Leslie & Brantley, Aquia, 2011. "Mall attributes and shopping value: Differences by gender and generational cohort," Journal of Retailing and Consumer Services, Elsevier, vol. 18(1), pages 1-9.
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    Cited by:

    1. Andrée Marie López-Fernández, 2020. "Price sensitivity versus ethical consumption: a study of Millennial utilitarian consumer behavior," Journal of Marketing Analytics, Palgrave Macmillan, vol. 8(2), pages 57-68, June.
    2. Manuel Alonso-Dos-Santos & Carmen Zarco & Sardar Mohammadi & Daniela Niño-Amézquita, 2024. "Sponsorship effectiveness on betting intention-unobserved segmentation," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-12, December.
    3. Quach, Sara & Septianto, Felix & Thaichon, Park & Nasution, Reza Ashari, 2022. "The role of art infusion in enhancing pro-environmental luxury brand advertising," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
    4. Bertina Sjabadhyni & Martina Dwi Mustika & Nathasia Carissa & Syifa Khairunnisa & Leo Andhika Kurniawan & Amira Budi Mutiara & Retno Putriaji & Andre Patio Sinaga, 2021. "The Role of Need for Cognition in Predicting the Attitudes of Indonesian Millennials Toward Printed Advertising and Purchase Intentions," SAGE Open, , vol. 11(3), pages 21582440211, July.
    5. Bargoni, Augusto & Kliestik, Tomas & Jabeen, Fauzia & Santoro, Gabriele, 2023. "Family firms’ characteristics and consumer behaviour: An enquiry into millennials’ purchase intention in the online channel," Journal of Business Research, Elsevier, vol. 156(C).
    6. Andrée Marie López-Fernández, 0. "Price sensitivity versus ethical consumption: a study of Millennial utilitarian consumer behavior," Journal of Marketing Analytics, Palgrave Macmillan, vol. 0, pages 1-12.
    7. Meštrović, Ines Sosa & Knežević, Blaženka & Falat, Martina, 2019. "What Influences Decision Making in Online Purchasing of Books in Generation X and Y?," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2019), Rovinj, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 12-14 September 2019, pages 367-375, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    8. Flecha-Ortíz, José & Santos-Corrada, María & Dones-González, Virgin & López-González, Evelyn & Vega, Alberto, 2021. "Millennials & Snapchat: Self-expression through its use and its influence on purchase motivation," Journal of Business Research, Elsevier, vol. 125(C), pages 798-805.
    9. Ruiying Xiong & Kim Spaccarotella & Virginia Quick & Carol Byrd-Bredbenner, 2019. "Generational Differences: A Comparison of Weight-Related Cognitions and Behaviors of Generation X and Millennial Mothers of Preschool Children," IJERPH, MDPI, vol. 16(13), pages 1-14, July.
    10. Javier F. de la Ballina & Isabel de la Ballina, 2019. "Scarcity as a Desirable Attribute of Luxury Fashion Brands in Millennial Marketing," Tržište/Market, Faculty of Economics and Business, University of Zagreb, vol. 31(2), pages 153-170.
    11. Laura Nistor, 2019. "The Case of Omni-Channel Consumers. A Qualitative Study regarding Students’ Clothing Consumption Habits," Postmodern Openings, Editura Lumen, Department of Economics, vol. 10(3), pages 44-71, September.
    12. Ka-Yan Joey Wong & Seong-Yeon Park, 2023. "That’s so Gucci: a comparison of cultural values and the influence of perceived values on luxury goods attitudes and purchase intention among Korean and Dutch millennials," Asian Business & Management, Palgrave Macmillan, vol. 22(5), pages 1804-1829, November.
    13. Christian Wiradendi Wolor & Solikhah & Dewi Susita & S. Martono, 2020. "How to Maintain Employee Motivation Amid The Covid-19 Virus Pandemic," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 78-86.
    14. Dr. Md. Mozammel Hossain Bokul, 2023. "Music Consumption on Digital Platforms: A Study on Bangladeshi University Students," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(7), pages 90-105, July.
    15. Melović, Boban & Šehović, Damir & Karadžić, Vesna & Dabić, Marina & Ćirović, Dragana, 2021. "Determinants of Millennials' behavior in online shopping – Implications on consumers’ satisfaction and e-business development," Technology in Society, Elsevier, vol. 65(C).
    16. Mahmood Hayeemad & Mohamed Soliman Mohamed Soliman, 2024. "Modelling Halal Cosmetics Purchase Intention among Millennial Female Consumers," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(2), pages 601-615, February.
    17. Han, Jeong Hugh, 2023. "Does ‘born digital’ mean ‘being global’ in characterizing millennial consumers in a less developed country context? – An empirical study in Myanmar," Technological Forecasting and Social Change, Elsevier, vol. 195(C).
    18. Lv, Zhe & Zhao, Wenjia & Liu, Yu & Wu, Jie & Hou, Mutian, 2024. "Impact of perceived value, positive emotion, product coolness and Mianzi on new energy vehicle purchase intention," Journal of Retailing and Consumer Services, Elsevier, vol. 76(C).
    19. Octavia Cristina Bors, 2019. "The Importance of Image when Developing a Powerful Political Brand," Postmodern Openings, Editura Lumen, Department of Economics, vol. 10(3), pages 72-85, September.

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    More about this item

    Keywords

    characterization; buying behavior; millennials;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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