Death of an optimistic generation?

By Katie Dennis, Senior Planner, Consumer Insights

We've had many discussions with clients and colleagues about how consumer attitudes are shifting in today's economic climate, and whether or not these changes will endure.

Many of our clients' offerings are geared toward Millennials (those born between 1979-2001), so we have been keeping an especially close eye on the changes emerging within this audience.

Millennials are categorized as a confident, optimistic and entitled generation; but, can they remain positive in the face of adversity, uncertainty and forced frugality?

An omnibus survey conducted in December by StrategyOne on behalf of Pepsi - a company that recently overhauled its branding to reveal a newly optimistic identity - found that even though 95% of Millennials say it's important to maintain a positive outlook on life, 56% feel anxious about their lives now.

As Millennials are faced with the harsh realities of a weakened economy, can a generation not used to being told "no" learn to live without? Will older Millennials have a harder time adjusting than their younger counterparts? Can their optimism prevail?

Anxiety and uncertainty are very real (and very new) feelings for these consumers. Brands must strike the right balance between offering Millennials transparency while still offering them hope. Messages that speak to resilience and support during difficult times rather than doom and gloom will play well with this once unshakably optimistic audience.

Watching how Millennials are impacted and shaped by these difficult times can give us a glimpse into our future. As the economy worsens in the months ahead, as many experts are predicting, we here at AMP will continue to explore the changes taking place in the hearts and minds of Millennials, as well as the implications these changes have on our culture and on our clients.