It’s pretty obvious that millennial consumers tend to spend their time and money with big digital brands.
YouGov BrandIndex, a public-perception research firm that interviews over 1.5 million consumers yearly, just published the results of its latest survey ranking the brands that notched the biggest gains in making millennial consumers into current customers.
The ranking of 20 companies is heavy with digital giants like like Twitter, Snapchat and Airbnb. Each brand’s customer score is the percentage of U.S. millennials who are current customers of that particular brand. Current customer means they bought the product or visited the website within the past 30 days.
Are you curious, who made it to the top 20? We’re showing you the list:
Uber received the gold medal for market endeavors by growing its millennial customer base an astonishing 8.2 percent points this year over last. This growth came despite a pretty much uninterrupted flow of alarming news about the $70 billion ride-sharing app, leaving millennials’ morals basically untouched.
The presence of companies like Instagram, Snapchat and Spotify in the top 10 is a living example that youngsters devote much of their day (by some accounts, as much as 10 hours of it) to their mobile devices. Indeed, a subset of this group speaks volumes about yet another millennial preference. Apart from Uber in the lead position, occupying the third and 12th place, are Lyft and Airbnb - creating the holy trinity of the sharing economy.
The popularity of such sites is hardly exclusive to the younger demographic though (Airbnb recently reported that people aged 60 and older make up the fastest-growing demographic of its hosts, and the average user is 35 years old) - but their place on the survey confirms that younger consumers have a high comfort level with sharing platforms.
The dominance of these brands in the millennial alignment calls up the question of long-term viability, at least to YouGov BrandIndex CEO, Ted Marzilli. “One of the challenges to those brands is, as people mature, [will] they stay with them and stay comfortable with that idea over time?” he said. “Or do those brands become something ‘I used to do when I was younger.’?”
We’ll see next year’s statistics to try and answer this question. But first of all, let’s raise our glasses to the lucky stakeholders!