THE MILLENNIALS
THE MILLENNIALS
MILLENNIALS ARE BREAKING ECONOMIC BARRIERS BY CLAIMING THEIR SPOT IN THE UPPER-CLASS
By Nathalie Sodeike
According to the Ipsos Affluent Survey Global 2016 , millennials are breaking economic barriers . Born between 1982 and 1994 they are already joining the Affluents ’ elite . This is remarkable because income generally grows as a career progresses . However , millennials still have a career marathon ahead of them .
Globally , over 2 out of 10 Affluents are millennials . The share of Millennials is the highest in Africa , where 40 % of the Affluent audience is between 21 and 34 years old . In Europe this is only 17 %.
Africans ’ Affluent Millennial indulges
Millennials are an important target group in general . However , this significant group of upscale African Millennial individuals prove to be an interesting target group of its ’ own . They tend to indulge and treat their selves with luxury items more than the older African Affluent ( 35-74 y / o ).
Africans ’ Affluent Millennial key facts
• They tend to take the lead in decision making ( eight out of ten ).
• They are confident about the future of their standard of living ( 84 %).
• One out of 3 already owns a gold / platinum credit card with which they go shopping for well-known brands ( 79 %).
• Two out of three ( 64 %) Affluent Millennials bought luxury products of one kind or another in the past year . ( This is 56 % amongst 35-74 y / o )
• Nearly two out of ten made six or more air trips in the past twelve months and an equal amount stayed in upmarket four or five star hotels or upscale resorts .
• To keep up with their upscale lifestyle , gaining knowledge and