Millennials Archives

What Generation Z Values From Brands

Posted on November 5, 2020 by Dominique Smith

Just a few years ago, Millennials were the hottest and most talked about generational cohort on the block, driving consumer behavior and value trends in the market. But in 2020, Generation Z has noticeably taken the wheel, accelerating actions and demanding accountability for brands to live and breathe diversity & inclusion, authenticity, and social responsibility.

Who is Gen Z and why are they so influential?

Gen Z, ages 8-23 today, are true digital natives. The first generation to be fully foreign to life before the digital landscape, Gen Z accounts for 20.46% of the total U.S. population (67.17 million), represent the most racially and ethnically diverse generation in history, and together with Millennials account for $350 billion in spending power in the U.S.—an impact impossible to deny for today’s leading brands and businesses.

Gen Z is a generation who leans into the value of self-expression from a non-binary lens, leverages voice and action to force change, and cares deeply about ethical and sustainable consumption.

The generation behaves completely differently from the generations before. Hyper digitally intelligent, Gen Z, and the brands they buy from, have a completely dynamic customer journey—whether the journey begins with an enticing Instagram ad or a pop-up event. Gen Z has made it clear that a hard-hitting, consistent, and relatable brand narrative, online and offline, plays a huge role in winning their attention, hearts, and pockets.

So, what should brands pay attention to when thinking about resonating, connecting, and engaging Gen Z?

1. Diversity & Inclusion

To start, if you’re looking to attract Gen Z, your brand’s diversity & inclusion has to run deeper than performatively plastering words on your careers page or adding more stock photos of people of color on your digital platforms. It’s about being authentically who you say you are. Gen Z’s can tell the difference between the posers and those authentically disrupting the status quo—with ease.

For example, when Rihanna launched Fenty Beauty in 2017, she completely shook the beauty industry. Her line offered 40 shades of foundation (now 50), ranging from the lighter shades typically in abundance in any given makeup aisle to deeper and darker shades that Black and Brown people have struggled to find for decades.

In my 24 years of life, the arrival of Fenty Beauty was the first time I’d ever seen any brand launch a campaign that depicted such a wide range of skin tones and that clearly celebrated people of color who weren’t predominantly lighter-skinned or racially ambiguous. And it didn’t just appeal to me because it was a clear representation of diversity. It was also raw, real, and relatable. It was content I’d never been exposed to. It was content I’d never seen so much of the world witness.

The Fenty Beauty brand, then and now, celebrates and normalizes what it looks like to be a HUMAN. But, it doesn’t stop there. Rihanna has continued this brand narrative across all of her brands including Savage X Fenty, her lingerie brand that recently added pieces for her male audience, and now Fenty Skin which is completely gender-neutral. She’s built her brand around diversity & inclusion and continues to deliver that promise at every touchpoint which is why it’s believable, truly authentic, and here to stay in people’s hearts and minds.

2. Sustainable Consumerism

It’s imperative for any retailer looking to connect with Gen Z, Millennials, or Gen X to focus on ethics and sustainability. Immense access to digital information has educated and impassioned Gen Z and Millennials to become more environmentally conscious, influencing their consumer behavior and their parents.

As the rejection of fast fashion brands continues to grow, second-hand fashion retailers like ThredUp and peer-to-peer online shopping platforms like Poshmark and Depop continue to gain and maintain popularity. It’s clear that Gen Z wants to consume more while wasting less. In fact, ThredUp’s 2020 resale report estimates that the second-hand market will hit $64 billion by 2024 and is expected to grow to 69% by 2021.

Increased desire to consume more sustainably has also made room for niche household brands—Caboo bamboo toilet paper, Unni biodegradable trash bags, and Blueland eco-friendly cleaning products—to enter the market and appeal to both younger and older generations. This trend is likely to continue as Gen Xers come into more financial maturity and have the means to spend more money.

3. Authenticity

The civil unrest following the killings of George Floyd and Breonna Taylor earlier this year sparked BLM protests around the world and pushed brands to speak out on Instagram to express their solidarity for Black lives. Anthropologie, who posted a quote by Maya Angelou highlighting the importance of diversity and equality, received backlash and public callouts by former and current employees. It became viewed as hypocritical and performative across audiences when it was unveiled that the brand, including brands like Urban Outfitters and Zara, had racial profiling practices within their organizations (racist behaviors like using internal code names for people of color who enter their stores).

Nike on the other hand is a great example of a truly authentic brand. They get their hands dirty in abundance when it comes to corporate social responsibility whether it’s partnering with grassroots organizations to help bridge opportunity gaps for youth in urban communities, responsibly sourcing materials for products, or taking a stand in support of socio-political issues and not just when it looks good. No wonder they’re a Gen Z favorite.

Why do brands need to embrace Gen Z values?

This generational cohort is young, but they have the power of influence when it comes to behavior and value. Not just on themselves, but on all generations. This is why brands must pay attention to this generation. To be a lasting brand, you have to focus on authentic and ethical brand behavior to build brands that Gen Z’s are going to trust, value, and love.

Emotive Brand is a brand strategy and design agency in Oakland, California

Generation Z: A New Generation With New Challenges for Brands

Posted on November 1, 2018 by Saja Chodosh

Gen Z, Already?

For the past several years the spotlight has been on one generation: yes, millennials – the most studied and arguably the most sought after (or talked about) generation by brands and businesses to date. We, for one, have discussed: what brands they love, where they put their money, where they put their loyalty, why where they work matters, if all the “millennial advertising” hype is even worth it… Now, it seems the focus is shifting. The internet, advertisers, and marketers today are starting to pay a little more attention to those millennials’ younger siblings: Gen Z.

There are three major narratives floating about Gen Z:

1) The generation is just an exaggerated version of millennials: more distrustful, more digital, and more diverse.

2) Gen Z is not like millennials at all. They spend less, collaborate less, and care less about brand names.

3) Some combination of the latter. So, what is it?

Who Is Gen Z and Why Even Pay Attention?

When you dive deep into the available research and stream of news articles making claims about who Gen Z is and isn’t, it’s hard to make out fact from fiction. When it comes down to it, we just don’t know enough – yet. The studies ask too few people in too few areas at too few ages to make any kind of definite conclusions.

What we do know for sure is this: Gen Z is still young and developing. The oldest of the Gen Z generation is just about to enter the workforce – that means late teens/early 20s. Gen Z grew up during the Occupy Wall Street Movement. They were young when 9/11 happened. They don’t remember life without the internet or social media. Now, they are a generation of about 70 million – the most diverse and multicultural of any generation before – and everyone is paying attention.

New Spotlight: Generation Z

As a branding agency, we are excited to keep up-to-date on this emerging generation. Based on what we know and the current research out there, here’s what we can predict about Gen Z.

Experiences Aren’t Forever

We’ve talked a lot about building resonant brand experiences. However, Gen Z might be demanding a different type of experience than generations before. This is a generation who lives on SnapChat. And what differentiates SnapChat from other social media platforms? SnapChat’s entire identity is based on its impermanence. The photos disappear. And it doesn’t stop at SnapChat. Other platforms like Whisper and Secret are among the most popular with Gen Z – both of which offer the value of privacy within the guise of being “social apps.”

Our guess why? In a world of information-overload and constant availability, fleeting experiences feel unique and special. Brands that embrace the ephemeral might find new success with this generation – think experiential events, mixed medium, VR …experiences that allow individuals to shape them. This is exciting for brands who must step up with creative, innovative, fresh, and brief but lasting ways into this generation’s heart.

An Entrepreneurial and Innovative Spirit

Gen Z seems to be a notably independent generation. A recent HBR study found that ¼ of Gen Z students display interest in starting their own business. And according to Gallup, 8/10 kids want to be their own boss, and 4/10 want to start their own business. In fact, 70% of teens are already their own boss – self-employed and making money by teaching piano or selling clothes on YouTube – showing an increase from generations before.

This means businesses and brands are going to have to work hard to keep up. Innovation is even more of an expectation. Companies who want to attract young talent are going to have to work hard to tailor jobs that allow Gen Z to create, innovate, and disrupt.

Dreams With A Price Tag

Initial studies have shown one big difference between millennials and Gen Z: Gen Z cares more about money. According to a Lincoln Financial Group study, around 60% of them already have a savings account and 71% say they really want to focus on saving in the future. Many articles note that this generation worries more about college debt.

Two interesting examples of brands who are catching on to this thrifty nature are Spirit Airlines (a budget airline) and Stayful (an app for competitive boutique hotel rates). Both brands pride themselves on transparency and value – in short, you get what you pay for. And both have found immense success with targeting this emerging generation.

It’s not necessarily that Gen Z is scared to spend, they just want to make sure what they are buying is worth it. This means brands who are transparent about value should find success with this younger generation as well. We also expect brands who are able to offer and demystify financial planning tools will thrive with this generation.

Brand Is A Given. It’s What You Do With It.

What’s most interesting about Gen Z for brands today is the generation’s general mistrust of them. Especially the big ones. Claims aren’t enough for this generation. Neither are ads. They always look closer – because they can. The technology and the resources to dive deeper are right there. What’s the culture really like? Is it inclusive? What are the work conditions? How does their CEO behave?

Like millennials, authenticity and transparency are values that sit at the heart of this. That’s why we see this generation trusting individuals more than institutions. That’s why this generation cares about what’s in the news surrounding the brands they buy from. And that’s why just sticking a logo on a clothing line is not going to cut it (not that it did before).

Brands who want to succeed today have to work even harder to build their brand from the inside out. Invest in the culture and the leadership that will drive you in the right direction. Adapt more transparent practices. Figure out new ways to personalize. Don’t just rely on a logo (Gen Z isn’t interested in being a walking advertisement). Say what you stand for and let people experience your brand in a different way – in their way. Recruit and retain talent that exhibits the creativity to do so. As Gen Z evolves and comes into view, we believe brands have a big opportunity to do the same.

Keep posted for more about this emerging generation and more.

Emotive Brand is a San Francisco brand strategy and design agency.

Why Millennials Love These Brands

Posted on October 26, 2016 by Saja Chodosh

Millennials: Center Stage for Brands

Millennials now represent the largest group of consumers within the U.S., and thriving brands today are highly aware of this. When millennials are wielding over $170 billion per year in purchasing power, there’s no ignoring this group of consumers.

Brands don’t win over millennials easily. In fact, in many ways, they hold higher expectations of the businesses they work for, the brands they buy from, and pledge loyalty to.

Big Demands

Millennials stand at the forefront of technology – demanding that brands offer more efficiency, innovation, convenience, and quality than ever before. And at the same time they are distrustful of the motives of many businesses. Thus comes the demand for greater transparency, more authenticity, purpose-led values, and an all-around dedication to social responsibility and shaping of a better world.

And brands who expect to cater to the millennial market, but aren’t focusing on their priorities, are doomed to fail in today’s competitive and over-crowded landscape.

So what brands are winning over millennials? Consider why millennials love these brands:

1. Casper: On-Demand

Casper, bed in a box model, has shown remarkable success and growth since 2014 because of the brand’s focus on millennial markets and their need for convenience.

Their ‘one size fits all’ mattress compressed into a box and delivered straight to people’s doorsteps is much like the beloved Warby Parker model. It’s easy, convenient, and void of commitment.

And like brands such as Uber, Lyft, Grubhub, and Netflix who’ve tapped into meeting millennials desire for on-demand convenience for just about everything, they’ve won over millennials who dread shopping for a mattress, negotiating the price, and lugging it from apartment to apartment, sleep deprived as ever. Nylon Magazine comments on how they’ve somehow made mattresses “seem new and exciting.”

2. Thinx: Generating change

Research has found that 90% of millennials now expect that the companies they support actively address societal problems and demonstrate social responsibility.

And Thinx is a prime example of a brand that is winning over millennials by challenging the status quo and changing the conversation. Thinx CEO Miki Agrawal noticed that traditional menstrual marketing techniques were anything but genuine or authentic. White dresses, flowers, happy sunlight dances – these images don’t resonate or empower millennial women who demand authenticity.

By approaching menstruation from an new angle (think high-end art ads of grapefruit halves and cracked eggs), Thinx re-wrote the expectations of the industry. Promising to empower women, making periods powerful, all while the company addresses the societal issues that surround menstruation globally.

As a socially responsible brand, Thinx donates money to Afripads, which helps Ugandan women manufacture and sell locally sanitary pads. And Source Fashion says because of Thinx, “the taboo is now national conversation and Agrawal is an international icon for the feminist and socially-conscious business movements.”

3. AirBnB: Experience-focused

Many brands today have discovered that millennials love adventure, crave new experiences, and want total immersion. In fact, millennials’ love of travel and willingness to spend money on travel experiences is more prominent than any generation before. Fortune found that 67% of millennials between ages 18- 24, and 75% between ages 25-34 have used a home sharing service in the last year.

Millennials want to seek new adventures, immerse themselves in different cultures, share experiences, and learn what home means to others. AirBnB and other brands in the same sphere (HipCamp, CouchSurf, and Behomm) have discovered how to play into millennials’ demand for new experiences and discoveries.

AirBnB has built their brand around the idea of ‘discovery,’ making sure the brand promise rings true at every touchpoint.

4. Amazon: Transparency and trust

With the fast-pace of technological innovation and digital branding, many millennials become more and more distrustful of business today. They want radical transparency. And often, this is what brands need to provide in order to build real, sustainable trust.

Amazon’s dedication to transparency and trust building – transparent pricing, open reviews, easy cost comparisons, steady low shipping – has propelled the brand into the hearts of many millennials today. Business Insider named it the 7^th most popular brand with millennials today. The company also releases transparency reports biannually – living up to its promise and behaving as a trustworthy tech brand.

In a Synecore report, Amazon was ranked the “most liked” tech brand among millennials aged 16-24. It’s rank over Google, Facebook, and YouTube illustrates the draw for millennial shoppers.

Finding Success in Millennial Markets

So brands who want to position themselves for success within millennial markets need to constantly be up to date on the heightening, shifting, expanding needs, demands, and expectations of the market. Research is key here. Fitting into the lives of millennials and behaving in line with their values demands in depth knowledge of the audience. It also requires remaining authentic even as the market shifts, and always acting transparently. A brand that resonates with millennials today is a brand situated for growth.

Emotive Brand is a brand strategy and design agency.

Meaningful Millennials: On Brand Loyalty

Posted on February 18, 2016 by Saja Chodosh

This is the third installment of our weekly series entitled “Meaningful Millennials”, where we interview millennials on a variety of different subjects that are top of mind for us in the studio.

As a brand strategy firm, we work with our clients to help create and roll out strategies that enable their brand, their business, and their workplaces to be more meaningful. We believe that with meaning comes loyalty. And with loyalty comes sustained and successful business. This month, we have been focusing on how brands can build loyal relationships with millennials that inspire connections, maintain trust, establish rapport, and continue to grow throughout time.

As a millennial myself, this week, I asked my peers: What is a brand that you are loyal to, and what do you think drives your brand loyalty?

I heard 12 millennials’ thoughts and here’s what I learned.

Millennials value reliability and authenticity. They want brands that feel like they were built for them. Being personal is one of the biggest assets a brand can have. To be successful with millennials, brands should generate feelings of trust, and also excitement. We like brands that we can rely on, are always satisfied by, and also excited by. Brands gain emotional meaning when they are connected to important and shaping experiences and people in our lives. In the end, loyalty isn’t really about price or product. It’s about brand experiences and associations, and how the brand adds to our life in meaningful, unique, and individualized ways.

Here are our top-line findings from these millennials.

Brands that fit our personal image, style, and needs integrate seamlessly into our life. They feel like they were meant for us, and we feel naturally inclined toward them.
Brand loyalty is more about experience than product. Millennials associate their favorite brands with other people, aspirations, places, rituals, etc. and these associations and stories are what create meaning.
Feelings of trust and authenticity are key to loyalty. Brands that want loyal consumers have to create trusting relationships with those consumers — building, maintaining, and growing the connection like the brand was human as well.
When millennials feel loyal to a brand, they are more likely to spend more money and dedicate more time seeking out their favorite brands. If a brand goes the extra mile for us, we will go the extra mile for it.

Next week, we will continue our “Meaningful Millennial” series, discussing what purpose beyond profit means for millennials. If you are interested in contributing to this discussion, email [email protected].

Meaningful Millennials: In the Workplace

Posted on February 11, 2016November 22, 2024 by Saja Chodosh

This is the second installment in our weekly series entitled “Meaningful Millennials”, where we interview millennials on a variety of different subjects that are top of mind for us in the studio.

As a brand strategy firm, we work with our clients to help develop strategies that enable their brand, their business, and their workplaces to be more meaningful. This year, there has been a lot of work in the studio around employer branding, improving employee engagement, shifting culture, recruiting top talent internationally, and understanding how to create a meaningful workplace for millennials.

So, as a millennial myself, I asked other millennials: What makes a workplace meaningful for you?

What makes us come to work each day? What creates purpose and drives productivity? What adds meaning to everyday work life?

I reached out to 12 millennials and the following are the top-line findings:

Human, one-on-one connections and relationships in the workplace foster feelings of support, belonging, and growth that are really important for millennials.
We don’t want work to be just work. We long for a work culture that encourages balance – a space for learning, growing, and risk taking.
Workplaces that share our values encourage this growth because they make us feel naturally connected to what we do.
Millennials want to care about the work we do and want the people we work with to care, too. We like sharing values with co-workers, but also enjoy independence and the freedom to be our authentic, unique selves within the workplace. This stimulates creativity and productivity, and adds meaning to each day.

Want more specifics? Here’s what millennials have to say.

“A meaningful workplace is one that helps you grow and achieve what you would not be able to independently. I hate the idea of work-life balance and clichés like ‘do what you love.’ Work is part of your life. Every aspect should be lived and enjoyed wholly.”

—Bryan Ku, Designer at SYPartners, CCO at Nerd Skincare, Creative Director at Hummock Island

“Levity. The opportunity to talk and joke with one’s co-workers.”

—Beau Sperry, Post-Baccalaureate Fellow, Biomedical Ethics Research Program at Mayo Clinic

“Overflow of trail mix. Having morning meetings to chitchat, bounce around weekend plans, goals, and aspirations. Setting up silly monthly challenges like ‘squat challenge Mondays’ to keep the environment active and healthy, which in turn makes for a productive team. Setting up mandatory ‘social’ jogs around the office keeps the energy up and is an easy way to get to know your co-workers quirks, values, and vulnerabilities. Lastly, lots of photos! A bulletin board full of inspiration, families, friends, and funny office moments brings meaning to walking into the office every day. Oh, and a gratitude jar.”

—Sarina Karwande, Student of Physical Therapy, Western University of Health Sciences

“A meaningful workplace is one with smiling co-workers greeting you in the morning, as well as saying their goodbyes to you in the evening; colleagues patiently helping coach and provide the proper advice for all your unanswered questions; and, most importantly, laughter filling the room the majority of the day.”

—Lauren Rhodes, People Coordinator, Coupa Software

“Easy. One word: windows. And not the OS.

Employers, please, window your workplace. Go gaga for glass. Our brains thank you.”

—Nick Martino, Publications Assistant, Public Library of Science

“My idea of a meaningful workplace is somewhere where everyone is a team player and the idea is to be the most productive while having an enjoyable time at work.”

—Isabelle Hale, Interactive Accountant, Snipp

“My workplace has felt most meaningful in moments when our team is able to step back from the flurry of details and logistics to talk about the impact our work has on the world. To situate the sometimes-tiring work of email and spreadsheets within our real mission as an organization is invaluable. I am lucky enough to have landed in a workplace with mentors who encourage this sort of ‘zooming out”’that makes the day to day consistently inspiring.”

—Nicole Stanton, Program Coordinator, Aspen Words

“Work/life balance is a high priority to me. A meaningful workplace is also somewhere where you are able to enjoy your co-workers on a deeper level, rather than just as colleagues. You spend more time with your co-workers than you do with your family and friends, so it’s important that you have a strong and supportive team.”

—Shannel Singh, Senior Staff Accountant, Riaz Inc.

“The ability and opportunity to take risks and have support from those in your workplace to those risks is meaningful to me. If you’re lucky enough to work in an environment that allows you to express the love you have for whatever craft you are passionate about, then allowing yourself to expand your interests with the support of others is one of the best situations you can be in.”

—Axel Cubias, Freelance Grip

“I think the relationships I build make a workplace most meaningful for me. Even if you absolutely love what you do, the people you do that with are what make your experience fulfilling. Beyond that, good working relationships are what foster support, creativity, personal growth, and just overall positivity! I also think having a deeper motive or goal makes a workplace meaningful. It would be really hard for me to work somewhere where people just go through the motions or don’t feel at least some connection to what they do.”

—Avery Geisler, Strategy Associate, Initiative

“Being comfortable in the workplace is huge. I don’t mean that I have to wear a T-shirt and jeans, but comfortable as in ‘I like the people I work with and enjoy what I’m doing.

Tech is so huge around San Francisco and start-ups are on every corner. They all do a good job of trying to create this “sexy” look to bring in employees with arcade rooms, events, and fun perks. For me, that sounds like fun, but it can easily distract from what is really important. For me, that’s a company’s values.”

—Alex Hanepen, Information Systems Intern

“I’ve spent countless hours slaving away in the service industry as a butcher and cosmetologist to realize I’m not a magician, but a killer with a knife. Now, I’m a writer for an awesome company producing work that’s not only important to me, but has a positive impact on my life. I’ve found that if you want your work to be more than a job, and instead be a positive force in your life, you need three things:

self determination: being in control of your own choices
complexity: being able to master new skills and grow
direct connection between effort and award: seeing the payoff—whether financial, spiritual, or personal

The combination of these three things made my work meaningful.”

—Lauren Padia, Technical Writer, Salesforce

“In my opinion, the center of a meaningful workplace is the creation and focus on a cohesive workplace culture; a culture in which there is an understanding of work/life balance, an understanding that life outside the office comes first, and an understanding that we no longer live to work, but rather work to live.”

—Joshua Goldsmith, Brand Manager, Mark Miller Subaru

Here’s what we learned this week from millennials.

Relationships within the workplace matter.
Open the windows. Take a walk. Sunlight and lightheartedness are essential.
Balance is key. Work/life balance, feeling comfortable enough to take risks, being supported to succeed, and the ability to constantly grow and learn.
Focus on the greater impact of your work and your core purpose as an employee. This adds meaning to everyday and makes millennials feel like they are making a difference and doing work that matters.

Next week, we will continue our “Meaningful Millennial” series, discussing what drives brand loyalty for millennials.

Emotive Brand is a San Francisco brand strategy and design consultancy

Meaningful Millennials: A New Age of Payment

Posted on February 4, 2016November 22, 2024 by Saja Chodosh

Today we are launching a new weekly series entitled “Meaningful Millennials”, where we will interview millennials on a variety of different subjects.

At Emotive Brand, because of current client work and upcoming pitches, we have FinTech on the brain. So our first week’s focus is “Payments.”

Our question: What makes payment brands meaningful to and successful with millennials?

We surveyed twelve millennials and here’s what we learned.

FinTech brands can’t just be convenient. If your brand wants to be meaningful to and successful with millennials, you need to instill confidence and emote feelings of trust and security – all while making us feel social and connected.

Millennials want tech that makes them feel like they belong. FinTech brands need to build brand environments that inspire our confidence at every touch point, promoting and driving social flow.

What these millennials have to say.

“I only use Venmo and Uber, if you consider that a payment method. I love Venmo because it makes life so much easier. I feel completely safe using it (unlike some people) and definitely think that’s where the future is headed. I imagine that in the future, wallets will only be used for IDs. Your phone will hold all your money. It’s already happening to some extent, but it’ll take time for full buying, similar to how no one has a house phone anymore.”

—Alex Morrison, Security Analyst, Goldman Sachs

“I use Venmo and PayPal. I think that they are great because they make digital transactions really easy, and make me feel connected. The downside is that they also make it a lot easier to be financially irresponsible. Also there are security concerns, but I use them anyway.”

—Ingrid Chang, Jr. Interactive Designer, 72andSunny

“I have used Venmo a couple of times, but I hate it. I am not exactly convinced that an app with as small a staff as Venmo has the capability to protect me from fraud or other forms of theft. Maybe I’m just an old man in a 23-year-old’s body.”

—Wajdi Mallat, Paralegal, Clifford Chance

“I use Venmo to even out with friends and family, and the organization I work for uses Intuit (direct deposit to employees). I love the convenience of these electronic apps and that they are paperless. Sometimes I get nervous about security. I feel like my banking info is in more places than ideal nowadays, but worth the risk for the convenience and paperless-ness. Regarding the future, more and more, finance can be handled from one’s phone, from wherever one is in that moment. The bank where I have my checking account set up doesn’t even have a branch where I live (there’s an ATM, but that’s it). I haven’t actually visited a bank in person for a couple of years.”

—Chloe Jones, Development Coordinator, The Yard

“I like using my credit card the most because it’s easy and I get rewards. Some places don’t take card so I have to write checks like for my rent, which is annoying, but it’s fine. I’m nervous to use anything hooked up to my phone that saves my card number. I used Venmo once and it does seem easy, but I still don’t trust it. I just don’t like anything online saving my card info.”

—Sarah H., Engineer, Boeing

“I only use Venmo and I love it. It solves all of the awkwardness of owing people weird amounts of money or paying people back immediately. I don’t necessarily think there is a ton of value in the social aspect of Venmo, besides being able to find friends/contacts more quickly. It’s all about convenience though and totally changes the way people use money.”

—Kunal Patel, Technology Analyst, Accenture

“I use Venmo and the Bank of America app for transfers. I don’t carry cash around ever, so I love Venmo. It’s an easy way to remind people to pay me and it’s so much easier to use when going out with a group. I like the Bank of America app for transfers for larger amounts, mainly splitting rent, groceries, etc. since it feels more secure and the people I make transfers too also have Bank of America. I like the app because I can make the transfer as soon as someone reminds me, instead of having to remember and do it on a desktop later.”

—Masha Popelyukhina, Account Coordinator, Gorilla 76

“Other than cash or cards, I use Venmo very often. I can’t imagine life without Venmo anymore. Not only does it help split payments with friends more easily, but it also gets rid of the awkwardness of reminding people if they owe you money. It also means I don’t really need to carry much cash around anymore. I do have a PayPal account, but I don’t really find much use for it.”

—Neha Nair, Associate, SKDKnickerboker

“I use Venmo frequently and have used PayPal maybe twice. I only have PayPal because I was selling a ticket on StubHub and I had to make an account if I wanted to get paid. I think Venmo is super convenient, but I only use it if I’m with a lot of people and I’m out of cash, or if it’s too complicated to split a bill. In my opinion, it has plenty of room to expand its user base, but with just an app I can’t see them making considerable headway into the customer to business, B2C or B2B spaces. If they try to, their service would be really similar to PayPal and I don’t think people would use it much. I think they’ve settled into a good niche and it serves best as an easy way for individuals to swap $$ quickly. That being said, I think in the future they’ll have a pretty similar impact, but a lot more people will have downloaded the app so you won’t even have to ask, “Do you have Venmo?” It will just be commonplace.”

—Brandon Zeiden, Financial Services, Z Gallerie

“I mainly use Venmo, sometimes Apple Pay, and then PayPal for work. I think Venmo is the most revolutionary. It makes daily life so much easier. Although, I think it does is make money less tangible. I treat my Venmo cash completely different than my debit card or cash. It often feels like an arbitrary number. Venmo sucks at keeping track of payments.

For the startup I work for, we use PayPal to pay our contractors. For the app I’m building, we use PayPal to pay our developers, but Venmo for our designers. There are no fees for Venmo and that’s huge. The designers are younger and like this.

I think a lot of people associate PayPal with eBay purchases. It’s not something I think about using every day. I know a lot of people don’t even know that PayPal has a great wallet service that is probably better then Venmo.

I find mobile wallets really interesting and think there is huge potential for the future. Someone needs to build a way that can be used widely to pay for your bill at a restaurant from your phone, and have the ability to select items, and split the bill.”

—Logan Solomon, Partner, Jacked on Joe Innovation

“I really only use Venmo. I prefer to use card or cash, but think it’s a helpful way to pay people back or vice versa. Everything in banking is becoming digitized and apps are becoming a quick, accessible, and easy way to manage your money.”

—Carolyn A., Student, Washington University in St. Louis, Missouri

Here’s what we learned from these millennials.

1. Venmo is the most popular in-app payment solution with millennials.
2. Successful FinTech brand experiences make users feel social and connected.
3. Millennials feel skeptical about security, and want brands that guarantee safety and make their money feel secure.
4. The future of FinTech will be more digital, comprehensive, connected, and pervasive.

Next week, we will continue our “Meaningful Millennial” series, discussing what makes a meaningful workplace.

Emotive Brand is a San Francisco brand strategy firm.

Millennials. Baby Boomers. Can Brands Reach Both?

Posted on February 10, 2013December 4, 2024 by Thom Elkjer

Yesterday, I heard some folks having a conversation about how hard it is for brands and employers to engage millennials as consumers and employees. The litany of popular complaints was on full display.

“They’re so spoiled, and they don’t even know it. Their parents showered them with everything and they think it will always be that way.”

“No attention span, because someone else has always run the agenda for them.”

“Superficial, just bouncing from one fad to the next.”

“No work ethic. No drive. They want work to be enjoyable – what a fantasy!”

Continue reading “Millennials. Baby Boomers. Can Brands Reach Both?”

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Tag: Millennials