Digital media is trouncing traditional channels among up-and-coming Millennials: 81% of affluent Gen-Y adults use Facebook every day—roughly double the number who read newspaper content (45%) or watch TV (44%) daily, according to a new study by L2. Moreover, 45% of such consumers read at least one blog every day.
Gen-Y affluents are 27 years old on average, and they are on a path to earn over $100,000 annually in the short term, and double that income within the next five years, according to the study.
Facebook is fundamental among Gen-Y affluents:
- Over one-half say their attitudes about brands are shaped by Facebook.
- 54% have "liked" a brand on Facebook in the previous month.
- 38% have posted a comment in the previous month.
- 30% have "shared" brands with their networks in the previous month.
Below, other findings from the L2 study titled Gen Y Affluents, based on a survey of 535 young adults.
Gen-Y affluents are both brand aware and eager to interact: Three-quarters have some affinity for brands, either "following a few good brands" (43%) or getting the "occasional brand crush" (32%); another 12% are self-proclaimed brand "devotees."
Connecting With Brands via Social Media
Women are more likely than men to engage with brands via social media: 80% of female Gen-Y affluents do so, compared with 63% of male Gen-Y affluents. Women are also more likely than men to connect with brands for special offers (38% vs. 28%) and cite brand content as a reason for engaging (15% vs. 10%).