Millennials: the hottest demographic in marketing. Currently 80 million U.S. residents are 18-34 year olds with an annual buying power of $200 billion. Those numbers are expected to grow and grow. Yet they are a fairly elusive group, and marketers have working diligently to find out what motivates them. Rent and mortgages clearly do not.
According to new Pew Research statistics, 32.1% of millennials are living with their parents.
In 2014, for the first time in more than 130 years, adults ages 18 to 34 were slightly more likely to be living in their parents’ home than they were to be living with a spouse or partner in their own household.
Is this due to economic reasons? No, says the report. Rather, the reasons are completely out of left field. Click here to learn more about this study.