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Techno-Savvy Millennials : A Booming Consumer Segment of India

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Dr. Reetika Jain1

Abstract

PURPOSE OF RESEARCH:

Consumer market segments are continuously defined and redefined with the changing needs, buying patterns, media
exposures, and unparalleled invasion of technology in consumers' lives. Millennial and Generation Z are the new booming
consumer segments that are attracting the businesses. Presently, they are one of the most connected consumer segment.

Whereas Generation Z are the consumers born after year 2000, millennials are those born between 1980-2000. Firms are
therefore, tapping millennials who happen to be more independent as of today as compared to Generation Z. Studies highlight
that this segment is characterised by avid researchers, information seekers, rely on peer reviews, more active on social media and
blogs. In this digitalisation era, it becomes quintessential to tap this growing unexplored segment especially with digital
marketing strengthening its roots in India.

RESEARCH METHODOLOGY:

Present study explores the pertinent secondary data from some crucial consumer market reports to provide an insight into the
buying behaviour of millennials in India vis-à-vis global millennials. It is also compared with the behavioural pattern of
millennials globally.

RESULTS AND IMPLICATION:

The study provides consumer industry an insight into the peculiar behaviour of Indian millennials. It is evident from the studies
that this segment of consumers is a booming one given the large population of India. They are also the most digitized consumer
segment. Thus, it is a win-win situation for the companies given the size of this segment and the digital boom in India. Study
also discusses the strategies for the businesses to harness the full potential of this untapped market.

Keywords: Indian Millennials, technology, consumer market segment, digital marketing.

1. Assistant Professor, Hansraj College, DU, reetikajain29@yahoo.com

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Table 1 : India Millennials as Percentage of Total Population

Year % of Total Population
2016 31
2018E 33
2020E 36
2025E 42
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Table 2 : Devices used to access Internet

Devices used % of time spend online

Smart phones
Laptop/ Desktop
Tablets
Source: AlphaWise, Morgan Stanley Research
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Table 3 : Activities on which India Millennials Spend Time Online

Activities % Time spend online

Email/ Social media 35
Browsing 23
Entertainment (music/ vedios) 30
Transactions (including banking) 12
Source: AlphaWise, Morgan Stanley Research

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Table 4 : Criteria Indian Millennials Use to Buy Online
Criteria
Buy low cost
Buy regular product/ brands
Buy on basis of best review but within budget
Buy on the basis of good review
Buy new product on some trustworthy recommendations
Source: AlphaWise, Morgan Stanley Research
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