This report states that this generation is not as frivolous as they are made out to be. Surprisingly, survey respondents from the US, UK, France, India and China all wanted to win their parents' approval, looked up to them for advice (over media, peer and web sources) and felt that sustainable corporate practices was the way forward.
Even when it comes to seeking jobs, this generation is looking to work for socially-minded brands that puts the environment ahead of profits. The report states that "Research by Experience, Inc. in the U.S. found that 81 percent of college students and recent graduates said it’s important to them to work for a company that is green-friendly, green-conscious, or green-certified. And 79 percent said that, faced with two similar offers, they would be more likely to accept a position with the organization that is greener. It may not be entirely altruistic: 67 percent of our millennial sample believe the most successful businesses in the future will be those that practice sustainability, a notion with which only 7 percent disagreed."
What's more they want to buy brands that reflect well on them, and which are innovative and cool, which asks for their opinions and considers their viewpoints, cares for the environment and gives them freebies as preferred consumers. The brands should also be showing concern for people involved in the manufacturing process as well, or else they will lose brownie points with this generation.
So now brands know the score about how to woo their potential future consumers - make it about spending with a soul and a purpose.
Graphics are from the report. See the entire report here: http://www.prosumer-report.com/blog/wp-content/uploads/2011/04/MGv16no%20crops.pdf