AIM is a leading authority on the generational group known as Millennials, or Generation Y. AIM began watching Millennials as they emerged as a force in the early 80′s as babies, and is now studying them as they move into their first homes. In addition to learning about their current living conditions, AIM also examines Millennials’ hopes and dreams for their future homes.
Millennials are the second largest generational group in the US, and are on track to become the largest. Currently, they are the individuals that are between 10 and 29 years old. This group is so interesting to AIM because early Millennials are becoming home owners and renters. Over 35 million are already in the home initiation phase, and that number is growing every day. The remainder of the group will enter that phase over the next 15 years. Millennials also hold tremendous purchasing power. They control over $350 billion in purchasing power on their own, and it is estimated that they hold an additional $1 trillion in total purchasing influence. At AIM, we see how vital it is to understand this group. Millennials are both the future of business and the greatest potential of today.
Beginning their lives as the protected ”Babies on Board,” experiencing 9/11 as they grew up, and living through the Great Recession and challenging economy, Millennials have gone through many unique experiences that have shaped them as a group. While every Millennial is different, the group shows definite trends and preferences that influence their actions and purchasing decisions. AIM seeks to know as much as possible about this group, from what has made them who they are, and how they continue to develop and grow.
Due to AIM’s interest in Millennials, they embarked on a major fact finding mission to learn more about Millennials and the home. In April 2010, AIM published the groundbreaking MILLENNIALS At HOME study. Consulting secondary research as well as conducting their own primary research, AIM discovered the tendencies, preferences, and thoughts and feelings that Millennials have surrounding the home. MILLENNIALS At HOME goes beyond the physical home and extends to the intangible elements that make a house a home; the key elements that are important to Millennials are also discussed and examined.
AIM has continued with ongoing research every day since the publication of MILLENNIALS At HOME. From focus groups, to in-depth interviews, to quantitative surveys, to interacting with Millennials through facebook and blogs, AIM is on the pulse of what Millennials want. AIM’s Millennial Movers panel is made up of over 500 Millennials from around the US. The Movers panel is always AIM’s first contact when studying a particular issue with Millennials and has proven extremely useful to receive quick, honest, and informative feedback. Finding what makes Millennials tick is one of AIM’s primary goals, and they are always looking for the next new, innovative way to connect with them.