Roth MKM Releases Survey Insights on Millennial Consumer Habits
Newport Beach, CA, March 14, 2023-Roth MKM, an investment bank focused on advising and financing growth companies, announced the release of its 2023 Millennial Survey, a proprietary survey examining current trends, spending patterns and favorite brands across eight consumer categories. The survey, conducted in partnership with MFour Mobile Research, features 279 questions and was completed by 2,500 Millennial-aged women and men.
“Health & wellness and convenience have become more important for Millennials since the Covid-19 pandemic. Consumer brands that have adapted to these changes will continue to command premium valuations from institutional investors and strategic acquirers”
Key findings from the ROTH MKM Millennial Survey include:
* Over the last 12 months, 45% of Millennials have started purchasing more private label goods in place of branded ones
* 76% of Millennials have reduced their discretionary spending behavior due to higher prices for everyday and non-discretionary goods
* 28% of all Millennials who purchase items online have signed up for auto replenishment or subscription items on Amazon
* 53% of Millennials are more likely to buy directly from the manufacturer if personalization is available
* 40% of Millennials who have purchased furniture purchased their last furniture or home goods product online and had it delivered to their home
“While Millennials continue to revert to more normal post-pandemic behaviors, they are clearly feeling the pinch from inflationary pressures that are evident across the consumer landscape. Our survey shows that Millennial consumers are still willing to spend on innovative brands, products, and services that tailor offerings to meet their unique needs,” said Matt Koranda, managing director, senior research analyst at ROTH MKM.