Confirming what many already believe, having the latest in technology is high on the agenda of millennials, says a new study by Visual Capitalist.
The company surveyed 3500 millennials about their favourite brands in the past three years and unveiled the top hundred in a chart. With the top seven of 10 tech-related, the results clearly display the prioritisation of digital purchases, as well as growing loyalty to specific brands.
The top 10 favoured brands for millennials sit as follows:
- Apple
- Nike
- Samsung
- Sony
- Microsoft
- Target
- Amazon
- Walmart
- Coca-Cola
Most notably, social media companies did not make the top 10, nor the top 50, with Facebook placed at 65. Other tech-related companies to make the final cut include HTC at 48 and Netflix at 72.
It’s not hard to see why rating on the top 100 is important for brands, with B&T predicting the millennial market will hit $US1.4 trillion in spend in 2020 in the US alone. The generation makes up 30 per cent of the total retail spend in the nation, with the Australian contingent estimated to reflect a similar figure.
