Studies show that the 83 million millennials possess $1.3 trillion in annual buying power, and are set to inherit $30 trillion more from their Generation X and baby boomer parents. Thus, Fortune 500 companies have been investing heavily in marketing to millennials. These companies are complementing their “core” business model and trying to tap into the now-largest population in the U.S.
Fast food giants are adding healthy items to their menu, automobile companies are offering energy-efficient cars, and traditional media outlets are transitioning into the 140-character world. The only problem is that reaching the 83 million members of the “selfie” generation can be a difficult proposition. They are the first generation not following the script of education, marriage, house and then family, leaving marketers perplexed.