Canada - Virtual Millennial Panel

FAMILY AND HOME MILLENNIALS

Activities and interests surrounding family are critical to this segment, with a major focus being life at home. They view parenting is an important responsibility, including the education of their children. Inside the home, entertaining and cooking takes place, along with listening to music, watching TV, reading books, watching movies, and playing games, with a family pet being close at hand.

They have interest in beauty products as well as healthy beverages which include milk products, yogurt and smoothies. While family vacations are important, saving money is never far from their minds. When they do spend money, Mastercard is their primary credit card. This predominantly female group of college graduates has a home with a mortgage, with about half of them having homes valued at $300,000+. While they are more likely to reside in either the urban and suburban areas of Ontario and Quebec, this group is most geographically dispersed throughout Canada.

Their median age is 32, their median household income is $88,000, and about one-third have an average asset value of less than $50,000 beyond the value of their home. In addition to family, work is important to them and they prefer a relaxed workplace with a flexible schedule and diverse co-workers.

FINANCIALLY DRIVEN MILLENNIALS

Having a mindset that pays particular attention to financial matters such as personal debt, retirement planning and pensions, this is a group that seeks financial advice and desires to save money but also has some ability to manage their own investments and financial portfolio.

When they do spend money, Visa is their primary credit card. They are employed full-time and their work is important to them, but they also make time for relaxation inside and outside of the home with activities such as cable TV watching, reading books, and attending live theater. These activities may be accompanied by a beverage of choice such as beer or wine. They are heavy tech device users and heavy consumers of news. They also like to keep fit and to take trips abroad.

They are primarily urban-based homeowners who, while residing primarily in Ontario and the Prairies, also are more likely to be residents of British Columbia than other Personas. They are more likely to be male, with a median age of 32 and about half are single.

They also represent a fairly large percentage (about one-third) of individuals not born in Canada. Their median household income is $105,000 and a little more than one-third have more than $100,000 in assets beyond their home. They describe themselves as a “go-getter” and are fairly eager to learn new things.

 

HEALTH FOCUSED MILLENNIALS

Being health conscious, this group is both focused on their mental health - with a keen interest in managing their stress and their sleep - and in their physical health - with interest in maintaining their fitness and spending time outdoors in activities such as gardening.

Their focus on health also extends to the health of the planet, expressed especially in concern over climate change. At work, this group seeks a flexible schedule and is comfortable with diverse co-workers.

They are homeowners, purchasers of beauty products, and fans of books and music. When they relax, their beverage of choice is hot tea or specialty coffees. This is a predominantly female group of college or university graduates who continue to enjoy learning new things.

They may or may not be married and may or may not have children. They reside primarily in the urban areas of Ontario, Quebec and the Prairies. For those with families, family time is important, as are family vacations.

Their median age is 32, their median household income is $80,000, and a little more than one-third have less than $100,000 in assets beyond their home. When they think about financial matters, saving money is at the top of their list. When they do spend money, Visa and Mastercard are their primary credit cards.

MATURE AND SETTLED MILLENNIALS

This segment represents that portion of the older Millennial audience where stability, family values, and active participation in saving for retirement take priority. The ability to enjoy activities with the family, including vacations and movies at home, is supplemented by other home-focused interests like gardening and cooking.

Many members of this segment have children living at home, so parenting and involvement in their children’s education play a vital role in their lives. Their interest in climate change issues as well as in controlling personal debt and planning for retirement reflects their desire to create a better future both for themselves and for their children.

Their work is important to them and they are most comfortable in a relaxed workplace setting. While preferring Facebook as their social media outlet, this group also desires more direct, face-to-face communication with friends and family.

They are likely to own a home with a mortgage and to have a line of credit. They have a good handle on their overall personal debt and a majority have significant personal assets available through their savings and investments. Their primary credit card is MasterCard and most of this group holds at least one other credit card.

Demographically, this group has a median age of 35, is split evenly between males and females, and resides primarily in urban environments such as Ontario and Quebec, although more than 1 of 7 live in rural settings.

ACTIVE AND INVOLVED MILLENNIALS

This segment represents that portion of the younger Millennial audience where there is emphasis on enjoying life today as well as an eye towards planning for the future. 

This group is generally socially active, whether it be taking beach vacations, dating, traveling internationally, or entertaining and cooking at home. Their eagerness to learn and try new things makes them enthusiast participants in all their chosen activities. At the same time, they appear somewhat sobered by becoming adults and part of the workforce, as issues such as mental health, stress, student debt, and struggles to maintain a strong work/life balance attest.

They have approximately $50,000 in assets and rely on others for financial advice. They have a strong desire to save money for the future, an interest in learning more about pensions, and a desire to eliminate their student debt.

They also have interest in staying fit and healthy and are looking forward to starting a family. They strive to establish a work/life balance and are very comfortable working with a diverse set of co-workers. This predominantly female group is primarily urban oriented with a very strong presence in Ontario.

They have a median age of 29, have never been married, do not own a home, and are well educated (college graduates and beyond). Their preferred credit card is Visa.