The biggest single age cohort today in the U.S. is 26-year-olds, who number 4.8 million, according to Torsten Slok, chief international economist for Deutsche Bank . People ages 25, 27 and 24 follow close behind, in that order. Many are on the verge of life-defining moments such as choosing a career, buying a house and having children.
This generation, with its over-scheduled childhoods, tech-dependent lifestyles and delayed adulthood, is radically different from previous ones. They’re so different, in fact, that companies are developing new products, overhauling marketing and launching educational programs—all with the goal of luring the archetypal 26-year-old.
So what do the Millennials care about when shopping for jewelry? Fresh and vibrant designs, color changing gemstones which are versatile, and brown, grey and black stones representing unconventional thinking.
1 – FRIENDSHIP, RELATIONSHIPS AND LOVE.
These are the main motivations when choosing a new piece of jewellery, be it an engagement ring, a friendship bracelet, a locket pendant that encloses a message or personalized engraved pieces.
2 – SELF EXPRESSION AND INDIVIDUALITY
A drive to express one's individuality in a non ostentatious way. New visual approaches to classical designs, unconventional gemstones, coloured stones and a preference towards hand crafted jewellery by independent designers.
3 – HIGH INTER-CONNECTIVITY
The rise of digital media and especially social media challenges old style jewellery retailers to stand up to the high standard of millennials. Connection, sharing, instant feedback and the disappearance of geographical barriers are a staple of the new generation. More jewellery is bought online and instantly shared, reviewed, commented and 'liked' over social networks.