Don’t let base of the pyramid millennials catch your company off guard
Hardly a day passes without a new article on how businesses are analyzing the needs, wants and spending trends of millennials. In the US alone, millennials (or Generation Y), those born between 1980 and 2000, represent 30 percent of the population. By 2025 they will be 75 percent of the workforce of this country. The impact that millennials are starting to have on the global economy, the environment, and politics is enormous. But “millennial mania” is dominated by studies, research and marketing efforts that focus on affluent individuals. Meanwhile, in Latin America and the Caribbean a market of 77 million low-income or base of the pyramid millennials goes almost unnoticed.