At over 80 million strong, Millennials are a consumer market force today and will be even more important in the future. According to Alloy Media, the college market alone is made up of a record 16 million young adults with collective economic power of over $300 billion, $69 billion of which is discretionary. Yet economic clout is only the the most rudimentary reason marketers should be paying attention to this cohort.  Young adults today have greater influence on consumer behavior than their enormous spending power even suggests.

The main reason Millennials matter to marketers is that they indicate future trends to a greater degree than young adults in the past. Here are a few reasons why:

• Technology proficiency has empowered Millennials to weild a disproportionate influence on the culture and on the buying decisions of other generations.
• Millennials are the first to put new technologies to use to make the most of their media time.
• Gen Y’ers are less impulsive shoppesr. They place a priority on experiences rather than possessions, and are more likely to make every purchase a considered one.
• Gen Y’ers also display a distinct generational “personality” when it comes to responding to marketing programs and messages. Consequently, push marketing is on its way out, the new marketing is all about engagement, and much of the shift is due to Millennials.
• Finally, Gen Y cares more about the company behind the products they buy and the places they work. Corporate branding and brand architecture are more important than they have been in the past.

Here are a few of the Millennials trends I have been seeing lately.  I wonder how many will move mainstream?

1. TV is escaping the home. Many Millennials are talking about cancelling their cable subscription in favor of seeing shows via their Internet connection or on their mobile devices.

2. Nostalgia is Cool. Maybe it started with Toy Story 3 but Millennials are reconnecting with their childhoods.

3. Facebook Fatigue. Facebook fatigue has begun, or perhaps there are just better options now for connecting with friends. Long live text! (Until something better comes along).

5. Byte Sized: Posts are shorter. Texts are shorter. No one reads to the end.

6. Who Needs a Car? Many are forgoing a car in favor of less expensive and more environmentally conscious transportation.

7. Let’s Be Spontaneous! Last minute travel. Last minute dining. Who needs to plan? Text me!

What are you seeing? What trends are hot? What else is about to jump the shark?