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Millennials and the future of BRIC markets

Pollution, food safety and climate change stand out as major concerns for China’s millennial generation, a demographic that in China exceeds the total population of the USA.

In a wide-ranging study of millennials in the BRIC nations, JWT has examined the generation that it says will define the future of these four key markets of Brazil, Russia, India, China.

“Meet the BRIC Millennials” spotlights findings from a study of 18 to 35 year olds that explores themes in the context of millennials globally, including personal finances and employment, stress, changing gender roles, social good and social media.

“Young Brazilians, Russians, Indians and Chinese have come of age during a unique time, experiencing unprecedented growth and change, as well as a worldwide slowdown,” says Ann Mack, director of trendspotting at JWT.

“Many of their values and viewpoints overlap across markets—much more so than their elders—but in some instances they diverge significantly, depending on culture and context.”

While China is raising its profile on the world stage, the study notes Chinese Millennials feel obligated to help forge a better world for future generations.

The study shows 88% of Chinese millennials believe their country can effect change in the world.

Close to eight out of 10 of those interviewed say they care more about improving the world than other generations, with 90% of Chinese respondents saying “people my age are thinking less about ‘me’ and more about what ‘we’ can do together to address global issues.”

Timothy York, head of strategy planning at JWT Shanghai,  argued China’s millennials are in some ways more similar to other BRIC Millennials than to previous generations of Chinese.

And while they are generally more liberal, parental and cultural influences remain.

“They are not becoming westernized; instead, they balance the new and the old in a uniquely Chinese way,” he said.

“It is vital for marketers to understand this as the number of Chinese Millennials exceeds the total population of the USA.”

 

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