Understanding the Millennial Mindset – Future Moderators
Millennials – the generation you and I belong to! The generation which has seen time turning; which has seen evolution up close. We have witnessed a leap in the field of technology to retail space, from manual to electronic advantages. That 34% of the population in India which falls under the category of young India. Millennials or Generation Y, the biggest single target segment which every brand in the world tries to capture.
Being an educationist in the field of Marketing Management, understanding consumer behavior have been close to heart. Recently Indiblogger invited me for a roundtable discussion on ‘Understanding Millennial Mindset‘. A survey conducted on the young people between the ages of 20-36 years across 15 countries by Western Union.
Western Union – A Name we all Trust
My introduction to Western Union goes back to 2006 during my Australian stint for few months. As a working professional could save some AUD and on my return to the homeland, converted it through WU. The trust and hassle-free conversion are hard to build. Westen Union is a global leader in payment services, with its presence over 200 countries. No one can deny the relationship with consumers and partners it built over all these years.
WU also provides solutions for fast, reliable and convenient ways to send and receive money around the world. It connects the digital and physical worlds and makes it possible for consumers and businesses to conduct speedy transactions.
Millennial Study – The “Globalization: A World View of the Future”.
Western Union undertook an initiative to understand consumer’s mindset, views, and opinion. A worldwide survey to understand millennials and their thoughts about the world of their future. Global citizens are connected in more than one way, the largest audience and consumer group – millennials. The world has an ever-changing dynamics and gen net has direct involvement in this shift. Youth which comprises nearly 27% of the world’s population, is a game changer today.
The survey aimed to understand the mindset of millennials on the aspects of globalization, social media. Cross-border opportunities, social significance and much more. As this was a roundtable discussion, sharing the insights of the study with some accomplished young achievers as panelists.
The Panel for the Round Table Discussion – Millennial Mindset
Ms. Sohini Rajola, Regional VP South Asia, and Indo-China, Western Union. Sohini began shared some key findings and reasons for gathering. She provided the glimpse of the study that Western Union undertook and the core reason behind it. Her message was clear – understand the mindset of generation evolved most over time.
Mr. Ankur Vengurekar, Editor of Technology at Tech2 introduced the audience to other panelists. His wit and excitement got audience and panelists wanting for more. His experience with technology and progress on social media explained a lot for bloggers like us.
Ms. Pooja Dhingra, Founder, and Chef, Le 15 Patisserie. Pooja is living her dream of becoming the world-famous Pastry Chef. Forbes India featured her in 2014 for ’30 under 30′ achiever’s list. Her macarons and cupcakes are to die for. The rapport she maintains with her patrons is open. She gladly accepts feedback on social handles or on the paper napkins in her joints.
Ms. Karishma Mehta
Founder, Human of Bombay. This young achiever has dominance over social media with her powerful social work, crowdfunding and helping those who need help the most. Her work for daughters of sex-workers in Mumbai is captured by many tabloids and media agencies. She shared her experience with anonymous donations from the world over from appeals by sharing testimonials and stories on social media. Her crow funding gained momentum and helped many kids gain education and respectable life today.
Mr. Himanshu Sehgal, Founder and Blogger My Yellow Plate – the man with the yellow plate. A traveler, adventure lover and a foodie. His yellow plate has witnessed many beautiful places so as we (with his plate). His work and plate are generic names on the likes of National Geographic channel, India Today and Lonely Planet. He shared how a ‘social-media’ post helped a local eatery from old Delhi to gain financial and moral momentum and sustain competition. It is the power of social media that is connecting world as ONE single place.
Mr. Siddharth Shahani, Co-Founder and Executive Director at Indian School of Design & Innovation (ISDI). The creator himself explained how important it is to have a day-to-day conversation across boundaries for ideas to churn.
Findings of the Study – Globalisation: The Keyword for Today’s Millennials
- Majority of global and Indian millennials believe that social media has played a critical role in uniting the world. Who better can believe in this than us, we are connected to the entire world through world wide web.
- 78% of Indians see themselves as global citizens, as compared to the global average of 57%.
- A large percentage of Indian millennials (89%) agree that living or working in other countries opens the door for better job and education opportunities.
- Highest majority at 89% of Indian millennials agree that countries need to collaborate for better future.
- 59% of Indian millennials believe that free flow of money across borders will become easier.
- Nine out of 10 Indian millennials want to have a direct say on matters of global and national significance.
The purpose of this study was to understand the demographics and choices of millennials across the globe. The pattern of their thinking and approach has huge significance in shaping the world’s future. Western Union connects people across boundaries financially, hence this study also helps in understanding what gen net believe in.
The findings for you and me –
This study also encompasses the growing need for empowering youth. Millennials comprise a huge demographics today, and their actions/ reactions signify change. National and global economic set-ups understand this demand and are progressively working to capture it. With this survey, it is quite clear that millennials today want to grow beyond the obvious. Financial and economic freedom to the new horizon of fresh opportunities.
This is something we all are living by today. Being a blogger myself, I have seen how geographic barriers are the least of concern today. We wish to reach beyond the lines of ordinary and socially connect through our work and thought process. Social Media is a great game changer and millennial are proving it is the way forward.
With this I would like to thank Indiblogger for providing me an opportunity, to be part of such insightful discussion. This discussion left me few ounces healthier with knowledge and an understanding of ‘millennial mindset‘.
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