To begin with, can you tell us more about your new study on'Millennials'?

The first edition aimed at introducing the millennial paradox that we have termed Collective Individualism - which is the desire among millennials to be unique and stand out in the peer group and at the same time have an unprecedented desire to share and belong to some form of community, both in the professional and personal context. So it can be clearly seen that this edition of the Titan Company Paradox Panel delved deeper into millennial behavior, specifically the paradox, and brought out several insight related to consumer behavior.


Do you think the youth of today are easy to understand considering their strong presence in social media ?

Today's Millennials reflect what has been termed'collective individualism'. Traditional product-based or mass marketing is unlikely to convince a generation that is obsessed with the journey, the discovery and the prestige associated with the same. This is the winner's curse; by becoming too popular (i.e. mainstream), both elements of gratification are completely removed from the equation - a fulfilling, personal search, and the chance to boost one's individual status by sharing. In short, millennial brands should strive to be popular . . . and at the same time be distinct enough and refresh their appeal from time to time.

Remaining distinctly niche or unconventional - by accident or design - is one strategy that brands can adopt to ensure the credibility and loyalty of millennial consumers. This can be further enhanced by an anti-establishment positioning; traditional icons mean little to today's 20-35 year olds, with less than 10% of India's millennials taking today's public figures as their role models1.

Personalisation is the other strategy increasingly adopted by brands and appreciated by millennial audiences. India's collective individualist generation is not merely looking for functional utility from their purchases, but a sense of identity, endorsement and prestige. For today's'screen agers' , the ability to amend, adapt, personalize and share a brand is not merely desirable, it is absolutely fundamental. Personalization perpetuates and propagates this process, and is typified by brands that allow consumers not merely to impose their personality on the product but proactively communicate the same; the very essence of collective individualism.

The attitude of a brand can be as important as the qualities of the product itself, for millennials. Millennials embrace brands that embrace them, and they respond to personal exchanges and a sense of community; 8 in 10 millennials simply want a brand to entertain them. 56%of mainstream millennials believe it's important to find brands to which they can be loyal; this perfectly reflects the more personal approach this generation takes to brand relationships. Paradoxically, millennials want to be connected to brands that both boost their social status and set them apart; again, this is the essence of the Millennial Paradox.

Could you briefly sum up the findings of the study?

The status associated with communicating and sharing each stage of the purchase process is potentially more important to India's millennial consumers than what they actually purchase, according to our research published by Titan Company's Paradox Panel.

Some of the key findings are highlighted below:

-- 43% Indian millennials shop alone - While shopping is often a solo experience, they still love to talk about and share their consumer experiences. 9 out of 10 want to share their customer experience with brands.

-- 89% of Indian millennials research online before making a purchase

-- 74% of them believe they influence the buying decisions of both their peers other generations (the highest percentage globally, according to the research)

-- 9 out of 10 rely on customer reviews for online purchases

-- 90% of millennials actually believe it's their responsibility to share feedback with companies after a good or bad brand experience

-- 68% draw their news from social media sites such as Twitter or Facebook, followed by word of mouth (63%), news websites (62%), TV (55%), radio (44%) and newspapers (33%)

-- 56%of mainstream millennials believe it's important to find brands to which they can be loyal


What are the motivating factors for the youth of today when it comes to their buying habits - any peculiarities you can share?

India's millennials have become fixated by the search for information; they are a generation of'digital prospectors' where gratification can be found not merely in finding knowledge, but in the journey towards that goal.

Despite the high immersion with online digital media, offline/traditional word of mouth dominates their research; India's millennials care intensely about what others think and this is not limited to the online world.

Another consumer trend revealed in the report is millennials' obsession with the search for wisdom; not knowledge in the traditional sense, but rather information which is compelling yet difficult to find - the more compelling the information and complex the search the greater the resulting prestige.

It can be clearly seen how Consumption, is now the number one spectator sport for India's millennials.

So, what's the best way for brands and retailers to entice this group ?

India's millennials see value not just beyond the product but in all stages of the'highly involved' purchase cycle; from the research and selection to the acquisition and the final experience. The ability to share and validate each step of the process is absolutely critical. The contradiction being that, while today's millennial consumers demand an experience which is genuinely personalised and unique, they also crave endorsement and approval at each stage of the process. Keeping this is mind; brands must remember to communicate to this audience and stay involved.