Merkle, a data-driven marketing agency has released a research report, entitled 'Why Millennial Women Buy', in partnership with Levo, a network for millennials in the workplace. The report reveals the behaviors and motivations of the largest generational cohort in the market today and the most powerful purchasing segment, millennial women. This article is copyright 2018 The Best Customer Guide.

The population of millennials, which totals 75.5 million, represents a major market force in terms of buying power, spending $200 billion a year. It is estimated that millennial women represent approximately $170 billion of that market.

According to the report, millennial women are exceptionally hard workers, with 40% having a "side-hustle" in order to fund their big purchases and projects. And when making purchases, 88% of respondents cited price as a top factor in their choice, with 83% sharing that a brand's sustainability practices influenced their decision.

To win in a millennial woman world, brands must listen to their audience, craft a story that resonates on an individual level, and deliver this story across channels in a meaningful way.

The report's analysis of spending patterns of millennial women was based primarily on two sources of data, the survey of millennial women combined with Merkle's proprietary national consumer data repository, and was supported by several supplemental data sources.

To read the full report, visit www.merkleinc.com/millennialwomen.

"Millennial women want a deeply personal experience with brands, and those relationships come with high expectations. Brands need to do their own listening and take a people-based approach to their marketing and experience delivery."

"We found that millennial women do not fit many of the stereotypes other generations have imposed on them," said Adam Lavelle, chief solutions officer and global CMO at Merkle. "Millennial women want a deeply personal experience with brands, and those relationships come with high expectations. Brands need to do their own listening and take a people-based approach to their marketing and experience delivery."

"Millennial women are a forcing function for innovation, both as consumers and in their careers. They are now both chief earner and chief spender, and it is critical for brands to understand and recognize the role career plays in their consumer habits," said Alisa Leonard, President at Levo. "Brands who understand and execute upon the values of diversity and inclusion, personalization, transparent and sustainable practices and meaningful engagement will win with this audience."