Thirsty Thai millennials and the 'Reset Generation'

Allow me to elaborate on why this generation is required to “reset” in order to survive and thrive in this day and age. First, I want to shed some light on the ugly truth of today’s Millennials.
IPG Mediabrands conducted a global survey on 10,000 Millennials last year, with Thailand well represented. Unfortunately, they continue to struggle financially, having been affected by the global recession and notably the political conflicts that were prolonged for over a decade.
Half claimed they had their incomes reduced while 28 per cent lost their jobs. Startlingly, |74 per cent actually doubt that their living standards will improve in the future, compared to 31 per cent worldwide.
Thailand is going through a facelift, politically and economically, amid increasing mass urbanisation of not just people moving into the capital but also into major cities upcountry.
However, as the nation continues to struggle to find a true democratic identity, our Millennials are thriving in their pursuit to make a mark in society.
As many as 77 per cent of Thai Millennials claim that they have more choices of how to live their lives compared to the global 69 per cent. This can be seen in the rise of self-employed individuals with incomes of Bt40,000 and above to 1.2 million last year. Over 52 per cent are still single and 69 per cent still do not have children, as their time is being dedicated to improving their careers, economic conditions (23 per cent have two jobs or more), or simply, enjoying the perks of urban lives.
At least 12 per cent are likely to pursue higher education next year, as a graduate degree is seen as a ticket to career progression.
Despite the seemingly apparent contradiction, our Millennials have adaptive skills that even a chameleon would be proud of. To strengthen their case, 75 per cent actually foresee a change in their careers as opposed to 34 per cent globally, so nothing seems to be able to falter their spirits.
Technology has played a part in this social transformation with the proliferation of smartphones and increase in connectivity speed. It has empowered them to make business ownership a more accessible possibility.
More than 81 per cent of Thai Millennials own a smartphone compared to only 45 per cent globally. It has become an extension of their anatomy, which enables them to promote themselves and even creatively express their products and ideas.
You’re probably wondering how any of this relates to brands. Well, 60 per cent have claimed to make comments about the products they last purchased and 60 per cent used smartphones to aid in their decision-making.
About 46 per cent of active Internet users claim to have been influenced by bloggers and vloggers (video bloggers) to help make purchase decisions. So they are not only using technology as an outlet for creative expression but also to get input to reinforce their decisions.
This is truly an era of give and take, and brands should do their best to empathise with Millennials and involve them not just in marketing activities to meet the bottom line but also in product development and the marketing process.
And because they aspire to create a uniqueness in themselves to move away from all the social clutter, they also expect brands to be authentic and transparent as well as a reflection of their true selves.
After all, they are only a few touches of the screen away from you. So make empathy and technology count.

Pradon Sirakovit is the head of strategy and innovation at IPG Mediabrands Thailand.