The Changing of the Guard
Millennials are overtaking Boomers as the country’s largest generation group according to 2021 ABS data
At our Annual BIG Breakfast earlier this year, we warned of the importance of speaking to future consumer groups, being our millennials and gen Zs.
The 2021 ABS Census Data has confirmed the importance of this generational shift revealing that Millennials are overtaking Boomers as the country’s largest generation group.
Although Australia is an ageing country, the 2021 census data shows us that millennials (defined as those born from 1981-1996) have finally caught up to baby boomers.
Baby boomers and millennials each have over 5.4 million people. However, the number of baby boomers is on the decline while the number of millennials is increasing through migration.
What does the average Australian look like?
• Female
• Aged 30-39 years
• Living in a coupled family with children
• Living in the greater capital city area
• An average weekly family income of $3,000 or more
To read about what this means for the retail industry, see our blog post, “It’s a Zoomer’s World, We’re Just Living in it”.