From Talking to Strangers: Millennials Trust People over Brands, to be released in January 2012:

By 2017, Millennials (those born between roughly 1977 and 1995) will have more spending power than any other generation.¹ This generation shops differently, and their preferences will shape buying and selling for all consumers and businesses.

A Bazaarvoice survey conducted by Kelton Research reveals key differences between Millennials and Baby Boomers (those born between roughly 1946 and 1964). Some findings from the research include:²

• 51% of Millennials won’t buy large electronics without finding the opinions of others online
• 35% of Millennials won’t buy small electronics without finding the opinions of others online
• When making buying choices, Millennials are less likely to trust opinions from friends and family than Boomers (56% vs. 69%), and more likely to seek out opinions from “those with most relevant experience” (44% vs. 31%)
• 51% of Millennials agree that user-generated content (written by strangers) on a company’s website has a greater impact on purchase decisions than recommendations from friends and family; only 34% of Baby Boomers agree
• Millennials are more than three times as likely as Boomers to ask for purchase opinions via social media (22% vs. 7%)
• Only 29% of Millennials and 27% of Boomers believe companies collect customer opinions because companies truly want to know what customers think

We’re releasing the full results of the survey in January. Sign up to receive the full report as soon as it's available.

1. Gen BuY: How Teens and Twenty-Somethings Are Revolutionizing Retail. 2009.
2. Bazaarvoice survey conducted by Kelton Research. September 2011.