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Are millennials the best investors ever?
Generally, a crowdfunding investor, specially those choosing debt-based or equity investment, is someone with sufficient purchase power, regularly sophisticated and commonly with an intrinsic motivation for innovation or impact investment (be it for social or environmental reasons). Our recent research of market available data also shows that he or she is likely to be between 25 and 45 years-old.
The discussion around the definition of "millennial generation" is not in question but, for practical reasons, lets assume millennials were born between 1980 and 2000.
This puts millennials in the center of the transition to a new type of economy and sustainable future.
We have looked at millennial investment preferences and opinions, available in several different studies, and here are number of reason to believe Millennials, despite some frequent criticism of frivolity and selfishness, are well positioned to be the first genertion to place the people and planet ahead of profit:
1) Compared with older investors, millennials are likely to rate environmental, social and governance issues (ESG) as more important when choosing an investment(1);
2) 85% of millennials believe that social and environmental impacts are important factors when deciding amongst investment opportunities, compared with 70% of Gen X and only 49% of baby boomers, a recent survey from US Trust Bank of America shows(2);
3) 50% of millennials are expecting startups to overhaul banks and millennials are much more likely to invest via mobile(3);
4) the millennial generation is worth $16.9 trillion in 2015 and could be worth as much as $24 trillion in 2018 (roughly 1.5 times the size of the U.S. economy in 2015)(4);
5) 87% of millennials "are likely to check the sustainability criteria of the products they buy".(4)
6) They're "two times more likely than the average person to divest from a company that does not meet sustainability practices." (4)
Author: Nuno Brito Jorge