COVID’s Impact on Millennial Marketing for Direct Mail
Join COO Liran Kapoano and CEO Joel Dickstein as they discuss the shift in millennial homeowners during the COVID pandemic – and what this new audience can mean for direct mail.
2 minute read
Video Transcript:
0:00:00 – 0:00:24
LIRAN: The big knock on millennials was, “Oh, they don’t buy houses, they live in their parents’ basement. And they have 100 roommates and they’re delaying their lives.” And that’s true. A lot of millennials did delay, you know, what would be traditionally, you know, the stages of life, but that all started to change around the time when COVID happened.
0:00:25 – 0:00:53
People have more disposable income. People suddenly got sick and tired of sharing, you know, a refrigerator with seven people who were afraid of getting sick and they don’t want to be trapped in their own room for an entire year. And so, you know, there was some and there was also some government stimulus. And so there was this big wave of people in 2021 and 2022. Who created new households. There is a record number of new household formation during that time period.
0:00:54 – 0:01:16
The traditional American mailbox for the house is, you know, about that big and that wide and you could ft a ton of stuff and it’s big enough to fit an Amazon box. Nobody’s putting an Amazon box in your typical apartment mailbox. And so a lot of people would just bypass the stuff in their mailbox. They would just go to there like once every week or two and just take it all and chuck it right in the trash.
0:01:17 – 0:01:58
Right? But now a lot of those people are now living on their own or with families. And, you know, and you see that also in rental prices.
JOEL: Yeah.
LIRAN: Right? It’s not a coincidence that as all these new households were formed. Right? Where people were shifting in ’21 and ’22 into buying houses. All of a sudden rental prices are coming down because there’s not as many people renting as there were. And there’s more and there’s the other part of that, too, actually, which not a lot of people are talking about. But the new apartment buildings that have been built also have better amenities and better mailboxes and it’s not like the type of thing they installed in the fifties and sixties when a lot of the apartment buildings were built.
0:01:59 – 0:01:58
If you want to learn more: visit dksmo.com
Recent Posts:
Contact
Learn more about how direct mail marketing can revolutionize your business.