Ahh, millennials. Born roughly between 1981 and 1996, they’ve both mesmerized and mystified marketers for more than a decade. Sandwiched between skeptical, logical Gen Xers and can’t-remember-a-time-without-smartphones Gen Zers, millennials don’t respond well to a one-size-fits-all approach.

So what do we do? We create micro generations, of course! But the newest label, geriatric millennials (coined by collaboration expert and keynote speaker Erica Dhawan), set the internet on fire in 2021. Suffice it to say, Dhawan, a geriatric millennial herself, provoked a lot of her peers.

Let’s get one thing straight: We don’t love the term either. (At Wray Ward, we prefer to call these elder millennials “mature.”) But Dhawan got a lot of things right about people born between 1980 and 1985. If you’re responsible for marketing in the home and building category — and you target millennials — it’s critical to understand what makes geriatric millennials and younger millennials different.

For starters, here are three factors that influence these groups’ purchasing habits:

1. They are at different stages of the homebuyer and homeowner journeys.

Younger millennials are buying their first homes after renting for years (HIRI, 2020). They view this first home as an opportunity to express their personal style, which often drives home improvement activities within the first one to three years of homeownership (HIRI, 2020). As they purchase their first home, the desire to personalize their home leads to a higher interest in interior design, and their friends and family often look to them for advice in this area (Unity Marketing, 2020).

Geriatric millennials with a higher household income are thinking about purchasing a second home or investment property. They are seasoned homeowners but may have only recently begun making updates that communicate their personal style. More than 40% consider themselves moderate DIYers, meaning they feel comfortable with activities such as replacing light fixtures, installing flooring or even tackling full-room remodels. Accordingly, many plan to purchase products that can support these undertakings (HIRI, 2020).

2. Different factors influence their purchasing decisions.

As a generation, millennials tend to be easily influenced and may make impulsive purchases. That said, they also read online reviews and search for the best deals. They are value seekers and will often purchase from discount and department stores to ensure they’re getting the fairest price (HIRI, 2020).

But when it comes to purchasing drivers, the generalizations largely end there.

Younger millennials tend to be spenders, not savers, though they often consult family and friends before making a purchase. They value the opinions of others. In turn, they’ll pay more for a product that helps create the image they want to convey. They’re easily swayed by influencers and celebrity endorsements, and they like having the latest technology (HIRI, 2020). When shopping in-store, they wander the aisles exploring products and use shopping as a way to relax.

Geriatric millennials, in contrast, are savers motivated by low prices (despite pulling a higher average income). Higher earnings allow them to save more money to purchase big-ticket items for their bedroom, living room and home office (NPD, 2018). Compared to their younger counterparts, they are less swayed by the opinions of others. They’re also more willing to buy online if free shipping is available. Even if they ultimately purchase in-store, they first research pricing online in order to locate hard-to-find products and get the best deal (HIRI, 2020).