— This is the script of CNBC's news report for China's CCTV on July 14, Tuesday.
Welcome to CNBC Busines Daily, I'm Qian Chen.
The Baby Boom generation has been a major force with significant influence on purchasing power.
Now, it's time to meet a new face.
Born between the early 80s and late 90s, millennials came of age together with the digital revolution...
And now they are emerging as the dominant consumer.
With the Gen-Y dollar expected to be the driver for major economies, Emily Tan finds out what it is that millennials really want.
CHARMAIN TAN IS YOUR TYPICAL MILLENNIAL… She wakes up to notifications and messages.
On her way to work, she reads the news online.
And outside of work, SHE MOSTLY SHOPS ONLINE… with a few swift clicks
[Charmain Tan // Co-Founder, Pear Comms] "08 17 37 All these where can you find them, on the phone literally just on the web. So all information is in your hand. So be it whether you want to buy something, whether you want to connect with people. Even for myself when i'm working, I realize that at the end of the day I don't have to be exactly in my office, but I can always be working wherever I am. 08 17 56"
THIS IS THE GENERATION THAT GREW UP in the internet and smartphone age - in a inter-connected world with information at their fingertips. 120919
[Radhecka Roy // Global Lead, New Product Development Business, Ipsos] "13 59 00 They see a lot more opportunity. They want to achieve things much faster, and there's a lot more of self expression that's come through. And I think the internet and social networks have quite opened up and liberated them, taken away a lot of constraints. 13 59 17"
[Porush Singh // Senior VP, Core Products, Global Products & Solutions, Asia Pacific, MasterCard] "12 11 09 They want people to understand their emotional, technological and functional needs. They want to be able to influence things, so they are very globally connected.12 11 20"
(GFX-mastercard research on Asia Pac millennials w %)
MasterCard FORECASTS that by 2017, Millennials will have more spending power than Baby Boomers. CURRENTLY, their annual spending power exceeds $200 billion and they also influence an ADDITIONAL $500 billion in purchases. 120936
SOT - spending "porush sot 2"
[Porush Singh // Senior VP, Core Products, Global Products & Solutions, Asia Pacific, MasterCard] "120741 P: We believe it's gonna keep on growing at about 12% to 14% going on. Much higher, obviously, in the Asia Pacific region where the entire population tends to be younger, especially in our larger markets.12 07 55"
WHO'S WINNING WHEN IT COMES TO WOOING THE MILLENNIAL DOLLAR? THAT ANSWER IS PRETTY CLEAR. 120946
[Radhecka Roy // Global Lead, New Product Development Business, Ipsos] "13 57 50 It's more about access rather than owning now. 13 57 53 ***CUT TO*** search "ipsos sot 3"(VO: Uber/AirBnB)"
"13 58 04 Uber is a very good example. When I want to go somewhere, I need transportation. This is a smart way of moving around, in a easy way, airbnb, these are all things that give them access without them having to invest too much money or having them to buy something. 13 58 20"
[Porush Singh // Senior VP, Core Products, Global Products & Solutions, Asia Pacific, MasterCard] "120657 Well, people assume them to be impulsive shoppers, they're actually frugal shoppers. They're very particular about making sure that they have researched it well, whether physically or online. And at the same time, make sure that they get the right price-value equation. The only time we find them being impulsive on spending is when it comes to tablets and smartphones. 120719"
AND IT'S THE SMARTPHONE THAT WILL BECOME THE KEY BATTLEGROUND FOR BRANDS. 120953
[Radhecka Roy // Global Lead, New Product Development Business, Ipsos] "13 53 19 The sensibilities that appeal to millennials are different. So you have to be...What will make them like something and share it, share the content. So, the focus is on that. So, use of humour, use of cheekiness, and yet communicating the brand message 13 53 34 ***CUT TO*** search "ipsos sot 5"(VO:??? )"
"13 55 53 So, there's a lot of co-creation or user generated content that they are skewed to. Typical ads that we look at, the TV commercials, that will change. 135603"
[Charmain Tan // Co-Founder, Pear Comms] "08 18 36 When I see a product that I really like and groupon is having a discount for it, it definitely caught my attention. 08 18 41"
WHETHER IT'S MUSIC streaming, OR online shopping ..IT'S CLEAR THAT THIS GENERATION IS CONSUMING IN A WHOLE DIFFERENT WAY. AND GETTING THE RIGHT MESSAGE OUT IS CRUCIAL TO CAPTURING THE MILLENNIAL'S MIND.
EMILY TAN, CNBC.
Startups like Uber, as mentioned earlier, are not the only players in the game of the sharing economy.
Big international giants, to name a few -- BMW, Ford and GM -- have all launched their car sharing services as well, in order to catch up with this emerging generation.
CNBC's Qian Chen, reporting from Singapore.
A1: Yes, it definitely wasn't easy to digest that French Open final loss, but I lost to a better player and I had to congratulate him. But what I've learned over the years in tennis is that you learn to leave behind what happened, you reset and move on and find a new motivation to win a trophy and luckily for me Wimbledon was just around the corner. When I played the first point as the first point here at the tournament as the defending champion, I understood that this is where I belong and I need to try for another trophy. Being here a couple of weeks later I'm here with you talking to you about the victory, that's pretty incredibly, the third title actually feels like the first one to me. It is always so special to win Wimbledon.
Q2: Is this your best level yet?
A2: It's probably my best season. 2011 was so far the best season results wise, but this year has been incredibly with my marriage as well and fatherhood. I'm just completely satisfied and a happy person. I'm at the peak of my career and my life and I try to be grateful and nurture every second of it.
Q3: You've now got 9 Grand Slam titles. Federer has 17, Nadal has 14, you're still not close to that but I just wonder what else you want to achieve, you've really dominated the game over the last 2 years. Is Paris the missing piece of the puzzle?
A3: Well it is, but then again I don't want to direct all my attention and focus to the tournament that I haven't managed to win. I've had so much success. 50 titles, 9 Grand Slams, Davis Cup, a medal from the Olympics. I've had a career that I always dreamed of having and never knew I could achieve so much. I'm only 28, I'm still young and I want to keep going and hopefully one day I'll be able to win Roland Garros too.
** CUT TO **
Q5: Finally, we are a business channel. You've added another 2.9 million dollars to your prize account. How do you invest it? Stocks, bonds, real estate? Do you know where it goes?
A5: I do, I do. But I also have a big group of experts who deal with it and we'll talk about it, but in the last 5-6 years I wanted to be more conservative with my investments, I want to build a nice capital, and then think about the ways I'm going to invest it. I'm very much into sport science, food, beverage. These are fields where I look for investments.