The Millennial Mindset

Area of Science:

• Dermatology
• Patient Demographics
• Generational Marketing

Background:

• Millennials, born 1982-2000, are the largest US generation, outnumbering Baby Boomers.
• This demographic represents over a quarter of the US population and is poised to significantly impact the economy.
• They are increasingly investing in self-care and aesthetic procedures, with notable growth in neuromodulators and fillers among younger patients.

Discussion:

• The Millennial generation represents a substantial and growing segment of the dermatology patient base.
• Current medical literature lacks studies on the specific behaviors and preferences of Millennial dermatology patients.
• Insights from finance, tech, retail, and wellness sectors can inform strategies for engaging this demographic.

Key Insights:

• Millennials are outspending Baby Boomers 2:1 on self-care.
• ASDS 2016 data shows significant growth in cosmetic procedures among patients under 30.
• Understanding the Millennial mindset is key for improving patient communication and care quality.

Outlook:

• Dermatology practices must adapt communication strategies to effectively engage Millennial patients.
• Future research should focus on the unique needs and expectations of this demographic in aesthetic and medical dermatology.
• Leveraging insights from other industries can help practices connect with and serve the next generation of patients.