Though millennials are one of the most powerful consumer groups, many CEOs feel they do not understand their generational nuances, according to the 2018 U.S. CEO Outlook survey commissioned by KPMG.
KPMG surveyed 400 U.S. CEOs from companies that earn more than $500 million in annual revenues. Specifically, respondents were from organizations of the following sizes:
- Companies with revenues between $500 million and $999 million (99)
- Companies with revenues between $1 billion and $9.9 billion (160)
- Companies with revenues over $10 billion (141)
When asked about their biggest challenges for meeting the needs of millennial customers, 46 percent of respondents said one of those challenges was understanding how millennial needs differ from those of older customers and 44 percent said it was appointing senior leaders who can better relate to millennials.