Millennials @ 27% of Population = Largest Generation, USA... Spending Power Should Rise Significantly in Next 10-20 Years Population by Age Range, USA, 2014 Household Expenditure, Annual Average, by Age of Reference Person, USA, 2014 70 $70 60 $60 Millennials ) K 50 $ $50 ( e ur (MM) 40 t $40 on ndi i t pe a 30 x $30 E opul l P 20 $20 A nnua S A U 10 $10 0 5 5 $0 5 24 34 44 54 64 74 5 34 44 54 64 74 7 <1 o o o o o o >7 <2 o o o o o > 5 t 5 t 5 t 5 t 5 t 5 t 5 t 5 t 5 t 5 t 5 t 1 2 3 4 5 6 2 3 4 5 6 Source: U.S. Census Bureau “2010-2014 American Community Survey 5-Year Estimates”, Bureau of Labor Statistics “Consumer Expenditure Survey 2014” Note: Millennials defined as persons born between 1980 – 2000. There are varying opinions on what years each generation begin and end. KPCB INTERNET TRENDS 2016 | PAGE 59