A major effect of globalization is one that occurs on the self-concept. This is especially the case for young consumers, and particularly for millennials. Despite this cohort’s idiosyncrasies, little attention has been paid to the study of their consumer identities, an important aspect of self-concept. The current research addresses this gap by examining the way millennial consumers’ global and national identities help explain two attitudinal outcomes associated with globalization: materialism and consumer ethnocentrism. Data were collected from millennials in two distinct socio-cultural contexts. A key finding suggests that distinct contexts (i.e., collectivist and ethnically homogeneous vs. individualistic and ethnically diverse) exhibit differences in the formation of materialism and consumer ethnocentrism among millennials. Additionally, results indicate that for similar consumer segments, each context’s configuration of millennials shows differences in global and national identities. Implications for future researchers and practitioners are discussed.