GENERATION Y Echo Boomers Millennials Digital Generation Generation Next
Background Born from 1979 – 1994 (60 million) Education-minded generation Family-oriented “Self-esteem generation” Technology savvy Most socially conscience generation since the 60’s Melting Pot culture
Core Values Shared life experience Advertising – major role Peers & Family Newspaper- Minimal Role
Lifestyle – past and present Victims of Sep 11- Still No Effect Open to new Ideas- Piercing & Tattoos Own Cell Phone, Play Station, DVD Player, Expensive video games Status no bar- enjoyment first Drug Use, Abortions, drinking are down
Gen Y Companies GAP, Abercrombie & Fitch Tommy Hilfiger (#1 Brand) Ahead of style curve Sponsoring Nintendo competition Deal with Mirimax dealing with teen actors New brands overtaking market staples Mudd, Paris Blues, In Vitro – HOT NOW Nike, Levi Strauss, Converse – OUT OF STYLE
Statistics Dual income and single parent households grant Gen Y buying power. Part time jobs – supplement income Spent $141 billion last year
Nature Self-centered tendencies High brand awareness Very price sensitive Consumer shop- aholics
Products/Services They want technology – and everything else – NOW! Brand preference changes frequently Bombarded with ads since birth New brands in entertainment, sports equipment FASHION – run behind fashion
Advertising Humor is key! They love to be entertained. Out of school time spent with media or sports. Fun and Status Impulsive Buyers
Preferred Media Internet is very important. TV shows forced to make websites Drives diversity Crucial for under-18 market More than 80% have access to computers Focus of Movie Industry on horror movies Eg. I Know What You Did Last Summer
Key Features For Advertisers Don’t Care About Interest Rates (Ages 21 and under) Eg. Loans, Debit cards Sell Lifestyle Like Similarity
Recommendations Obtain better understanding of Generation Y as a whole Use internet, TV, and radio as mediums Website design important Fitness Center Soon to be looking for cars, mutual funds, and first homes
SUMMARY Gen Y is a formidable force – Cannot Ignore Disposable income, 60 million strong Life Long Customers Driven by technology & Humor