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Gen Y sits on top of consumer food chain Adam Goode Ryan Barnes
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Gen Y > Baby Boomers 1982-2000 Gen Y is bigger than Baby Boomers 82 million people Strong spending power and opinions at an earlier age 13-21-year-olds influence 81% of apparel purchases and 52% of car choices Parents want to be friends w/ kids & prize own youthful qualities
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Gen Y habits Slow websites, long shipping, and dismissive staff turns them off to a brand Cheap or elite More Savvy Thrift shopping
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Online shopping Instant gratification – 3 seconds or gone Process website info 5X faster No distinguishing between “this is the store” and “this is the website” No forgiveness
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Recent findingsfindings Gen Y influences 90% of apparel purchases in their homes Purchasing premium brands increased 33% in 2011 Gen Y spending power is almost 200 billion 93% of adults under 30 own a cell phone Only 80% over 30
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Discussion Does anyone shop at thrift stores? Did you have any influence on the cars or clothes in your household?
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Sources http://thenextweb.com/socialmedia/2012/01/21/number- crunching-the-top-51-stats-for-generation-y-marketers/ http://thenextweb.com/socialmedia/2012/01/21/number- crunching-the-top-51-stats-for-generation-y-marketers/ http://www.destinationcrm.com/Articles/Editorial/Magazine- Features/Gen-Y-The-Next-Generation-of-Spenders- 79884.aspx http://www.destinationcrm.com/Articles/Editorial/Magazine- Features/Gen-Y-The-Next-Generation-of-Spenders- 79884.aspx http://www.forbes.com/sites/lydiadishman/2012/02/20/where- gen-y-will-shop-in-2012/ http://www.forbes.com/sites/lydiadishman/2012/02/20/where- gen-y-will-shop-in-2012/ http://blog.kissmetrics.com/generation-y-statistics/ http://blog.kissmetrics.com/generation-y-statistics/
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