GENERATION Y

Download Report

Transcript GENERATION Y

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 IdeasPiercing & 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 shopaholics
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
http://www.allnews40.com
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