More on Generation Y

In a recent post we discussed the members of Generation Y.  These are the sons and daughters of the Baby Boom generation, born between 1982 and 2000.  In an article called Gen Y sits on top of the food chain in today’s issue of USA Today, writer Jayne O’Donnell gives us more insight into this powerful demographic.

Online marketing expert Kelly Moony has researched this group and found some interesting things.  One is that they’re turned off by slow web sites, dismissive sales staff, and free shipping that’s too slow.  That’s probably true for most of us.  The difference is that these young people will express their unhappiness on their MySpace page, in Instant Messages, and on their blogs.  If you turn one of them off, you run the risk of alienating an entire generation.  She finds that they want merchandise that’s either cheap or elite, something that we’ve discussed here previously, too. 

Moony says that Y’s are more savvy than they’re given credit for and "in some instances they think they know more than the person selling them something."  I’d have to disagree slightly.  In some cases they do know more than the person selling them something.

Consumer psychologist Kit Yarrow is quoted as saying that these young consumers have an "equal vote in the look and style of the family."  No argument there.  My two "Y’s" definitely influenced my recent car purchase.  (My daughter has better taste than I do and my son knows more about cars.)

The bottom line is that this group of young people has money to spend now and will have a lot more to spend in years to come.  They know what they want and they know how to get information.  We’d better pay attention to them.

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