millennials vs. gen-x

Strategic Research & Brand Consultancy

PREPARED BY THE SOUND RESEARCHUPDATED FEBRUARY 2014WWW.THESOUNDRESEARCH.COM

MILLENNIALSGENERAT ION X

VS

THE IMPACT OF DEMOGRAPHICS

VS.MILLENNIALSTHE LARGEST GENERATION SINCE THE BOOMERS - 9 MILLION (CANADA), 76 MILLION (US)

‣ Cultural spotlight focused on the values and behaviors that will shape our culture for years to come...

‣ Highly diverse generation - celebrate diversity

GENERATION XA RELATIVELY SMALL GENERATION - 5 MILLION (CANADA), 52 MILLION (US)

‣ Less culturally important, had to make a lot of ‘noise’ to be noticed.

‣ Generation that experienced America becoming diverse - accept diversity

COMING OF AGE

VS.BORN BETWEEN 1961 AND 1980

‣ Identity shaped by a mix of disappointment and fragmentation

- Challenger - Cable TV- Aids - Video games

BORN BETWEEN 1981 AND 1995, AGED 16-29 YEARS OLD

‣ Identity shaped by a mix of crisis and opportunity

- 911 - Facebook- Global warming - American Idol

HEROS VS REBELS

VS.COMBINATION OF CRISIS AND OPPORTUNITY CREATES A GENERATION THAT CONSIDER THEMSELVES HEROES

‣ Aware of issues facing the world‣ Highly empowered by technology‣ Highly empowered by parents and

education system

COMBINATION OF DISAPPOINTMENT AND FRAGMENTATION CREATED A GENERATION THAT CONSIDER THEMSELVES REBELS

‣ Means to be highly individual‣ Often left alone by often divorced parents‣ Strong desire to create new ‘rules’

LONG VS SHORT YOUTH

VS.MILLENNIALS DEVELOPING IDENTITY IN LONGER YOUTH CONTEXT

- Psychologists are debating whether this has resulted in a NEW developmental lifestage

‣ 20’s are now expected to be a time of exploration and deferred responsibility

- Results in more uncertainty- Results in more sound decisions

‣ Results in compressed maturity experience

- Biological clock- Guyoligical clock

GENERATION X EXPERIENCED A SHORTER YOUTH CONTEXT

- Expected to be more focused in their 20s- Did not have the opportunity to experiment to the same degree

MATURITY ASPIRING VS MATURITY ADJUSTING

VS.MILLENNIALS ARE HIGHLY MOTIVATED TO ACHIEVE MATURITY

- Long youth experience- Desire to be taken seriously and achieve their goals

‣ Results in a sense of frustration with being young... messaging around experience resonates

- Dos Equis- Old Spice

GENERATION X ARE NOW PARENTS

‣ Strong desire to remain youthful and connected to ‘cool’

‣ Results in a sense of frustration with being old.... messaging around youthfulness resonates

- Mountain Dew

GENDER DIFFERENCE VS GENDER EQUALITY

VS.GENERATION X CELEBRATED GENDER EQUALITY

- First generation for whom males and females were becoming equal- Girl Power!- New man!

‣ As a result, unisex and androgyny were key trends

- CK One

FOR MILLENNIALS GENDER EQUALITY IS A GIVEN

- To celebrate this seems almost pointless...

‣ Rather Millennials are looking to differentiate

- Witness more traditional fashions and interests

- The Retrosexual a key trend

HOOK UP VS GET DOWN

VS.MILLENNIALS HAVE REPLACED DATING WITH HOOKING UP

- Casual and no commitment

‣ “Friends with benefits” highly common

‣ Technology allowed relationships to become intimate before even meeting

‣ Strong desire to return to more traditional dating as a result!

GENERATION X ARE JEALOUS OF MILLENNIAL HOOK UP CULTURE!

‣ Dating and sex shaped by fear of Aids

‣ Gen X more likely to have settled relationships... or spent their youth dancing instead!

NETWORK VS CLIQUES

VS.MILLENNIALS EMBRACE DIVERSITY IN EVERY ASPECT OF THEIR LIVES

‣ Diverse group of friends seen as essential

‣ Different skills strengthens the group

‣ Many adopt different roles in different friendship groups

GENERATION X GREW UP INTENSELY EXPERIENCING THE TENSION BETWEEN BELONGING AND BEING INDIVIDUAL

‣ Generation X grew up striving to be part of the popular cliques

FUTURE PRESSURE VS PEER PRESSURE

VS.GLOBAL STUDY BY MTV REVEALED THE NUMBER ONE CONCERN OF MILLENNIALS RELATES TO THE FUTURE AND ACHIEVING THEIR AMBITIONS

- And the only thing that can stop them is ‘themselves’

- Future far more important than being popular, having the latest things, having sex etc.

‣ Success defined by ‘doing something they love’

GENERATION X WERE DEFINED BY PEER PRESSURES

- Less opportunity and sense of entitlement than Milllennials

‣ Success more likely to be measured by $$$...or by having a different life to their parents!

TECHNOLOGY OBLIVIOUS VS TECHNOLOGY ADOPTERS

VS.MILLENNIALS HAVE GROWN UP DURING THE INTERNET REVOLUTION, EVERY ASPECT OF THEIR LIFE IS ENTWINED WITH TECHNOLOGY

- Digital Natives

‣ Find it almost impossible to talk about technology and the impact it has on their lives

GENERATION X GROWN UP AS TECHNOLOGY EMERGED, NEEDED TO LEARN HOW TO USE IT

- Digital Adapters

‣ Able to talk about how technology has changed their world

‣ Nostalgic about times when technology wasn’t all pervasive

EXPRESSIVE SOCIETY VS SECRET SOCIETY

VS.MILLENNIALS HAVE A CURATED IDENTITY

- Develop and manage their identity on line- Friends, interests, aspirations all on social networks for all to see

‣ Very happy to reveal almost all their secrets to almost anyone...

GENERATION X VALUE THE UNDERGROUND, SOUGHT TO KEEP THEIR CULTURE SECRET FROM MAINSTREAM SOCIETY

- No Logo- Extreme sports

‣ Developed their identity in more traditional ways

- Cliques- Brands

HEALTH AWARE VS HEALTH CONCERN

VS.MILLENNIALS ARE THE MOST HEALTH AWARE YOUTH GENERATION EVER

-Access to information through the internet and education

-Also highly concerned about sustainability issues...

‣ As the recession hit, brands with health benefits were one of the few areas they refused to compromise on

GENERATION X WERE LESS AWARE ABOUT HEALTH WHEN THEY WERE YOUNG

- Less aware of the impact of processed food, additives etc.

‣ Now into their 40s becoming health concerned

- Switching to low calorie products- Actively looking for healthy and more natural options

PASSIONATE IRONY VS JADED CYNICISM

VS.MILLENNIALS VALUE HAVING PASSIONS AS HIGHLY IMPORTANT

‣ Highly positive generation, believe they can make a difference

- Empowered- Reject Generation X rebellion

‣ Combine being passionate with a sense of irony

- Communication with ‘a knowing wink’ engages...

GENERATION X DEFINED BY PERVADING SENSE OF CYNICISM

- Question institutions- Challenge brand involvement in their culture

AUTHENTICITY VS COOL

VS.FOR MILLENNIALS AUTHENTICITY IS THE NEW COOL

- Authenticity = true to self

‣ Engage with brands that deliver a sense of authenticity

- Heritage- Originality- Imperfection

GENERATION X ARE MORE LIKELY TO BE CONCERNED WITH ‘COOL’... A QUEST FOR THE NEXT BIG THING

- Exclusive- Underground- Rebellious

TARGETING MILLENNIALS

& GEN X?

TARGETING MILLENNIALS & GEN X

SUCCESSFULLY TARGETING GENERATION X VALUES MAY WELL ALIENATE MILLENNIALS... AND PROBABLY BOOMERS TOO!

MILLENNIALS ASPIRE TO THE MATURITY OF GENERATION X

- Career- Relationship

Millennials do not aspire or relate with the values of Gen X

- Rebellion has no relevance- Cynicism is rejected

GENERATION X ASPIRE TO THE YOUTHFULNESS OF MILLENNIALS

Generation X also aspire to the values of Millennials

- Passion- Desire for change