Download - Nick Byrne Lanie Nguyen-Johnson
Nick ByrneLanie Nguyen-Johnson
By Jayne O'Donnell
So what’s a Boomer, anyhow?
• Baby Boomers: 1946–1964• Estimated 78.2 million• 45–63 years old • Represent about 29% of the U.S. population
Move over Boomers, here we come!
• Generation Y: 1982-2000• Estimated 82 million• Most influential generation for retailers
- Bigger than Baby Boomers- Spending power - Strong opinions
Gen Y Buying Habits
• Prefer buying products that display individuality• Internet-savvy
- Gen Y spends more time surfing online than watching TV- 42% watch online videos at least once per month
• Slow websites, dismissive sales staff and free shipping that takes more than two days will turn Gen Y consumers off a brand.• Will wait just three seconds for a page to download before they click away • Processes website information 5X’s faster than older generations
Instant Gratification& Immediacy
Generation Y Parents
• Non-authoritarian• Value their friendships with their kids• Youthful, 'kid-like' qualities
Cheap or Elite
•High-End Retailers- Abercrombie & Fitch - J. Crew - Best Buy- Circuit City
•Lower-End Retailers-Forever 21- eBay
"The
moderate
segment is
getting more
squeezed."
"Girls want to buy something that's special vs. something that's kind of in the middle."
"It's not because they don't have the money but because they want to save
the money.“
High-End Gen Y Consumer
I want … by: Micky Osterman
“I want a ... midnight blue Mustang convertible.
I want to buy all my underwear at Victoria's Secret.
I want to shop at Polo (and) The Limited ... I would love a pair of
Dolce & Gabbana sunglasses. And a Coach purse.”
Micky Osterman is a 16-year-old high school student from Columbus, Ohio
Sources
YOU TUBE:• http://www.youtube.com/watch?v=CJ_6FZgLrlM
IMAGES:• http://www.236.com/images/photos/4362/original/original.jpg• http://www.thinkfresh.net.au/images/geny.gif• Professor Elton & Kaitlyn: 390 Quiz Question• http://shegeeks.net/wp-content/uploads/2008/05/generation-y.gif
ARTICLES:• Article• US Census• Ferguson, Tim. “Gen Y is Setting the Tech Agenda”. BusinessWeek. http://www.businessweek.com/globalbiz/content/jul2008/gb20080730_562367.htm. July 30, 2008.