Despite their shaky finances and breezy approach to workplace demands, the cohort’s strong affinity for personal fame and wealth are likely to translate into serious financial clout over time, to the tune of some $3.5 trillion by middle age. A penchant for instant gratification and customizable products, along with demand for socially responsible corporate policies and a wariness of inauthentic advertising, means that marketers must launch ever more creative, multilayered and inclusive campaigns to reach their target Gen Y segment—a daunting task considering the constant trade-offs between Gen Y adults’ frequent homogeneity in mindset and wild diversity in individual preferences.
Drawing on uniquely cross-tabulated Simmons Market Research Bureau winter 2008 survey data, BIGresearch’s monthly Consumer Intentions & Actions surveys, and government and private sector data sources, this report examines common attitudes and motivations among the Gen Y adult cohort, particularly their tendency to trust friends and celebrity endorsements in their purchasing choices, their insistence on influencing product offerings and advertising, and an accompanying blurring in their analytical boundaries between “retail” and “real life.” The report gives special attention to green and other social concerns within the cohort and their use of a wide range of social networking media to pursue their goals.
An overview of Gen Y adult attitudes and spending trends introduces five lifestyle chapters:
The Adults of Generation Y in the U.S.: Hitting the Demographic, Lifestyle ...
December 01, 2008
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