What is Generation Y? Gen Y refers to the population group in the US born from somewhere around 1976 to around 2000. Born sometime between the launch of the VCR and the commercialization of the Internet, Americans 18-34 are redefining media consumption with their unique embrace of all things digital. Nielsen has a new name for Generation Y: Generation C. That’s ‘C’ for Connected.’ Today, many of the younger Gen Y are just entering the workforce…how have we branded to them and where will they spend their money? Once we embrace the power of this generation, we can then begin to examine who they are, what makes them tick, and what they want from our businesses. Apple, Trader Joes, Starbucks, Mountain Dew, and Red Bull, have all been successful marketing to this generation.
Gen Y are “optimistic” and have a stong sense of “entitlement.” Spoiled? Maybe. However, this generation blossoms the possibility for growing strong new leaders and inventive new thinkers. We have here a group of highly social men and women who want to do something that they are truly passionate about… they want to make a difference. Gen Y doesn’t communicate the way older generations have in the past. (personal interaction, phone and e-mail.) Instead, information is exchanged and gathered through digitial and social media outlets. (texting, skyping, Youtube)
It’s no surprise they don’t read the local paper, watch a lot of TV or listen to traditional radio. It’s going to be difficult to reach them, but not impossible. Social media would be a no-brainer place to start, but other places to connect: extreme sports, social functions, music-related events, and high-tech outlets such as smart phones and ipads.
Here’s a look at what Gen Y considers before purchasing a product or service: