An article in last month’s Time magazine is all about the Millennials (aka. Gen Y; aka Net Generation; aka “Me-Gen”; aka the biggest generation with the most spending power sine the Boomers).
The actual magazine has many more statistics that cannot be found online, like how 92% of older Millenials (18-31) think that because they work hard, they deserve to splurge on luxury items for themselves, such as shoes, purses, jeans, sunglasses or haircare products.
Retailers need to take note: If you want to get into a boomer’s pocketbook, you’ve got to win her daughter over first. Nothing is off-limits anymore. Young adults influence 88% of household apparel purchases. It is not all about the demographic target anymore, brands need to start looking at the psychographic demographic as well.
Read the article online and find out more about how my generation is changing the way you all do things….
Fri, Mar 21, 2008
The Social Media Blog