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Generation Y: Who Are They? Born during the period 1978-1994, the Gen Y's, 71-80 million strong, now comprise 30% of the US population, a group larger than the Boomers and more than twice the size of the Gen X sector. Not since the first Baby Boomers began their teenage years have so many Americans been adolescence: Now almost half of the Boomers’ 71 million children are teenagers, making them the largest teen population in US history. Like their parents, members of Gen Y compose an enormously powerful group that has the sheer numbers to transform every life stage it enters. (Morton) According to industry trade publication, Advertising Age, "marketers traditionally defined kids as ages 6 to 12...Today, there are at least six recognized youth segments: ages 6-8, 9-12, 13-15, 16-18, 19-21 and 22-24.” Most marketers carry a distinct bias with respect to kids' buying habits and motivations. Some project Gen X behavior to the Y's, an obvious mistake since the personality of either group could not be more distinctive or different from the other. Worse still, many marketers tend to "project back" or interpret current teen behavior based on the filter of their own experiences when they were that age. In reality," the interests of each (teen) age group are now in flux" notes Advertising Age. "A teen, a youngster between ages 9 and 12, will have markedly different interests today, than a teen had just a few years ago." A number of factors are at the root of this acceleration process including "access to influences and information, working mothers and the speed with which trends move across the country." The Unifying Elements They're being called the "next greatest generation" primarily because they share many of the attributes of the World War II generation. For the baby boomers, their generation’s most significant markers included the Great Society, general economic prosperity and the expansion of suburbia, President Nixon, color television and sex, drugs and rock ‘n’ roll. However, for the Yers, the experience is quite different. Some of the generation markers for them include, but are not limited to, 9/11 attack on the World Trade Center, AIDS, divorce, MTV, Sony Playstation, crack cocaine, the PC and the Internet. Many Yers have lived through the trauma of change-parents’ divorce, corporate downsizing, limited financial aid, weak job market- and these are part of their psyche, just as the Great Depression marked the consumer behavior for the children of the 30’s and the Vietnam War and well as the Civil Rights movement marked the behavior patterns for the Boomers. The Generation Yers also hold a characteristic that is unique and solely theirs: they are culturally and racially diverse. More than one third of them are minorities compared to the 27% of the total American population. Also, 25% grew up in a single family household, with 75% having had a working mother. As a result, this generation has a greater tolerance for diversity and ethnicity in all their areas of life. As The New York Times points out, they're idealistic. “95% indicate that spending time volunteering or helping people is very or somewhat important. 50% actively participate in volunteer work in their communities.” They're also patriotic. “79% consider themselves to be such. In fact, 68% say they would be willing to make a personal sacrifice for their country.” Their patriotism, however, is not the flag waving type of their parents and grandparents. As Arthur Mitchell, Director of Strategic Planning for Campbell-Ewald notes "theirs comes from a nuanced appreciation of the US for the unique freedoms it offers… freedom to be whom and what you want to be…a place where even a Dennis Rodman can live happily ever after." Generation Y take their education seriously. Because of their intuitive understanding that their futures will be tied to an education, it makes sense for them to take it seriously. Generation Y are said to be the best educated generation in American History. As such, 87% want to go to university or college (Wolburg). They also possess a stronger moral compass than their parents. "Trustworthiness," "determination" and "honor" are of great importance to this group, understandable, given their constant exposure to the frailties and ills of today's society with its 60% divorce rate and a political ruling system that rewards and encourages hypocrisy and deceit. Optimism also prevails. Although they fear being left behind, 87% are still optimistic about their future (Campbell-Ewald Youth Research.). In the 9-17 age group, 69% view owning their own business as a sign of success (versus 34% for adults). This is a generation that firmly believes that it can have it all from personal happiness to career advancement to material success. Generation Y and the Media Having grown up in a more media saturated, brand conscious world than that of their Boomer parents, these are marketing-savvy folk. They know the marketer's tricks. Therefore, they don't have the patience to waste time with a product or message that claims to be something that its not. And if in doubt, they can easily go to the web to validate the claim and verify the truth. But even though they know they're being marketed to, they're accepting of the fact as long as the marketer tells them the truth: Analysts believe that the years of intense marketing efforts aimed at Gen Yers have taught them to assume the works about companies trying to coax them into buying something. Advertisements meant to look youthful and fun may come off as merely opportunistic to the Gen Y consumer, as Pepsi Co’s “Generation Next” campaign was viewed. Analysts believe that Gen y responds better to humor, irony, and the “unvarnished” truth. (Wolburg) What they value more than anything else is authenticity. While they view advertising as fake, it is all right and bearable as long as it's fun. Also, 71% agree that advertising is still the best way to learn about new products. The problem is that teens are being given more adult responsibility particularly in households where both parents work. This can encompass buying the groceries as well as voicing an influential opinion on the next auto purchase for the family. While this generation is still in school, many are holding down jobs, contributing to the family finances and sharing household chores. It is important that parents and marketers as well realize that their opinion must be taken seriously. The marketing lesson to be gleaned from the data and trend information is a simple. It is essential get to become acquainted with this vast generation now and not when it's too late. Gen Y's will have long memories. Loyalty to person or product will therefore be one of the defining elements of their personality and ultimately their buying behavior. (Neuborne) Though the exact age range defining Generation Y varies, most sources agree that, at this point in time, it primarily includes teens and young adults in their early twenties, with an average designation of youths between the ages of 13 and 22.
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