Who are Generation Y?
- Content Type:
- Glossary
Generation Y Definition
People born in the United States and Canada from the early 1980s to the mid-to-late 1990s. The demographic cohort is also known as Echo boomers or Millennials.
Members of generation Y are individuals born in the United States and Canada from the early 1980s to the mid-to-late 1990s. The demographic cohort is also known as echo boomers or millennials. In marketing research, generation Y represents a consumer segment with unique characteristics, values and behaviors that influence their purchasing decisions and interactions with brands. Technology, particularly social media, is a key influencer of this group. Generation Y's impact in the marketplace can be described as current as well as future. As gen Yers get older and their purchasing power grows, their influence on markets will persist and probably strengthen. Studying generation Y provides marketing professionals and businesses to adjust to shifts in the age group’s consumer behavior, changing trends and brand-consumer relationships.
Why is it important to reach the generation Y audience?
Businesses, marketing professionals and advertisers seek insights into generation Y because this age group possesses substantial purchasing power and is a target for many industries, especially technology, fashion and travel. Research into generation Y’s consumer preferences, motivations and consumption patterns provide businesses with insights to reach and serve this age group. Failing to cater to the needs and expectations of Generation Y can lead to missed opportunities and decreased market competitiveness. Moreover, Generation Y's long-term value as customers makes them a focus of research.
How to reach the generation Y audience?
By understanding generation Y’s unique characteristics and preferences, you can craft tailored market research strategies that effectively engage this influential demographic.
- Emphasize authenticity and transparency
- Illustrate social responsibility and sustainability
- Highlight personalized experiences in your marketing approach
- Leverage the digital platforms and its influencers where this generation is most engaged