In the lecture, we talked about how important is to pay attention to demographic segmentation. When talking about consumer behaviour, this is one of the important external aspects because it influences what people want to buy. Demographic segmentation includes five different areas: age, gender, family lifestage, generation groupings and social class. Today, I will specifically talk about the Generation Y, which is one of the generation groups of which I belong to, since I was born in 1999..
Generation Y, also called Millennials, consists of people born between 1980–2000. It is considered as the most technologically sophisticated generation in history with a huge advent of media and technology. According to the results of a study by Valaei and Nikhashemi (2017), brand, style, price and social identity are the most influential factors of this generation. In contrast, style, price and country of origin are irrelevant aspects for Millennials. Another fact that is these people cannot imagine their lives without the internet, and social media is their second nature. They communicate through them, posting pictures with the newest trends, while still trying to be original. Millennial consumers like to buy authentic, eco-friendly brands, as sustainability will interest them the most.
In my point of view, I can totally agree that social media has become part of my life. People there share the newest trends in fashion, recommend the best restaurants, etc. These are the main aspects that influence me when buying a product. I try to buy locally supported products.
Overall, members of Generation Y are important more than any other demographic because they are largest living generation. They are also the most profitable generation, as they are a well-educated generation with high salaries. So the best way to address Millennials is trough social media, while being authentic.
What generation do you belong to?
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Have nice day
5 thoughts on “Generation Y”
This post made me feel old! I’m a bit out of touch with social media due to my poor internet connection (I live on a private road with no infrastructure for good wiring!) I would say it’s a bold statement to suggest Generation Y is the most important demographic, consider that older generations may have considerably more money to spend and each demographic generally has different goals.
Hi! You gave us a lot of information about Generation Y in this post, and it is truly interesting. I am a part of Generation Z, we are considered as “smarter-spenders”!! I can see a real difference between those two generations, even though we are more similar than Generations Z and X for example. Very nice post, well done!
I loved that you talked about segmentation in the first paragraph to introduce the topic you will write about. I really believe that defining your goal will help you improve your marketing work and not waste resources. I am not part of your generation for a year, I was born in 2001, but I can fully understand your affinity with technology as I was also born and raised with it. Our lives are completely influenced by technology and social media. Really interesting post!
Generation Y seems quite interesting!! I belong to the Generation Z and before I didn’t know that there were so many differences between both generations. While Generation Y is able to use 3 devices we can use up to 5. We are more conscious about our purchase and demanding with the brands we buy from. However I believe that we complement each other. Nice post!
I belong to Generation Y and I can see that I am targeted by brands a lot through social media like Instagram and through direct emails. I agree with you that millennials are conscious of sustainability and now prefer to choose products which are helping to tackle climate change.