Showing posts with label Gen Y trends. Show all posts
Showing posts with label Gen Y trends. Show all posts

7.20.2009

Millennials: A New Generation of Family Values

On Saturday, I attended a wedding for the daughter of our friends. We knew the bride 10 years ago when she was graduating high school, but haven’t seen much of her in the mean time. So when the best man's toast made it clear that he expected the couple to have a family, I was startled. That simply wouldn’t have happened 20 or 30 years ago. Yet, upon reflection, the presumption seemed completely logical. Millennials are in fact showing every sign of being one of the most family-oriented generations to date.

I first wrote on this topic last July when I speculated that babies were becoming cool (What the Cool Kids Want, A Baby). The post evoked this response:

"For first-wave Millennials like myself, we were coming of age just as all the characters on FRIENDS were starting to settle down and even have babies. I think girls my age thought "Why am I going to waste a decade trying to find myself, when in the end what I'm looking for is a family?"

There's more than anecdotal evidence that a baby boomlet may be on the way. Birthrates per women reached the magical 2.1 population replacement rate in 2006 for the first time since 1971. More babies were born in 2007 than even during the height of the baby boom. Studies of values shows Millennials put having a family as a goal. According to longitudinal survey of high school students conducted by the College Board, 77% of students nationwide say “raising a family” is an “essential” or “very important” life objective. In 1977, by comparison, just 59 percent of students gave the same level of importance to raising a family.

What will Millennials be like as parents, and what does that mean for marketers? I have a few predictions:

Gen Y will be attentive parents, albeit for different reasons than the parental-attention-starved Gen X’ers who’s extreme parenting styles seem to be about making up for what they missed as kids. In contrast, Gen Y, enjoyed some of the most child-centric parenting ever known. There is every reason to think they will continue to dote on their own offspring, most likely with help from grandparents. Boomers are unlikely to back out of their kids lives now just as things get really fun. We may even see multiple generations under the same roof again, by choice and in some cases, by necessity.

Millennials will put their kids ahead of their careers.Young, well-educated young mothers and fathers, will find a way to balance their career expectations against their parental responsibilities. Millennials who have already shown willingness to decouple identity from work. (Think of the character Ryan in The Office relative to Michael for examples.). A young cousin of mine and her husband each have part time jobs in LA to ensure that someone is always home with their r 2-year old son. I would also expect young parents to leverage their expectation of job mobility to enjoy alternating periods of working and staying home, or working from home. The direct implication is that there will be more sharing of responsibilities, including shopping, cleaning and child care, putting men squarely in the target for many CPG products.

Millennials’ interest in healthful, locally produced and organic foods will accelerate. According to Mintel, interest in shopping at Farmers’ markets, in food co-ops and community gardens all jump with the presence of children. For example, 6% of households without children buy local goods at a farmer’s market and 3% at a food co-op. That jumps to 9% and 7% respectively with the presence of children.

Millennials will emphasize family experiences over material things. An emphasis on travel, learning and experiences is characteristic of their generation and a pattern they are likely to carry over into their parenting. Again, this may be a function of necessity as well as values. Whatever the reason, look for houses to be smaller and greener, toys to be fewer and family activities to be more common. When my mom was a kid, she and her family used to go to ‘family camp’, and I have recently heard several young couples say they have been doing similar things.

Millennials will evolve their use of social media to focus on their lives as parents. The need for the support of friends and community, for documenting one’s life through pictures and video and for sharing milestones accelerates with parenthood. No doubt we will see many more applications and parent-specific social media sites spring up to fill the need. Already Promo magazine and Fast Company have noted that Millennials are more likely to turn online to make her life run efficiently. According to Promo Magazine, "Gen Y moms were also more interested than their older counterparts in tools that let them create and maintain their own content." Here's what Fast Company has to say:

Age 27 or younger, Millennial Mom is the newest mom on the block, and she's the first generation to use technology to seamlessly blend work and life. Not long out of college or high school, she's facing many firsts: marriage, babies, insurance, jobs, maybe even owning a house. Hyper-connected and beyond tech savvy, Millennial Mom's world is both physical and virtual, bringing social connection and life-skills management as close as a computer or cell phone. She's busted out of previous generations' isolation challenges during those early, tethered-to-the-house years. You'll find her plugged into Myspace.com or TheNest.com, sharing worries, excitement, and ideas with her online family. Products like mythum mobile coupons and Infinity Broadcasting Visual Radio -- delivered right to her cellphone -- resonate with her values of connectivity and access, seamlessly going where she goes.

7.02.2009

Gen Y to Marketers: You Are Missing Your Blue Ocean

In 2005, a great business book called "Blue Ocean Strategy" challenged marketers to stop thinking incrementally and looking for 'white spaces' in which to compete. The book, now published in 41 languages urged mraketers to identify latent market needs. The authors maintained that too many marketers were playing a losing game by competing in crowded, fiercely competitive 'red oceans' when they should be looking for wide open blue waters.

Gen Y may present a remarkable blue ocean for many industries. Not only are they big, they purport to want something different and new. And many are literally begging marketers to 'think differently' about them.

Just today, Advertising Age carried an article by, Megan Meagher, a 25-year-old account planner at Taxi, New York titled "Millennials Are Evolving; Are You Keeping Up?" Megan doesn't understand why marketers aren't doing more to win over her age group, especially now when the recession has her retinking her spending priorities and brand preferences:

"I'm a changed person, thanks to this recession. I eat more meals at home and actually pay attention to the price of groceries. Living on my own for the first time, I find myself buying and using more household products, from dishwasher soap to stain remover. As a result, I'm newly receptive to advertising in those product categories. But what surprises me is how few marketers -- outside of clothes, shoe, food-and-beverage and entertainment marketers -- actually pursue my age group. I wonder why that is, when much of what I've learned about brand building in my work in strategic planning suggests that marketers that reach out to Gen Y may find that the payoff lasts decades.

In a few years my generation will be the moms and dads of the world, the major household buyers. Within the next decade, we'll be generating $2.77 trillion dollars per year. It's essential for brands to grab us now and reach out in ways we find meaningful. "

The number of marketers with explicit Gen Y appeals is fairly modest, and most tend to be from entertainment, technology or traditional youth marketing categories. For marketers in food, wine, financial services, travel, appliances, household products and for retailers, this article and others like it should be a wake up call to start sailing in the blue ocean -- before it turns red.

6.16.2009

Observing Teen Media Use in its Natural Habitat

I have two Millennial-age kids, one in high school and another is a college student. This summer they exhibit the sleep habits of nocturnal wild animals. If they were dropped into Hong Kong tomorrow, they would experience no jet lag.

Technology knows no time zone and is hard to quit once you start. Combine entertainment with social connection and you have a sticky brew. My son dramatically removed the TV from his room during final exam week, but has yet to restore it. I now see why: he doesn't need it! His laptop functions as super-functional TV/DVD/ player with communication built in.

New research from OTX (and conversations with other parents) assures me my kids are fairly typical. Andy Pipes, in blog post titled "Technology, Kids and Telly", summarized the OTX findings on 12-24 year-olds like this:

* They personally own 8 devices (including MP3 player, PC, TV, DVD player, mobile phone, stereo, games console, and digital camera)

* They frequently conduct over 5 activities whilst watching TV

* 25% of them agree that “I’d rather stay at home than go on a holiday with no internet or phone access”

* A quarter of young people interviewed text or IM (instant message) friends they are physically with at the time

* They have on average 123 friends on their social network spaces

* And the first thing the majority of them do when they get home is turn on their PC

Although the research is from London, all of these findings ring true with my experience, including the points about vacation and texting friends sitting next to you. According to the OTX report, youth’s obsession with technology is less about the technology and more connection and communication.

"Young people’s immersion in these devices and the time spent on them is not due to an obsession with the technology per se, but largely due to the gadgets’ ability to facilitate communication and to enhance young people’s enjoyment of traditional pursuits. For most, the focus of their passion is not so much the device itself, but more about how it can help them connect, relax or have fun. The technology itself is “invisible” to the young consumer.

How is all this 'communication' affecting offline relationships with friends and family? According to the Annenberg research (reported this week by AP) Internet time is more likely to cut into family time than time with friends."

In 2000, when the center began its annual surveys on Americans and the Internet, only 11 percent of respondents said that family members under 18 were spending too much time online. By 2008, that grew to 28 percent....In the first half of the decade, people reported spending an average of 26 hours per month with their families. By 2008, however, that shared time had dropped by more than 30 percent, to about 18 hours."

The OTX research aligns with this finding. Here is Andy Pipes again:

>"These activities seem to be making up for not spending as much physical time with their friends as they’d like - which seems to be most of the time. On the weekends, when typical young adults have the most free time, they are still spending more time hanging out with their mates and watching television than any other activity - the difference is that this generation tends to be engaging with their connected devices a lot more whilst doing those cherished activities."

I suppose i can take some comfort in that. Meanwhile, I don't miss hearing the refrain of summers past: "Mom, I'm bored. There's nothing to do!"

5.16.2009

Who's Next for a Millennial Brand Makeover?

Gen Y is different, and not just because they are young. A 5.15.09 Christian Science Monitor article ("Do You Get The Millennial Generation?") drives this point home home: Don't "assume that the members of particular demographic groups, in this instance young people in their mid-teens through their mid-20s, behave the same and hold the same attitudes at all times." The authors of the article, Winograd and Hais, have extra credibility on this point: they were also co-authors of the prescient book, Millennial Makeover, that predicted the political shift that carried Obama and the Democrats into power last year. Their forecast was based on careful attention to changes in generational values.

Now marketers are finally catching on.

ABC Family understood the latest transformation as an opportunity, and re-directed its programming ago to better align with Millennial values. As a result, ABC Family is now attracting some of the largest Gen Y audiences on TV (see earlier post, "ABC Family, A Deft Millennial Makeover".

In contrast, MTV, the channel that literally invented youth programming 25 years ago, recognized the latest generational shift too late and now is playing catch up. According to CST, "MTV has acknowledged that its programming had become out of step with the progressive, service-oriented values of today's youth, the Millennial Generation. It was very clear we were at one of those transformational moments, when this new generation of Millennials [born between 1982 and 2003] were demanding a new MTV," a channel executive explained."

I expect this trend to accelerate, and restaurants, wine and food brands are the latest to catch on. Last week, even Kraft Foods is moving to reposition Miracle Whip to the Foodie Generation with the theme, "We are Miracle Whip. And we will not tone it down." (We will not be quiet. We will not blend in. And when we are in a salad or a sandwich or a panini or crostini, you'll know it. We are Miracle Whip." ) As might be expected from a campaign targeted to Gen Y, Adweek reports that this effort goes beyond TV advertising to incorporate social media. A Firefox plug in called 'Zingr' users to leave short, 160 character comments on various Web pages across the Internet. It's a nice play on Miracle Whip's brand promise, with the app being promoted as "the newest way to add your own flavor to the Web." Leaving a "zingr" on Kraft's site, for example, triggers this message to a user's Twitter network: "I just left a Zing! On brands.kraftfoods.com (Check it out.)

If Kraft can make Miracle Whipp relevant, who's next for a Millennial Brand Makeover? Here are some suggestions:

1. Hardware and Home Centers: As the earliest Millennials reach their thirties, home care can expected to become more of a focus for Gen Y. Hardware and home centers need to start capitalizing on Millennials' interest in eco-friendly products, green living, repair/reuse/recycle, organic gardening and more.

Financial Services: Charles Schwab is talking to Gen X, but we have seen few efforts to engage Gen Y. Gen Y will be looking for investments that align with their values of social entrepreneurism, environmental and political activism.

Travel Services: Millennials have a passion for seeing the world. As their spending power increases, they will be looking for unique travel experiences that align with their values, of 'giving back', mixing their desire to see the world with opportunities to contribute to the places they visit.

Post-Graduate Training & Education: Millennials will take lifelong learning seriously. Many Millennials see advanced degrees and training as an alternative to 'paying their dues' at work. Educational institutions would be wise to maintain relationships with alumni and stay tuned to their ambitions and desire for self-improvement even beyond college.

5.03.2009

Millennial Wave Hits Wine

Those of us in higher education were among the first to notice Millennials were different from other generations. Then it was politicians. Now managers, recruiters and HR professionals are scrambling to adjust. What's next? Most likely food and wine marketers.

Millennials are discovering wine in record numbers. Domestic wine volume increased 11% between 2003 and 2007, and imported wine volume increased 27%. According to the Wine Council, Millennials accounted for 46% of the growth (see chart). Savvy wine marketers are aware of the sea change and, excuse my torture of the metaphor, are preparing for what is shaping up to be a tsunami of wine drinking.

Those reading along with me over the past year, already know that Millennials' love of wine is unique to the U.S. - in fact, French Millennials are forgoing wine. You will also know that it is part of a larger affinity for gourmet, premium and imported food and drink in general.

But what do we know about Millennial wine drinkers, and especially about enthusiasts that can help wine marketers?

First, wine drinking appears to start in earnest as Millennials graduate from college and start careers. Incidence of wine drinking increases from 23% among 21-24 year olds to 32% among 25-34 year olds (Mintel, Oct 08), approximately the same as adults in general (35%). However, the wine preferences, attitudes and behavior of Millennials are quite different. They are more sophisticated in their preferences, and more willing to spend to indulgence their preferences.

* Millennials who drink wine are twice as likely to belong to a wine club (20%) and to drink at wine bars in the past three months (38%) than older groups, (Wine Council).

* Forty-one percent of Millennials who drink wine say they drink imported wine most often vs. only 24% of Boomers and 31% of Gen X'ers. For example 31% of Millennials have drunk a wine from NZ, compared to only 15% of Gen X'ers (Wine Council).

* Millennials are much more likely to purchase their wine at a winery (33%), specialty liquor store (40%) or gourmet food store (20%). (Mintel)

* Millennials say they spend about $10 more per bottle than average across a wide variety of wine buying occasions. For example, Millennials say they would spend $40 on a bottle of wine for a special occasion compared to just $24 for all adults. (Mintel)

* Forty percent of 25-34 year olds agree that more expensive wine tastes better compared to 31% of adults on average. (Mintel)

* Millennials' criteria in wine selection tends to favor more familiar wines and wines with fun, casual names. (Mintel)

These facts don't completely relate the sheer enthusiasm of young drinkers for wine. They see wine as part of their move into adult life. It is a passion that drives them to look for new ideas and authentic experiences. For example, here is a comment left by Therese on this blog:

Really enjoyed this. I'd have to say that especially as a millennial, drinking wine is also about the experience. This helps explain why I LOVE and other "millenniels" LOVE drinking imported wine. What better way to escape from stress than to sit outside with friends drinking a Spanish Rioja, eating tapas and discussing life's little pleasures?

For wine marketers, the biggest adjustment will be learning work with younger drinkers' high degree of connectedness. Millennials are naturally social. They share their interests in everything from music to philanthropy through social networks, and it looks as if wine will soon be getting the same treatment. Twitter tasting networks and Millennial wine blogs are appearing almost daily. I have already mentioned the Millennier and Just yesterday, Yvette launched her new blog, millennialtastelive, with this introduction and an invitation to all Millennials to share their love of food and wine.

While researching popular wine groups, I found they were heavily slanted toward the more mature wine consuming demographic, particularly the group Twitter Taste Live, now Taste Live! Wine is popular among Millennials for three reasons: Wine is a social drink and Millennials are arguably the Social Generation There is so much variety in wine and Millennials tend to be attracted to constant change: "What's new?" "What's hot?" and "What's different?" And simply: Wine tastes good! It is my hope that this blog and Twitter Feed helps 20 and 30 somethings connect with one another to share our common bond of love of wine and propensity for social networking for the pure FUN of it MINUS the snobby elitest crap.
Efforts to engage this group will need to go well beyond the traditional web site. They are looking for wine knowledge and experiences and ways of sharing them with their friends. Marketers will need to explore leveraging existing networks, such as the 45,000 member online group, Womenwine, or creating new ones. Millennials want social currency they can 'spend' - and savvy wine marketers will be there to provide it.

2.19.2009

Millennials Asked to Consider Marriage

In first century Rome, a lex julia de maritandis ordinibus aimed to addressed the low birthrate in the upper classes. The legislation set penalities for bachelors and childless couples, mainly limiting their right to inheritance under wills. After divorce or widowhood, women were expected to remarry within a fixed time. A father of one child was allowed to stand for public office one year earlier than the stipulated age. Siring children exempted a man from certain legal duties. Whether or not these measures were effective or not is unknown, but the combination of carrot and stick may have done the trick. The Roman empire didn't die out for lack of citizens, at least not for many centuries.

In an eerie, two-Millennia historical echo, USA Today reported yesterday that the U.S. Federal government is funding a 4-year, $5 million dollar, multi-media and social networking campaign aimed at encouraging marriage among Millennials. While this effort doesn't include penalties for remaining single, it does attempt to point out the benefits of marriage to a generation that lacks good marital role models and is delaying marriage.

"The average age at first marriage is now almost 26 for women and 28 for men. And a growing percentage of Americans aren't marrying at all. Provisional federal statistics released Tuesday report 7.1 marriages per 1,000 people in 2008, down from 10 per 1,000 in 1986...."We're not telling people 'Get married' but 'Don't underestimate the benefits of marriage,' " says Paul Amato, a Pennsylvania State University sociologist and adviser to the National Healthy Marriage Resource Center, which is spearheading the campaign. The resource center, a federally funded virtual clearinghouse, works under an agreement with the U.S. Department of Health and Human Services' Administration for Children and Families."

The drop in marriage rates may be a reflection of Millennial attitudes. Research by the youth research company, TRU, was commissioned prior to developing the campaign. They found just 22% of those 18-30 have a strong view of marriage. At the other end of the spectrum 14% express strong sentiments against it. Those in the middle have mostly a 'practical' view of marriage and plan to either wait a while or live with someone before committing.

The campaign will feature a web site (TwoOfUs.org) as well as ads on social networking sites Facebook and MySpace, videos on YouTube, spots on radio talk shows, ads in magazines and public transportation. The goal is to start a national conversation about marriage.

Will it work? Without the carrot and stick of the Roman ordinance, I am not so sure the independent minded-Millennials will listen or care. A quick look at the TwoOfUs.org web site didn't reveal anything you couldn't find about relationships that isn't easily available in any women's magazine. The tone is definitely not hip or cool, a serious handicap to starting a social media conversation. It also is strictly heterosexual, which may be a turnoff to many Millennials who take a broader view of 'marriage'.

However, the Federal effort may get an assist from the First Couple. Andrew Romano wrote a Valentine's Day cover article for Newsweek explaining that his Millennial friends think the Obama's are 'one of the swooniest couples around', akin to what the Twilight couple is to tweens. (Our Model Marriage The Obamas have the kind of relationship millennials aspire to.) According to Romano, Michelle and Barack are the dream couple to Millennials starved for appropriate marital role models.

"My hunch is that millennials are going gaga over Barack and Michelle because they want to be Barack and Michelle. It's not that other generations can't admire the Obamas' bond; their marriage -- a union of self-sufficient equals -- embodies the post-'60s ideal. But unlike their elders, most millennials have yet to experience marriage firsthand, and what they've experienced by proxy hasn't been particularly encouraging: a 50 percent divorce rate, a steep rise in single parenthood, a culture captivated by cheap celebrity hookups. Even America's most visible household hasn't offered much hope, veering from '50s-era subservience (the Reagans) to boomer dysfunction (the Clintons). But now the Obamas – two independent individuals who also appear to be (surprise!) in love – have filled the void. For young people who have rejected the tired "wife in the kitchen" template but resolved not to follow their parents to divorce court, it's a relief to see that the sort of marriage they hope to have – equal and devoted – can actually exist."

2.10.2009

Millennials: The New Gender Equality?

Women's basketball's biggest star, 22-year old Candace Parker, made a surprise announcement last month: she and her basketball star husband, Shelden Williams, are expecting. Parker was the 2008 league MVP and Rookie of the Year for the Los Angeles Sparks. Why would she have a baby now of all times? Her reply: I want my children to have the benefit of young parents.

This may be a sign of another gender revolution quietly underway. The revolution is a function of Millennial values, and may be amplified by the economic crisis.

Let's start with values. Millennials do not see themselves tied to anyone else's timetable. Many younger women are opting to have children now, before their careers are established. It may be a reaction to watching their own mothers struggle to balance an established career with motherhood. Or perhaps it's just a sign of the confidence these young women feel in their own abilities? Nevertheless, as I have noted before, birthrates are up and young mothers (20-24) are largely responsible for the surge.

A recent comment in response to my July 21 post, "What the Cool Kids Want: A Baby?", provides extra evidence that this emphasis on family may be relatively new, and influenced by cultural icons having babies and making it look attractive. Here's what 'Anonymous' has to say:

"I'm a first-wave millennial, a newlywed, 24 years old, so child-bearing has been on my mind the past year or so. This blog is really interesting because I've noticed a 'change in the wind' with women my age. Whereas growing up as a preteen and high schooler it seemed like having a kid was a curse, along with the whole 'domestic' lifestyle. Shows like FRIENDS, and Seinfeld showed that it was clearly stupid to waste your life being married and having babies. For first-wave Millennials like myself however, we were coming of age just as all the characters on FRIENDS were starting to settle down and even have babies. I think girls my age thought "Why am I going to waste a decade trying to find myself, when in the end what I'm looking for is a family?" Also- I think the number of unmarried women having babies (ages 25-29) are the 'inbetween' generation from Gen X to Millennial. It seems like they are less wary of taking on the single-mom life, and opt for abortions less and less. I think there is still a bit of a cynical attitude towards marriage in that age group however. I think people in their early 20s are starting to warm up to the idea of marriage (influenced partly by TV romances like Pam & Jim on NBC's The Office). I think people are starting to realize that maybe marriage can be a good thing- an idea Millennials didn't grow up with."

Why do I say the trend may be accelerated by the economic crisis? In the past, economic woes led to smaller families. However, this crisis may be different, due to its unequal impact on men and women. According to Lionel Tiger, a Rutgers anthropologist, fully 82% job losers are men ("From Liberation to Obligation" Wall Street Journal, Feb 7). Tiger's prediction is that the economic crisis will put a heavier burden on women. I disagree. It's possible more men will opt to stay home and watch children, freeing moms rather than encumbering them. If more young men do stay home, it may become more socially acceptable, 'liberating' women to work without the usual juggling. Of course, it could the opposite way, with men opting out of family life altogether (Tiger's thesis).

While a 'heavier burden on women' may be true of Gen X and older groups, I don't think it will be the case with Millennials who have already shown their willingness to decouple identity from work. If I'm right, Gen Y may finally bring the kind of gender equality feminists in the 60's only dreamed of.

Marketers have been slow to catch on to men as a target for CPG products traditionally marketed to women, but that may be changing. Advertising Age today exhorts marketers to embrace and possibly facilitate the change. ("Why Package Goods Companies Should Market to Men", Ad Age, Feb 9)

Marketing to men and portraying them as caretakers of and shoppers for the family can attract additional consumers to a brand while encouraging men to become greater participants in the maintenance of their families and homes. And the more men are accepted and accept themselves in that role, the more they'll be interested in brands that solve the needs or enhance the enjoyment of home and family care. And, of course, the more they'll shop for those products.

Basing strategies for tomorrow on current marketing data, sensible as it may seem, is shortsighted, even dangerous. ...Reaching out to a seemingly less lucrative, smaller target market such as men isn't quixotic but rather a strategy to attract more consumers, encourage greater innovation, and even affect the roles men and women shape for themselves, now and in the future. Instead of emulating those Detroit execs who ignored or resisted change, why don't we embrace, guide and, ultimately, benefit from it?

1.27.2009

Millennials Face the Financial Crisis

(video from DigProjects)

The financial crisis of 2008 to ??? may turn out to be the defining event of their generation. Todd Woodward, a savvy Millennial Marketer, believes the crisis may be the event that distinguishes Millennials from the generation immediately following behind them. No doubt the childhood experiences of today's middle schoolers and younger children will be quite different; the Millennials were the children of plenty and the next generation will likely be the children of scarcity.

So how will Millennials cope with the financial crisis? Last week I suggested that they are unlikely to make immediate or drastic changes in their spending habits (or savings) because they already consider themselves cash-strapped. Here are a few more predictions:

1. Many will return to school. According to GMAC's 2008 Application Trends report, "economic changes and GMAT test-taking patterns suggest that the highest level of growth in (graduate school) application volume may occur next year (2009), after which a slowdown is likely to begin."

2. Many will seek alternative jobs in the not-for profit sector. With career advancement iffy, many will decide to focus on other 'rewards' for working. Making a difference is a key Millennial value. Many will reason that there will never be a better time to try. GMAC's annual Corporate Recruiter survey (11/09) says "Overall, salaries for 2009 MBA graduate hires will likely remain at the 2008 level. Yet, the majority of nonprofit and government organizations as well as energy and utilities firms plan to increase average annual base salaries for new MBAs in 2009.)"

3. Many will try to supplement their income with side jobs.. Instead of spending less, Millennials will become creative about generating income from what 26-year old Arneta in the video above calls 'a side hustle'. Arneta styles hair, her boyfriend makes videos. She believes many Millennials will become more entrepreneurial, and so do I. As she points out, a side hustle not only generates income, but also provides experience.

4. Many will redirect their careers. An article in today's Wall Street Journal ("Summer on the Street, Before the Fall") describes the lives of three summer 2007 interns at Morgan Stanley in New York. Today only one is working full-time at Morgan Stanley after graduating in May. The others? One delayed his graduation from Rutgers to take more business and accounting courses. The other had a subsequent internships at Lehman Brothers in the media-relations department and now has a wedding and fashion photography business. I expect to see students in the MBA program at Notre Dame who might before have been fixed on finance careers start taking a harder look at marketing and management.

5. Many will move back home. Helicopter parents will continue to provide a social safety net for Millennials in need. And Millennials will not feel uncomfortable about moving back in with Mom if it comes to that.

6. Some will sign up for military service. Time magazine reports (2.2.09) that the US military surpassed its 2008 recruiting goal. A total of 184,841 new recruits were added to active duty service with the National Guard recruiting the most and overshooting its goal by the most. Second in line was the Army Reserve.

1.12.2009

The Pleasures and Perils of Millennial Trendspotting

Now that we are finally done hearing reviews of the top TEN younameits of 2008, we are enduring endless top TEN predictions for 2009. Given the shocks of 2008, wouldn't it be great to go into this year with some clue as to what might happen? There seem to be two approaches to seeing into the future. One is to tap 'experts'. However, expert predictions are notoriously unreliable, as this video from 1930 speculating on fashions of the year 2000 reminds us. (It's interesting to note, however, that many of these predictions are not that far off the mark -- men do carry a lot of gadgets and women's 2009 fashions do feature the 'transparent' look).

The other approach to future-sight is to observe what 'trendsetters' are doing. After all, every trend has to start somewhere. Something those who prize 'newness' for newness' sake is likely to go mainstream. Of course, there are pitfalls here as well. Who exactly is a trendsetter? And which of their quirky choices will cross over to the rest of us?

According to Outlaw Consulting, there are two ways to approach trendsettter research. One is to identify "attitudinal leaders", individuals with 'broadly aspirational lifestyles'. Often these individuals can articulate the shifting values of their generation and provide ideas about larger societal trends. The other way is to seek out "category leaders", individuals who are highly involved and ahead in one particular category, such as fashion, media, music, night life or alcohol. Within each category, there are degrees of 'forwardness' from cutting edge 'initiators' to slightly less forward 'influencers'. While a cutting-edge fashion initiator makes her own music and clothes, and reads underground blogs created by his friends, the influencer, may be just one step ahead of the mainstream buying the latest styles in the mall, only to be copied by all of her friends.

Knowing what trendsetters are doing is only the first step. The second step is determining which of their choices, tastes and interests will go mainstream. This requires research among early adopters or even late adopters, with a keen ear for 'underlying motives' that may lead these mainstream consumers to adopt the more forward trend. Here is how Barbara Bylenga at Outlaw Consulting describes it:

The key to accurate prediction is understanding the mainstream’s barriers: do they reject the trend because of a soft barrier that could weaken over time? (Soft barrier example: “I don’t like to spend a lot on things like that.”) Or is the barrier deeply ingrained in their identity, suggesting they will never absorb the trend? (Hard barrier example: “Nobody will respect me if I do that.”) ... The process works because it’s thorough and intelligent, rooted in essential truths about human behavior.
Perhaps the 1930's fashion experts were on to something after all. If human motivations remain constant, transparent women's fashions and dedicated pockets for men's gadgets may still be with us in 2050.

11.20.2008

What Are the Cool Kids Doing Online?

Millennials spend 12-14 hours a week online searching for information, watching video, updating their profiles and messaging their friends. They are confident "neti-zens" who have never known a time when up-to-date info about friends, grades, tonight's biology homework, favorite political candidates and the latest SNL episode wasn't instantly and freely available. It's worth understanding what they like online now, because Millennial's online tastes are very influential. According to Deloitte's 2007 State of the Media Democracy Survey, word of mouth is the most common reason for Millennials to visit a website. When they find a particular television show or website that they enjoy, they tell an average of 18 people, compared with only 10 people for all age groups. So what online brands are hot with Millennials today? New research from Outlaw Consulting among 100 hand selected Gen Y Trendsetters sheds some light. The biggest surprise here is that there are no real surprises here. Facebook is number one, even among trendsetters, who at the beginning were vaguely uncomfortable doing something so, well, popular. It just seemed so vain. That apparently has changed however, due to the ubiquity and ease of use.
>"Facebook has become more of a fact of life, a way to communicate and schedule events—consider it this generation’s version of Microsoft Outlook, but with an emotional side. “There is an entire army of friends who I don’t see regularly but still care about. It means a lot to automatically be able to see their photos from time to time, and keep abreast of who’s where. Facebook provides a warm blanket for me. It makes me feel more connected, less alienated.”
In our research with recent college graduates, we learned Facebook has become essential for remaining in touch with newly scattered friends. While the Facebook habit is strongest among those who actually used it in college (those who graduated less than 4 years ago), we expect the trend to continue.

Other popular trendsetter sites pose similar paradoxes. Ironically, trendsetters want to tap into the 'wisdom of crowds' available, where else, on EBay, Yelp, Wikipedia, Craigslist.

“There are tons of different opinions on there, but you can sift through and get a feel for the truth. I don’t know what I did before Yelp.” “Whenever I have an item in mind, I check eBay. It standardizes the pricing. If you want to know what the public thinks an item is worth, eBay will tell you.Gen Y trendsetters will gladly sacrifice 100% accuracy for direct access to the public’s version of reality, whatever it may be. They believe they know when to trust sites, and when to seek another source. In the meantime, they credit these sites with doing no less than changing their lives. The model of the open platform giving voice to a crowd will be close to their hearts as this generation comes to power.
The rest of the list is equally unsurprising. CNN, NYT, Netflix, Amazon, YouTube, Flickr and Pandora round out the list. Where are the obscure, the trendy, the not on the map ideas? Perhaps that is the big finding. The Internet, arbiter of every personal whim and taste, may be more mass than we even suspected.

11.13.2008

Gen Y: The End of the Home Ownership Dream?

What a great time for first-time home buyers, right? They have the good fortune to buy at what may be close to the market low (we hope) without having to sell at that same low point. Well, as usual with Gen Y, it's not that simple. While the average age of first time home buyers is 26, realtors shouldn't expect waves of Millennials to be knocking on their doors. While the under 30 set may enjoy high incomes and high hopes for future earnings, both their attitudes about homeownership and the reality of high debt are certain to impact their likelihood rushing in to snap up real estate deals.

First is attitudes. Millennials do not aspire to the homes many grew up in. They see a big backyard and lots of square footage as a maintenance nightmare. Smaller living spaces and open space floor plans are likely to be their preferred way of life, for environmental as well as lifestyle reasons. The NewsObserver recently interviewed several Gen Y members on their dreams of homeownership. Here's what they said about the desirability of living in a big house:

Stephen: No. I want a smaller space so it's easier to take off and go. A house that's low-maintenance is good. Generation Y traveled a lot in college and will continue to do so through life. So a big yard isn't a plus, either.

Ryan: No. I think that seeing so many of our generation's parents divorce makes us understand that family togetherness is important. So as we start having kids you will see us avoid homes with a living room, family room and finished basement rec room in favor of open-plan homes where the family can share space.

Carrie: Definitely not. The huge space thing as a status symbol is gone. Well-used efficient space is best. I want a house that reflects who I am and where I've been. In big houses, people buy meaningless stuff just to fill them up. Living in a cookie-cutter subdivision with vinyl siding and no trees is not palatable to me.

Second is finances. Even if they aspire to home ownership, it's harder now to amass the necessary down payment of $30,000 or more. It's been widely reported that the average college debt is $20,000. Many struggle to pay it back, while making ends meet. Many still accept support from parents. Higher income Millennials in our focus groups, those with MBA's and good paying jobs, tell us of staggering college debt loads -- $60,000 or even $80,000. While these civic- and community-minded young adults are motivated to dontate to their college and other causes they believe in, they sheepishly admit it just isn't possible right now.

Add inexperience in budgeting and planning, credit card debt and the uncertainty of the job market, and the picture becomes even more grim. Consider these statistics from MSN (Why Gen Y is Broke):

The median credit-card debt of low- and middle-income people aged 18 to 34 is $8,200

People between the ages of 25 and 34 make up 22.7% of all U.S. bankruptcies (but just 14% of the population at large).

While the facts are sobering, Millennials are cautiously optimistic rather than dismayed. They have the long view, and are confident in their skills and abilities. As one young potential home buyer shared with me, 'With so much for sale, we can afford to be picky right now and get a really great deal.'

10.28.2008

Research Insights: Brands that Connect With Millennials

Understanding how and why brands connect with Gen Y is critical to Millennial marketing, but research on the subject can be hard to come by. Primary brand research is often closely guarded. That makes figuring out what Millennials want now and, more important, will want in the future a challenge for those without money to spend on getting out and talking to them. Here are three great, free resources on Millennial brands:

1. Outlaw Consulting Trend Reports: Outlaw specializes in researching Millennial trendsetters. They have been doing this longer than anyone I know and provide great content on their site in the form of their in-depth newsletters. These newsletters are full blown reports. Last year, they profiled the top 15 brands.

2. Businessweek recently shared their list of brands with global girl appeal ("How Brands Become Girl Approved", 9.18.08) as part of an overall survey of global brands. There were the usual suspects: Coca-Cola, Apple, Starbucks, and Google. But there are also a few surprises -- Ford, Citi, H&M, Motorola. Actually, I am not so sure about the surprises and neither are they. But what I especially liked was the slide show, the synopsis of what each brand means to girls and suggestions for what it could mean.

3. Graham Brown also has a long record of understanding youth culture, especially mobile marketing to youth. His blog, mobileyouth.org contains a wealth of data and links to slide presentation on youth culture and mobile marketing. For a sample, check out this presentation to Vodaphone on slideshare:

I especially value the links to four slideshare presentations on the Gen Y appeal of four specific brands: Scion, Jones, EA games and Red Bull. He describes these as 'brands with uncommon sense'. Here is the Red Bull presentation.

10.16.2008

Millennial Resources: Gen Y Bloggers

I am not a Millennial. But I know a lot of Millennials. Here are my favorite Millennial authored blogs. Each has a marketing slant that makes it well worth putting in your NetVibes folder or Technorati favorites:

David Fallarme,

www.themarketingstudent.com Sample post: Gen Y will be the Helicopter parents from hell
"Gen Z: don’t even think about lying to your Gen Y parents, we’ll have documented evidence. Of pretty much everything you do."

Sarah Ewing, www.adage.com/gennext

Sample post: Political Advertising Should Be Held to Higher Standards
"Using the same logic that regulates the rest of the advertising industry, why should these campaigns not be regulated?"

Michael Girts, www.adage.com/gennext

Sample post: View from the Inside: Part I
I like to tell people that they gave me a corner office. It's my clever way of saying I sit in the corner. At the end of the hallway. In a makeshift cubicle. Using an in-store display featuring the Incredible Hulk. That's right, it's just me and the Hulk crammed at the end of the hallway. It's okay.
anastasia, www.ypulse.com Sample Post: 11 take home points from what teens want
"Teens today grew up taking their Keds off at the airport in case of shoe bombs. They had leashes, Baby on Board signs and eat all organic. I call this Teacup Parenting. Marketers need to be aware of how delicate and fragile these teens are. They feel like everything is a big deal and they worry a lot. This is why trust, brand building and authenticity are crucial."
Mindcomet, GenYVooDoo Sample post: Are Execs on point with Millennial Marketing?
"Unsolicited text messages I find a nuisance, but I suppose if I signed up to receive some sort of offer through text message it would be less bothersome."

Jeff Taylor, MillennialMarketer.com

Sample post: Microsoft vs. Apple: Competing for Gen Y's Digital Lifestyle
"I am writing to give you an inside look on how marketing and advertising efforts targeted at Gen-Y are seen by us."

10.13.2008

Role Reversal? Marketing to Millennials Through Their Parents

Every marketer knows parents' purchase decisions in everything from breakfast cereal to cell phones are often strongly influenced by their children. Wise marketers have leveraged this by marketing directly to their kids, even though they are not the ultimate decision-maker. With close relationships between hovering parents and young adults increasingly the norm, the opposite strategy may start to make sense: influence young adults' decisions through their parents.

Colleges have long known the importance of parents to the application and decision process. Now HR managers are also directly addressing parental concerns after noticing parents were helping their adult children negotiate pay and benefits, angle for promotions and evaluate job offers. According to BNet, Office Depot is planning to include a reassuring message to parents on its web site; Merrill started sponsoring a Parents’ Day in 2006. The company flies parents and caretakers of diversity students to Manhattan, teaches them about the business, provides a tour of the Big Apple, and emphasizes company support and benefits, such as free meals and transportation for employees working overtime. The program has been so successful they are considering expanding it. Last year only one student whose parents attended the event didn’t accept the firm’s subsequent job offer.

Millennials are just beginning to make their first significant adult purchases -- automobiles and appliances, student loans, health and life insurance, a home, financial investments, and automobiles. As they make these decisions for the first time, they will turn to their parents for advice. Smart marketers will anticipate the influence parents are likely to have in these decisions. After all, 50% of 18-24 year old men and 33% of women still live at home, and many continue to receive financial support from their parents. Increasingly, consumer decisions may look more like corporate 'buying center' decisions, with multiple influencers and lack of clarity around who is the true decision-maker.

10.07.2008

Millennial to Marketers: Be Meaningful, Be Quick, Be Shiny

I just read an amazing article from Marketing (May 26, 2008) by Naomi Wohl, a young strategic planner at Ogilvy in Toronto. Millennials have a unique sense of timelessness. They want it now, and 'forever' has little meaning. Naomi explains why. It's a little long, but I want to share most of it as it was written. I hope you enjoy it as much I did. She captures an essential truth of this generation that I haven't heard expressed this well anyplace else. Enjoy!
The concept of forever is lost-literally. Timelessnessgone. Moments that will last a lifetime-MIA. We are in the Age of The Here and Now. The Age of Moment to Moment. The Age of ADD. ....Nothing creates fleeting experiences like our current culture of technology. Why buy a car when you can lease it? Why sign a cellphone contract when you can pay as you go? The newest iPod and flat-screen TV models are being designed just as their predecessors arrive on shelves. We buy in anticipation of getting the upgrade. We revel in the current model's inadequacies because we're so amazed at how quickly they can be improved. We live in a time in which lifetime warranties are meaningless. ...

And who bears the brunt of this phenomenon? It's the very same people engineering it-Generation Y. We are aged 18 to 28, and possess or have access to amazing stores of knowledge -- though it is matched by an even greater indifference. We are a generation of silent overachievers (pretending we don't really care), genetically and culturally encoded to think fast, want more, and crave new. We were built for this time; an ephemeral culture created by us, for us.

We repel things that last longer, and as a result, our attention span is getting shorter. I'm emotionally attached to my PVR. My high-speed Internet isn't fast enough; I've had to upgrade to "Extreme." I multi-task. I have developed an uncontrollable jittering knee when other things and people move too slowly. Do I sound anxious? Irritable? Maybe some pharmaceutical company is working on the drug for my Gen Y disease. Dear marketers, if you want to reach me, you'll have to catch me. And please be quick about it.

For us, the concept of friendship has even changed from terms like "BFF," to join my entourage on Facebook. As for relationships, the success and growth rate of online dating sites suggests we're searching not for the partner who is a fit forever, but for the partner who is a fit nght now.

And yet, despite our current transient attitude, we are desperate to make the moment last. For those of us who want to try our hand at singing, dating, dancing, fashion designing, modeling, inventing, cooking or 5th grade math-prime-time programming can make us famous. In the wake of impermanence, fame enablers like reality TV, YouTube videos, or even Guitar Hero, give us a chance to be a rock star. Even if you only get to enjoy the fame for a moment, there's a chance to make that moment last.

And last and last. Because thanks to the environment, all of a sudden forever matters again to Gen Y. Our long-term temporary thinking has led us into a permanent crisis, scrambling to reverse our hardwired non-committal nature with an undying pledge to preservation and conservation. The environment is the quintessential cause rallying the masses today. Never have we collectively been so dedicated to sustainability. We can fill the blue box at home, join the MySpace group for alternative energy and buy organic. If everything else in our lives is so temporary, why is this cause so captivating? Maybe we long for something to matter. Maybe we fear our lives will come and go as inconsequentially as all the fleeting experiences that filled them. We're desperate to make something last. So we'll endorse the cause and work to create a world that will never know we were even here.

For you marketers, trying desperately to grab my Gen Y attention as I rush by, here are some tips.

Firstly, your brand needs to be the new transformer of our time-capable of renewal and regeneration while demonstrating that essential I-can't-live-without-you shiny feature. Next, don't linger. Tell me what you want to tell me, but tell me quickly, because I'm already looking in someone else's direction. And finally, be meaningful. Be the inside joke that only Gen Y gets; self deprecating but not insulting. Be Optimus Prime. Be my hero, and I'll be your rock star.

9.30.2008

Millennials at Work: Striking the Balance

One of the more notable differences between Millennials and other generations are their equivocal feelings about work. While they (and their parents) are anxious to get a good job and begin establishing their adult lives as functioning members of the modern economy, they are also vaguely uneasy about the place of work in their lives. They expect they will need to make serious compromises to land and keep a job.

We identified some of these anxieties in focus groups last spring among young professionals at major companies. Last week, Ad Age featured our findings in an article, "The Inside Scoop on What Spurs Millennial Hires" (9.22.08) Nealy everyone we talked with was concerned with two issues: 'work-life balance' and 'making a difference'. These two concerns were sometimes related, particularly if their job was not seen as offering much opportunity to 'give back'. No doubt the recent financial shocks are causing Millennials to give even greater thought - and worry - to what the work world will mean for their lives. Shrinking job markets make for fewer chances to ask for concessions on vacation time, education perks, and other incentives dear to the hearts of Millennials. This week, in her GenNext blog, Sarah Ewing frankly discusses the tradeoffs she considered in taking a more 'strategic' job with fewer perks. Alex Kniess's posting is titled, "Your Career Should Be Part of Your Life (Not the Other Way Around)". And in his GenNext blog entry this week, Michael Girts, a new AAE at Leo Burnett in Chicago, posted a wonderful video, ""Music and Life" that neatly encapsulates Gen Y's fears about the potential lack of fulfillment they face by continuing to chase workplace succcess. The 1-minute video (you'll be glad you watched it) pairs an Alan Watts voiceover with adorable animation to capture the angst many young workers feel about the school - career -- success trajectory. "Then when you wake up one day when you are about 40 years old and you say 'My God! I'm here, I've arrived. I'm there'. But you don't feel any different than you've always felt... you've missed the point." Are you sensing a theme here?

In our research, this translated into a desire to tell their bosses, "This job is not my life" or "“This job is not my life!” Or as another put it, “My job isn’t life or death – I’m not saving lives, I work in marketing – sometimes people forget that.”

I'm not exactly sure how this insight to the psyche of Millennials relates to marketing, but I think it's important; they are unsure whether to be motivated by the same incentives as the rest of us -- or at least up until this latest economic crisis.

7.21.2008

What the Cool Guys and Girls Want: A Baby?

Call it the Juno effect, the Jolie effect or the Jamie Lynn Spears effect. Whatever you call it, it's 'in' to be a mom. The average number of births per woman reached the magical 2.1 population replacement rate in 2006 for the first time since 1971. The trend continued in 2007. According to newly released U.S. Census Bureau data, more babies were born in 2007 than even during the height of the baby boom - 4.32 million babies in 2007, more than the 4.30 million babies born in 1957.

There's no question that being pregnant and having a baby looks cooler than ever. First there's the celebrities reproducing faster than one can read about it in the supermarket tabloids. Then there's the movies and TV shows. Ellen Page as Juno was spunky, hip and totally emulatable by teens in Gloucester, MA -- and who knows where else? An NBC Reality Show, The Baby Borrowers, is reportedly intended to reveal the sleepless reality of parenthood, but would it be interesting at all if there were no interest in the topic? Knocked Up was a hit romantic comedy.

So who is driving the trend? Is it the Millennial teens and young adults or Gen X'ers who delayed having babies to establish careers? The 2007 numbers of births by age of mother are hard to find. But there are indications that it is the younger women driving the trend. The percent of births to women 15-29 has remained steady at 62% from 2001-2005, and there is no reason to believe that proportion has changed in favor of older mothers. Further, according to a Dec 2007 CDC report, the birth rate for the youngest teens (aged 10-14) declined, and the birth rate for older teens aged 18-19 (73 per 1000) is more than three times higher than the rate for teens aged 15-17 (22 per 1,000). The biggest jump was among unmarried women aged 25-29, among whom there was a 10 percent increase between 2005 and 2006.

The current baby-mania may have its roots in Millennial attitudes. Many no longer feel constrained by a timetable that calls for establishing a career, then a family. Millennials believe they can do what they want, and if a baby is what they want right now, why not go for it? As the products of one of the most successful generations of parents, they have good parenting role models. And as one of the wealthiest cohorts, they may feel they are financial as well as psychologically prepared. Who knows, they may be right? A plethora of babies may be just the latest clue that Millennials are not like Gen X'ers.

7.11.2008

Millennials: What the Cool Kids Want

Barbara Bylenga is President Outlaw Consulting, a highly successful San Francisco-based company specializing in spotting trends. They talk to trendsetters and predict which trends will go mainstream. Outlaw has been telling companies like Nike, Levi's and Diageo for years what the coolest of the cool kids want. In a recent exclusive interview for the Global Business Network(GBN), she affirmed that cool Millennials are indeed different from cool kids of the past. Here are a few highlights:

GBN: The bulk of your trendsetters are in their teens and 20's. We hear a lot about the Millennial Generation and how they are different. Is it hype or real?

BYLENGA: Millennials, or Gen Ys, are definitely different. They seem to feel more empowered - and more entitled-- than any generation before them. They have an innate team orientation that makes them excellent collaborators. And the ideas about issues like marriage and career are radically different. Their "American dream" isn't about the picket fence; it's a flexible freelance career and a life defined by passion. There's no doubt in my mind that they are poised to change society. And they're the biggest American generation ever -- even bigger than their parents, the Baby Boomers. In just a couple years, they'll be on-third of the U.S. population.

GBN: What are Gen Ys like as consumers?

BYLENGA: Gen Ys see themselves as change-makers. But they're also busy trying to have a middle-class life, so their protests take different form than youth protests of the past. They see corporation's as having lots of power but little heart, and they try to create change by using their dollars. The "aha" for corporations is to recognize that values and authenticity are important to this generation -- and that directly affects how they spend. American Apparel, for example, has been totally embraced by youth because of its labor practices. Shopping there make them feel like they're spending money in the right place. Companies that really "walk their talk" about cor values will be endeared. If you want to be relevant to Gen Ys, you need to understand their mindset. Understand what they're doing -- and why.

GBN: What's the hot new thing among Gen Y trendsetters? I assume they all have iPhones...

BYLENGA: Well, iPhones are still very popular, but they're not as cool as the MacBook Pro, which is the most powerful status symbol among our trendsetters right now. Some of them are living in squalor on 24th and Mission, eating Ramen noodles and shopping at the Goodwill - but they paid two grand for their MacBook Pro. An iPhone is nice for keeping in touch, but let's face it, it's yuppie accessory. Toms Shoes are also big right now. Every time we do a focus group wtih trendsetters, at least one of them shows up wearing a new pair of Toms. They're simply designed and very comfortable, and for every pair you purchase Toms donates one pair to a child in need in Argentina or South Africa. "one for one," they say on the box. It's a simple mission and the shoes are hip.

6.13.2008

Millennials vs. Boomers: Hogwarts as Metaphor?

I highly recommend Millennial Makeover by Winograd and Hais (Rutgers Press, 2008). While the focus is political, there is plenty of useful data for marketers, much of it from familiar sources like Pew (see previous blog post). My reason for recommending it, however, is their use of the data to address the question, 'Are Millennials just younger versions of previous generations or are they really different'? The arguments they put forth are compelling. According to the authors

"... media moguls, authors and even politicians make the fundamental error of thinking that today's young people think and act just like they did when they were young. Nothing could be further from the truth."
They ask us to think of Millennials as a generational cohort made up solely of Harry Potter and his plucky friends, and to contrast them with the adults at Hogwarts, the scowling, often clueless faculty and ministry of magic administrators. While Harry and his team (key word) work hard to save the world, applying special ingenuity and talents, the grown ups they must contend with are "individualistic, judgmental egotists who talk more than they act."

Millennial professionals who participated in two online focus groups, to our surprise, expressed a similar view of Boomers. When asked who they prefer to work with, all said they preferred to work with other Millennials (no surprise there), and they MUCH prefer to work for Gen X'ers over Boomers. This was indeed a big surprise to us, after all that has been written about the supposed natural affinity between Millennials and Boomers. Boomers are considered to be like their parents, pretty old fashioned and out of touch. One young brand manager at Unilever even shared with us that there is a 'reverse mentoring' program in place at his company, where Millennials share their technology wizardry insights with older, less adept Boomers. In contrast, they feel as if they have more to learn from Gen X'ers and that X'ers are more willing to take the time to teach them what they need to know.

Winograd and Hais would find this no surprise, contending that indeed X'ers and M'ers have more in common with each other than they do with the 'idealist' Boomers who bear responsibility for years of political gridlock and ultimately pointless culture wars.

5.28.2008

Millennials: A Melted Pot

Is 'Multicultural Youth Marketing' a redundancy? 38% of 18-24 year olds are non-white (see chart below). This generation is famous for its tolerance -- Pew Research reports 94% of the post 1977 born Gen Y approve of interracial dating compared to 84% of Boomers. Just 17% of 18-29 year olds said that race was important to their vote in the primary compared to 22% of 30-44 year olds. 57% voted for Obama vs 48% for all age groups. (Pew Research Center, Young Voters in the 2008 Primaries). Given this kind of evidence, I think there is a case that youth marketing and multicultural marketing are one in the same. Gen M not only desires diversity, they expect it. Recent focus groups we conducted on women and fashion found the appeal of celebrities like Tyra Banks easily cross ethnic boundaries, while Jennifer Anniston is 'every girl' for everyone. No college can afford to not have its multicultural images on display. Perhaps we are stating the obvious, but if so, why are we still talking about 'multicultural marketing'? Perhaps we should just say 'culture aware marketing'?