Gen Y’s Not a Joke Anymore – And not just because marketers want our money, because we actually have some to manage
I think it’s official. Retailers and marketers have officially recognized that Generation Yers have adult buying power.
How can you tell? A quick Google news search today showed me that the following products are being actively sold to Gen Y:
- Sydney Australia’s 2GB radio station – marketing a new young reporter to shake up the old-boys-club for news talk radio
- Hyundai Curb, Veloster
- Dell Streak 7 tablet
- American Express with Gen Y friendly ZYNC card – providing tips for Gen Y on finances in a program called “The Quarterlife Project”
- 2011 Acura TSX for young parents
- Progressive is trolling for Gen Y employees
- Executive coaching services
- Financial planning services
While technology plays a large role in this list, I don’t see clothes, video games or other expensive toys making the list – Ok maybe the tablet counts as a toy, but barely.
Predominantly, I see financial and career services dominating the list of what’s hot for Gen Y right now. This coincides with the oldest Gen Yers reaching their late 20’s and early 30’s – prime career growth time. Not all Gen Yers are interested in starting a family, but generationally speaking, the oldest are now also becoming parents with household finances to manage on top of a career.
It took until at least page 2 and 3 of Google search results for the “Gen Yers are slackers”-type posts to start appearing. Ironically, we’re still slackers, but yet have money to spend. I think there’s a disconnect there. Though some Gen Yers might have family money to burn, I think these days it’s more likely Gen Yers worked for it.
We’re a motivated and driven generation, and we’ve long ago fallen out of the nest. Finally the rest of the world recognizes it.