Question

Who is Generation Y? From your research, what did you discover about this demographic?  Identify major trends that are occurring with this group that marketers/retailers would want to note. More specifically, how should companies market to this segment?  

remember to provide two links/References.

Answer 1

Millenials are also known by the category Generation Y. Ther are the children of baby boomers who were born in 1980s to late 1990s or even 2000s. Millenials have grown through the information revolution  and are well versed with the use of technology in their da to day lives. Most of them have either just started earning or would soon be earning. Being single and without much responsibilities, they are likely to have a higher disposable income. They are more fashion and image conscious than their previous generations, and have more liberal attitude towards social issues. They are well connected to the world through their electronic devices and are present in most of the social media platforms. They have their own circles and networks which keep on increasing with time. For marketers, they are very important segment, which can't be overlooked. They are largest consumers of high fashion accessories, lifestyle products, electronic gadgets, vehicles and a number of different services. The generation Y needs to be marketed through social media and other electronic means which is more efficient as well as cost effective. The companies can also leverage on their social grouping behaviour to build reputation among the group members to drive sales.

Ref.

https://www.kasasa.com/articles/generations/gen-x-gen-y-gen-z

https://www.theguardian.com/world/2016/mar/07/millennials-generation-y-guide-to-much-maligned-demographic