They’re the largest demographic since the baby boomers, estimated to be three times as large as Generation X. By 2025, the income of Generation Y — also known as “Millennials” — will account for almost half of personal income, exceeding all other demographics in purchasing power.Download PDF
Even though we have considerable wealth to drive the economy, we’re sandwiched between two mega-generations, which makes it difficult for our wants and needs to be noticed. With limited marketing dollars to go around, it makes sense to market to the larger segments of the population. But brands that ignore Gen X do so at their own peril.
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The traditional life-stage model has been very useful for financial institutions and their marketers. But recent research suggests that every generation approaches their finances differently. Baby Boomers were significantly impacted...