Monday, July 23, 2007
The Difference Between X and Y
I attended a confrence and the day began with a presentation by trend guru Jane Buckingham of The Intelligence Group. Buckingham spent the time describing the difference between Generation X and Generation Y, stating that some marketers tend to group them into the same target but there are glaring differences.
We'll start with what shapes Generation X (born between 1965-1979):
One out of two families divorce, world of decay, threat of death (AIDS, gangs and violence).
They are pessimistic, realistic, independent, "savvy yet skeptical," and nostalgic. They feel a need to bring back the past since this generation lacks stability, they recycle trends, clothes styles, even drinks selections (the martini & cosmo), and feel that there is no guarantee in finding happiness and success.
What shapes Generation Y (born between 1980-1992)
-Believe that they can do things on their own -- starting their own business at 15, want to be famous because they think that they can because of shows like "American Idol"
-They have role models – they don't just look up to celebrities, they look for good elements in real people
-They are individuals, hopeful, entrepreneurs, optimistic, and "smarter than you."
-Extremely STRESSED generation
They are also extremely hard to manage because they strive for so much.
To sum it up she gave a quick overview on what's hot for 2006 including ARG (Alternate Reality Gaming), experience clubs, organic food, comedy (Blue Collar Comedy Tour), interactive billboards and podcasts to name a few and left us with this thought:
"There is definitely a shrinkage of the teen market. Today, teens acts like they're 20, and tweens act like they are teens."
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