Generation Y, Millennials, Echo-Boomers - Who are they?

Those born - roughly- between 1976 and 2000 are considered the Millennial, Generation Y or Echo Boomers. I have 2 children born 1979 and 1980 who seem to fit more into the Generation X group. Two more children, born 1991 and 1993 definitely fit into this Millennial group. They don't remember not having the internet, cell-phones or cable-tv. The "Generational Media Study" show there are 79 million in this group, compared to 48 million Gen-Xers. This is the largest generation of young people since the post-WW II Baby Boomers. They are already spending $170 billion a year (of theirs and their parents).

This group is high in un-employment, but since 1 out of 8 live with their parents - this doesn't seem to be a problem to them. Almost 40% of them have a tattoo, although 70% of those have them hidden under clothing.

Six traits of this demographic:

• Technology savvy - covered above.
• Optimistic, yet practical. They are prone to having specific goals, financially savvy, and don't like owing money. (However, they don't seem to mind living off parents) They shop for bargains or good deals at fair prices.
• Embrace Diversity. One third of this group identify as non-Caucasian.
• Belief in balance and fun. They like to be entertained, believe life should be enjoyable. They want responsibility but thrive on flexible work hours and creativity.
• Environmentally and socially conscious. They have grown up with the pervasive media environment touting 'green' and 'global' issues.
• Entrepreneurial. More than half of graduating Millennials believe they will own their own business in the future. Three out of four are from families with working moms, one in four has been raised in single-parent households.

All of these observations will make it interesting to see how our marketing will change to reach this youngest economic group. If these young graduates believe they will own their own business eventually, will that belief allow them to fit into their employers structure? Or will it make them rebel against the conformity expected of them. The fact that they are creative and fun-loving is bound to mean some exciting things to come in technology and entertainment. Whatever happens, be assured the Eisenlauer Team will still be ready to meet their real estate needs.

Bill at 770-2455 or Bob at 979-2883