Tag: Gen Y

Here's How to Motivate Your Younger Employees

Are your youngest employ­ees feel­ing unmo­ti­vat­ed? The lat­est Deloitte Mil­len­ni­al Sur­vey reveals that work­ers under age 35 want spe­cif­ic actions from the lead­ers who run their places of employ­ment.

Women Make up 14% of Motorcyclists in the U.S.

"'We are not sur­prised that female motor­cy­cle own­er­ship is at an all-time high, what with the work we’ve done to expand women’s pres­ence in motor­cy­cling,' reports Motoress. A sur­vey (2015) done by the Amer­i­can Motor­cy­cle Indus­try Coun­cil (MIC); Motor­cy­cle Own­er Sur­vey found that women account for 14% of all U.S. motor­cy­cle own­ers. This is up from the 8% report­ed in 1998. It’s real­ly no sur­prise, that’s near­ly two decades ago."

Brands Aim for Guru Status with Gen Y Shoppers

Tar­get­ing prospec­tive cus­tomers sole­ly by age group has fall­en out of fash­ion as mar­keters have been able to more clear­ly iden­ti­fy audi­ence attrib­ut­es in recent years. Age does mat­ter in some cir­cum­stances, though, espe­cial­ly in terms of the rela­tion­ships con­sumers have with brands. The GfK Brand Bench­mark Study reveals that Gen X and Gen Y con­sumers val­ue brands dif­fer­ent­ly, large­ly because of the cur­rent life stage they are in, and smart mar­keters are seek­ing spe­cif­ic kinds of rela­tion­ships to max­i­mize rev­enue with these poten­tial cus­tomers.

Practicality Divide: Boomers More Focused on Price, Gen Y Values Social Experience

Val­ue and prac­ti­cal­i­ty are at the core of any shop­ping expe­ri­ence, but beyond the basics, shop­pers are look­ing for self iden­ti­fi­ca­tion and nov­el­ty. More­over, retail rel­e­vance fac­tors vary sig­nif­i­cant­ly by age with the biggest dif­fer­ence between Gen Y and Boomers. For the next gen­er­a­tion of shop­pers, share­abil­i­ty of the expe­ri­ence is much more impor­tant, as the ide­al shop­ping expe­ri­ence is both self-affirm­ing and social.

Consumers Shifting Buying Patterns, Splurging on Luxuries

Con­sumers at all income lev­els have been splurg­ing on indul­gences while par­ing down on many basic house­hold expens­es, accord­ing to indus­try data for the last year. Ana­lysts sug­gest these changes could sig­nal a per­ma­nent change in con­sumer buy­ing pat­terns. Indeed, the changes and chal­lenges rep­re­sent­ed in this new kind of con­sumer will con­tin­ue to keep retail­ers on their toes and, per­haps, force them to rethink how they approach their busi­ness.

Financial Services Firms to Boost Retirement Plan Marketing to Gen Y Workers

It’s too soon to know if Social Secu­ri­ty will be around to pro­vide a safe­ty net to the youngest employ­ees in the work force. But retire­ment plan­ning experts see trou­ble on the hori­zon with respect to the fis­cal plan­ning tak­ing place by mem­bers of the Gen Y demo­graph­ic, those who are cur­rent­ly between the ages of 18–30. Finan­cial advi­sors can start work­ing now with employ­ers to help guide employ­ees to the right strate­gies for retire­ment sav­ing.

Gen Y, Not Boomers, Will Lead Consumer Spending Out of Recovery

Accord­ing to a new report from Price­wa­ter­house­C­oop­ers LLP and Retail For­ward, con­sumer spend­ing in the months ahead will be shaped by the val­ues of tech-lov­ing Gen Y, and to a less­er degree, afflu­ent mem­bers of Gen X. Unlike recov­ery peri­ods in pre­vi­ous decades, Boomers will not lead the way in con­sumer spend­ing. There are con­sid­er­able gen­er­a­tional dif­fer­ences; among Gen Y con­sumers, between 18 and 27 for this report, just 25% say the econ­o­my has sig­nif­i­cant­ly changed their shop­ping behav­ior. Among Gen X, it's 36%, and among Boomers, 37%. Retail­ers need to adapt their strate­gies to appeal to this new gen­er­a­tion of con­sumers.

Majority of Gen Y Internet Users Bank Online

Near­ly one-half of Gen­er­a­tion Y Inter­net users planned to sign up for a new finan­cial account in the next year, accord­ing to research from finan­cial tech­nol­o­gy provider Fis­erv. They are also more like­ly than any oth­er gen­er­a­tion to con­sid­er switch­ing banks and to rec­om­mend their pri­ma­ry bank to oth­ers, mak­ing them an attrac­tive tar­get for finan­cial ser­vices mar­keters. With 80% of Gen Y Web users bank­ing online, they are com­fort­able per­form­ing finan­cial trans­ac­tions and lead the way among con­sumers mak­ing online the top bank­ing method in the US.