Born and raised at the same time as the internet boom, the Y generation changed consumption habits and became the most important customers, forcing the market to adapt products, services and concepts.
Who are the “Y” ones ?
People who were born between 1980 and 1990 are considered the Millennium, internet or rather the “Y” generation. All these names remind the same group of people raised playing video-games and accessing the internet. They were the first ones to have their lives changed due to the amount of information received at the same time.
The Y generation is capable of receiving and organizing more than one information at the same time, something that people born before the internet boom usually can not do. For this reason, these new kind of customers needed different marketing approaches, but understanding what they want is not so simple.
The Millennium generation changes some habits according to their social class. In Brazil, 68% of them live with their parents, but normally only classes C and D need to contribute with the family budget.
The internet generation is the one that presents the major historical scholarship attendance between young people in the world, what means that they are better prepared and better informed than the ones who came before them.
What have they changed?
The internet natives are different in many ways. They don't think about a career plan, for example. This generation focuses on work and getting money, instead of being a ten-year brilliant employee. Such behavior is caused by the ambition of growing fast, without necessarily having to work for several years in order to achieve success
Technology is the most important change brought by the “Y” generation. The technology campus was available only for industries, armies, and a few appliances. The Millennium generation was the first one that actively used technology on a daily basis .
Communication is another important point about this group. They contact people all the time, exposing their lives, sharing news and also complaining about unsatisfactory services. If nowadays you have the freedom to access and share information easily, thank the “Y” generation.
It is a liberal generation talking about new consumption habits, but when socially studied they show themselves conservatives. It is easy for this generation to accept new kinds of products and technologies, but they still see traditional values - such as marriage - as something important to achieve happiness.
What do they buy?
As mentioned before, the “internet babies” are directly linked to technology. According to researches, they are the ones who mostly buy technological devices and also who determine what sells and what does not sell; what becomes trend and what dies in the market. Lately, the most bought products by this generation are the ones that provide technology and information at the same time. Tablets and Smartphones are the most required ones.
Nevertheless, it is wrong to think about the Millennium generation as people that only think about social networks, technology and fast information. They are the ones that mostly travel and attend to theaters, bars, and parties. They are present in every piece of the market, transforming news in trends.
The Y Generation in Brazil
Brazil's Millennium generation has some particularities due to the country social conditions. Researches point that 43% of the internet natives in the country belong to class “C”, spending R$ 49,00 every week. This money is mostly spent in entertainment, clothing and personal hygiene; however, only 16% of them are inserted in the market, therefore, they are potential customers.
The Y generation in Brazil has as an important life purpose to achieve social inclusion, what means that they are worried about money and personal satisfaction. The good point about this generation, perhaps, is the idea that they have their family as priority, even in their leisure moments.
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