Identifying Generation Y

Who is Generation Y?

I've since forgotten the finer details of my MBA lectures regarding the Silent Generation (those born before 1946), the famous Baby Boomers (our parents - born before 1959), and then us - Generation X (born between 1960-1979).

Generation Y or the Millennial Generation (born from 1980 onwards) are a truly different speciment, much more so then the differences noticeable between the preceeding three Generations. Their first mayor memory will probably be of the death of Princess Diana, the fall of the Berlin Wall, or maybe even the 1986 challenger explosion. According to the January 2006 newsletter of the National Association of Women Law Enforcement Executives, statistically speaking, “antidepressants, prescription medication and other behavior-altering drugs, such as RItalin, [making] Gen Yers the most medicated generation in history.” See, they also grow up in increasing socio-economic instability and tragedies, and their parents solve their trauma by sending them to psychologists and putting them on drugs prescribed by society.

This crowd grew up with technology, with rapid change, and in culturally, socio-economically, and politically diverse environments. They are young, affluent, educated, brass, very independant due to their parents generation's high divorce rate, and empowered. They are excellent networkers and travelling is not a big deal to them as it was to their parents' parents. They have a wide perspective of the world and are knowleagable of other cultures.

Gen Y grew up with the Internet, immersed in the digital world. What Gen X experiences as an information overload is no problem to them. They are used to intense multi-tasking: Texting while in a conversation, while listening to music on their iPod, while surfing the Internet. Texting, gaming, social networking, the use of hand-held devices, and the dissemination of personal information is part of their daily life.

They are less racially intolerant and more accepting of alternative lifestyles. They have much shorter concentration spans - one reason why the printed newspaper is dying. However, things have come easy for them and they get easily aggitated if things doesn't go their way. Ever seen a kid impatient with a slow Internet connection?! Or angry that a call dropped that was made halfway around the world?! The mere existance of the technology still amazes me!

Very importantly, being the first generation to grow up with the Internet, they have blogging, micro-blogging, texting, YouTube, Facebook etc - this Generation has an opinion about issues, brands, and corporate malpractices. They have a voice. Mainstream pop-culture has made them very aware of brands and issues, especially non-profit topics and grassroots development issues.

According to recent studies, approximately 95% of Gen Y in the US are registered on one or more social networking sites. They are financially savvy, more so then their parents. It is folly for marketers and communicators to ignore them. The landscape has changed.