How well do you know Gen Y?
Here are some interesting points for discovery that get us thinking beyond what we think we know today:
- 59% update their social status in class.
- 29% find love through Facebook while 33% are dumped via TXT or Wall posts.
- Millennials watch TV with two or more electronic devices.
- Only 11% define having a lot of money as a definition of success
- Gen-Y will form 75% of the workforce by 2025 and are actively shaping corporate culture and expectations.
- Only 7% of Gen-Y works for a Fortune 500 company, while startups dominate the workforce for this demographic. Gen-Y expects larger organizations to hear their voice and recognize their contributions, increasing the need for an intrapreneurial culture.
- Millennials trust strangers over friends and family. They lean on UGC for purchases.
- They are 3x as likely to follow a brand over a family member in social networks.
- 66% will look up a store if they see a friend check-in.
- 73% have earned and used virtual currency.
- Gen-Y believes that other consumers care more about their opinions than companies do, which is why they share their opinions online.
- Gen-Y’ers are more connected on Facebook than average users, managing a social graph of 696 Facebook friends versus 140.
The Last Ten years
- 274 million American have Internet Access, which is more than double that of 2000.
- 81 billion minutes spent on social networks and blogs.
- 64% of all mobile phone time is spent on apps.
- 42% of tablet owners use them daily while watching TV.
- For the first time, the numbers of laptops have surpassed desktops within TV homes.
Women Rule Gen-C
In 2009, I discovered that in social media, women rule. As you can see in Nielsen’s report, women too rule Gen-C. Specifically, they rule social media, online video, and TV viewership. With smart phones, men and women are tied in adoption. With tablets however, men rule.
Mobile shopping activities include:
- 38% compare prices online while in shopping in a store.
- 38% browse products through websites or apps.
- 32% read online reviews of products.
- 24% search for or use online coupons.
- 22% have purchased a product.
- 22% scan barcodes for product or price information.
- 18% use location-based services to find retail locations.
- 27% of male and 22% of female consumers would use their mobile phone to make payments in restaurants and shops if they could.