Richard J. George, Ph.D.

BrainTrust Query: The Post-Crisis Gen Y Consumer

August 2, 2010

FROM RETAILWIRE:
Kit Yarrow, co-author of Gen BuY: How Tweens, Teens and Twenty-Somethings are Revolutionizing Retail, says Gen-Y hasn't cut back its spending as much as older generations. Do you agree that the recession ultimately will have little impact on the Gen-Y consumer's purchasing behavior?      [more...]

Based on my research of the Mature Millennials, I agree with the author's conclusions. In particular, I studied the food retail attitudes and behaviors of older Gen Y's (22 to 33 years of age). This group is in the process of career development, getting married and forming families. In many cases they are finding out that happy hour and dinner can be two separate events. They are very optimistic, feel a sense of entitlement, and are heavy users of social networks and online food shopping.

Research shows that this generation does not have the same attitudes/behaviors and will not spend on the same categories as their parents did. It may be the case that Mature Millennials will eventually behave like their parents and older consumers. However, at this stage of their life cycle their attitudes, lifestyles, and behaviors are sufficiently unique to suggest the development of specific marketing strategies and tactics by food retailers that will capture a greater share of their total food needs.

Food marketers who assume that the Mature Millennials will start to behave like current older Americans, just because they age, do so at their peril.