On NPR’s “Marketplace” this morning, the host asked a simple question: Who has more disposable income — Gen Y’ers or Baby Boomers? The answer surprised me. Studies show that the Gen Y population has more disposable income than their parents, the Baby Boomers.
The Millennial Generation, also known as Generation Y, generally refers to those individuals born between the mid-1970s and the late 1990s.
If you haven’t considered how to market your products and services to Gen Y, start today. If these individuals have the most discretionary income now, their buying patterns will be crucial both for today and as they begin to age.
One other fact of interest from this morning’s report. The question: Who has more social interaction online — teenage boys or teenage girls? The answer: Go for the boys!