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Buyer Behaviour: Gen Y vs The Baby Boomers

Gen Y — those born from 1980 to 1994 — are now in jobs, realising how expensive houses are and possibly having children. The Baby Boomers — born from 1946 to 1964 — are getting closer to retirement and would have a peaceful life if the kids would ever leave home!

So, when it comes to consumer attitudes, can you run a marketing campaign that will win-over both generations? Probably not. Social demographer Mark McCrindle says there are five major differences between how Gen Y and the Baby Boomers make their purchase decisions. We talk though these differences in today’s BTalk.

If you’re confused by some of the terminology, here’s a useful breakdown I extracted from the paper “Seriously Cool” available from the McCrindle Research website.

  • “Builders” – born before 1946 – 3.02 million, 2% of workforce
  • “Boomers” – born 1946 – 1964 – 5.28 million, 36% of workforce
  • “Gen X” – born 1965 – 1979 – 4.64 million, 44% of workforce
  • “Gen Y” – born 1980 – 1994 – 4.65 million, 18% of workforce
  • “Gen Z” – born 1995 – 2009 – 4.22 million, 12% of workforce by 2020

First published on CBS News

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