INSIGHTS INTO GEN Y
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INSIGHTS INTO GEN Y. GEN Y. There are approximately 72 million Gen Ys Born between 1980 and 1995 and influence both generations before and after them (Gen X and Gen Z) Optimistic View the internet and social media as an extension of themselves They are what they share

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Insights into gen y

INSIGHTS INTO GEN Y


Insights into gen y

GEN Y

  • There are approximately 72 million Gen Ys

    • Born between 1980 and 1995 and influence both generations before and after them (Gen X and Gen Z)

    • Optimistic

    • View the internet and social media as an extension of themselves

      • They are what they share

      • They live in a fast-paced 24/7 society and have a fear of missing out (FOMO)

    • Group-oriented

      • They want to interact and share with all of their friends but also want to be recognized as an individual

    • Demand control

      • Actively give their opinions and want outreach to be customized to them and their feedback

*Supplemental findings from The Cassandra Report.


Insights into gen y

MACROS

Macro Trends are large societal trends that mark key shifts in Gen Y’s attitude and behaviors. These trends are often highly influential in their purchasing decisions.

  • Life Hacking is a direct result of Gen Y’s interest in repurposing existing products to fit their individual needs. It reflects their increasing desire to express their creativity and resourcefulness.

  • Real-Time Reflex is a reflection of the society Gen Ys live in. They expect and anticipate products and experiences to imitate their fast-paced lives.

  • The Milleniamalistsis a reaction to their overloaded lives. Gen Ys are looking to simplify and de-clutter.

  • A Curated Life demonstrates Gen Y’s need to be their own curators, both in their purchases and lives.


Insights into gen y

Macros – life hacking


Insights into gen y

Macros – life hacking

  • Implications

  • Provide opportunities for consumers to manipulate products in new and creative ways. Give them a voice by allowing them to contribute ideas.

  • Create guides and instructional manuals for how consumers can hack your products in order to make their own lives easier.

  • Build a platform for consumers to share their hacks with each other. Hacking is a community exercise and an opportunity to encourage brand evangelism.

IKEA HACKERS TOSS THE INSTRUCTIONS AND CREATE NEW FURNITURE ALL THEIR OWN

WORLD OF FOURCRAFT TURNED NEW YORK CITY INTO A GIANT GAME OF RISK WITH THE USE OF FOURSQUARE AND GOOGLE MAPS

TIK TOK, A GROUP THAT RECEIVED FUNDING THROUGH KICKSTARTER, CREATED A WATCH TO HOLD THE IPOD NANO

P.S. I MADE THIS BLOG AND BOOK FEATURES EASY PROJECTS TO RECREATE ICONIC FASHION PIECES

THE NEW YORK TIMES HOSTED A “TIMES OPEN HACK DAY” THAT CHALLENGED DEVELOPERS TO DEPLOY, HACK, CREATE, AND CODE IN 14 HOURS

THE RELEASE OF XBOX KINECT HAS UNLEASHED A CREATIVE GROUP OF HACKERS


Insights into gen y

Macros – real-time reflex


Insights into gen y

Macros – real-time reflex

  • Implications

  • Gen Ys have FOMO, (Fear of Missing Out) find ways to help them live in the moment and get a jump start on noteworthy events and products.

  • Develop your own real-time reflex to keep up with consumer conversations – monitor what they are saying and communicate to them directly.

  • Layer real time conversations, ideas, information and pictures into products, entertainment and marketing communications.

KATY PERRY ANNOUNCED HER LATEST TOUR SCHEDULE ON A FACEBOOK LIVE CHAT AND HAD AN HOUR OF AIR-TIME RATHER THAN A FEW MINUTES ANYWHERE ELSE

NET-A-PORTER & ZAPPOS HAVE ONLINE FEATURES THAT SHOW USERS WHAT PEOPLE AROUND THE COUNTRY ARE BUYING IN REAL TIME

MADDEN’S FOOTBALL VIDEO GAME CAN REFLECT PLAYER’S LOCAL WEATHER IN THE GAME WHEN THEY ENTER THEIR ZIP CODE

THE CANADIAN TOURISM BOARD INSTALLED LIVE VIDEO AND TWITTER FEEDS IN TIMES SQUARE TO SHOW WHAT WAS HAPPENING IN CANADA, IN REAL TIME

AUDI’S “PROGRESS IS” TWITTER CONTEST ASKED PARTICIPANTS TO DEFINE PROGRESS USING #PROGRESSIS. THE CONTEST INSERTED AUDI INTO THE REAL TIME STREAM

FOR HIS GOOD FRIDAY ALBUM, KANYE WEST RELEASED A NEW TRACK EVERY FRIDAY TO INCREASE RELEVANCE


Insights into gen y

Macros – the milleniamalists


Insights into gen y

Macros – the milleniamalists

  • Implications

  • Gen Y is overwhelmed by information- provide simple and straightforward packaging, clean websites and clear messaging that is easily understood.

  • Quality over quantity is important- products that are multifunctional, meaningful and have a low environmental impact will appeal to the Milleniamalist mindset.

  • Products that boast few ingredients and feel “intuitively good” will continue to gain popularity. As Gen Y streamlines their life they are looking for added value that supports their decision to purchase.

THINGS ORGANIZED NEATLY IS A POPULAR TUMBLR THAT FEATURES UNIQUE ITEMS ORGANIZED INTO INTERESTING DISPLAYS

MILINALISM HAS BEEN HITTING THE RUNWAY WITH DESIGNERS SUCH AS CALVIN KLEIN AND STELLA MCCARNETY FOCUSUING ON CLEAN, NUETRAL LOOKS

LOGOS ARE GETTING A REDESIGN WITH MANY BRANDS SUCH AS STARBUCKS MAKING THEIRS MORE STREAMLINED AND SIMPLE

FOOD PRODUCTS ARE TOUTING THEIR MORE NATURAL FLAVORS AND INGREDIENTS. HÄAGEN-DAZS FIVE FEATURES ONLY FIVE NATURAL INGREDIENTS

COOKBOOKS ARE BEING REVAMPED IN A VISUAL STYLE WITH WRITTEN DIRECTIONS BEING REPLACED BY PHOTOS

FASHION DIETS CHALLENGES CONSUMERS TO FOREGO SPENDING OR TO RELY ON A SPECIFIED ITEM OF CLOTHINGS FOR AN ALLOTTED TIME


Insights into gen y

Macros – a curated life


Insights into gen y

Macros – a curated life

  • Implications

  • Be a source of inspiration and expertise. Help your fans by delivering expert advice, opinions, and ideas that enable them to create A Curated Life.

  • Encourage consumers to show off their skills. Provide opportunities for shoppers to express their creativity through various social media platforms.

  • Be visible. Inject your brand into a variety of curated spaces both online and offline, such as popular blogs, online shops, galleries, or pop-culture events.

TRUNK CLUB IS A MEN’S SHOPPING SERVICE THAT SENDS CURATED OUTFITS BASED ON VIDEO STYLING CONSULTATIONS

HUNCH CREATES CUSTOMIZED PREDICTIONS BASED ON USERS’ INTERESTS

OPENSKY’S NETWORK OF CURATORS HANDPICKS AND SUGGESTS SALE ITEMS BASED ON THE USER’S FOOD, STYLE, HEALTH AND DESIGN INTERESTS

PERCOLATE FILTERS TRENDING SOCIAL MEDIA CONTENT AND PRESENTS THE MOST INTERESTING INFORMATION FOR INDIVIDUALS TO CREATE CONTEXT AROUND

SOCIAL SHOPPING SITE, SVPPLY, ALLOWS USERS TO ASSEMBLES PRODUCTS INTO WISH LISTS AND COLLABORATE WITH OTHER TASTEMAKERS

SHOPPING SITE, NUJI, LETS USERS COMPILE WISH LISTS INTO A COLLECTION AND SHARE WITH OTHER USERS WHO HAVE SIMILAR TASTE


Insights into gen y

DIGITAL INNOVATIONS

While the Macro Trends provide background for understanding the behavioral and cultural mindset of young consumers, the following trends focus on innovations in the digital space.

  • Facebook is constantly evolving and leveraging the “social graph” to provide customer experiences.

  • Crowdsourcing is a growing movement that impacts areas from fashion to nonprofit. This movement allows consumers to contribute their thoughts and ideas to peers and businesses alike.

  • Web and Mortar is the increasing evolution of physical stores integrating their environments with digital innovations.

  • Augmented Reality is helping to connect brands with consumers in new and increasingly unbordered ways.


Insights into gen y

FACEBOOK

  • Implications

  • Used correctly, Facebook can be a powerful platform for building brand equity and nurturing brand evangelists.

  • Use Facebook to provide experiences that are unique and different from your other online/offline offerings. Give current and potential fans a reason to engage with you on Facebook.

  • Let your fans know you hear them. Reward them with insider information, real-time feedback, and opportunities to receive special products, discounts, and experiences.

OSCAR DE LA RENTA DISTRIBUTED FREE SAMPLES OF A NEW FRAGRANCE THROUGH ITS FACEBOOK PAGE AND 25,000 SAMPLES WERE DELIVERED IN 3 DAYS

AMERICAN EXPRESS CARDHOLDERS THAT ARE FANS OF THE AMEX FACEBOOK PAGE RECIEVE SPECIAL DISCOUNTS BASED ON THEIR LISTED ‘LIKES’ AND INTERESTS

LEVI’S FRIENDS STORE USES FACEBOOK CONNECT TO ALLOW SHOPPERS TO SHARE AND EXCHANGE THEIR FAVORITE PRODUCTS WITH THEIR FACEBOOK FRIENDS

AFTER THEIR SUCCESSFUL FENDI CAMPAIGN, BERGDORF GOODMAN IS SEARCHING FOR THE FACE OF THEIR 5F COLLECTION USING FACEBOOK

FLAIR, THE BELGIUM MAGAZINE, INTRODUCED FASHIONTAG, WHICH LETS SHOPPERS TAG THEIR FRIENDS’ CLOTHING AND ACCESSORIES IN FACEBOOK PICTURES AND ASK RELATED QUESTIONS

NEIMAN MARCUS LAUNCHED RACHEL ZOE’S NEW COLLECTION AND ALLOWED FACEBOOK FANS TO ASSEMBLE VIRTUAL OUTFITS FROM THE INDIVIDUAL PIECES


Insights into gen y

Crowdsourcing

  • Implications

  • Tap into the power of the crowd to build a heightened level of collective engagement from customers.

  • Give your fans the power of influence. Allow them to contribute ideas and opinions for real products or services to be produced.

  • Provide a platform for participants to achieve something, whether it’s admiration for their skills, job opportunities, or a fantastic branded experience. Give consumers a reason to contribute.

IKEA INVITED ASPIRING FASHION DESIGNERS TO SUBMIT THEIR WORK TO WIN A FASHION SCHOLARSHIP

WRANGLER’S “NEXT BLUE” CONTEST ASKED PARTICIPANTS TO SUBMIT IDEAS FOR A NEW JEAN STYLE AND VOTE ONLINE TO CHOOSE THE WINNER

DESIGNER DEREK LAM PARTNERED WITH EBAY TO ALLOW CONSUMERS TO VOTE ON THEIR FAVORITE LOOKS AND DETERMINE WHICH WOULD BE SOLD ON THE SITE

WHERE TO GET IT IS THE SHAZAM OF THE FASHION WORLD. IT ALLOWS USERS TO POST FASHION LOOKS THEY LOVE AND THEN CROWDSOURCE THE SITE TO DISCOVER WHERE THEY CAN PURCHASE IT

PRIZES IS A SOCIAL CONTEST SITE THAT LETS PEOPLE OFFER REWARDS FOR QUALITY FEEDBACK TO USER SUBMITTED QUESTIONS

FASHION SITE “FASHISM” ALLOWS USERS TO POST QUESTIONS ABOUT THEIR OUTFITS TO THE BLOGOSPHERE FOR FEEDBACK


Insights into gen y

WEB + MORTAR

  • Implications

  • Maximize your brand’s reach among influencers. These digitally savvy shoppers will respond to tech-centric experiences and will be more likely to become brand evangelists.

  • Provide added value through unique, tech-enabled in-store experiences. Find innovative ways to reach “connected shoppers.”

  • Play up customer service. Utilize real world and virtual expertise, assistance, and inspiration to provide the best in-store shopping experience possible.

MEIJER HAS CREATED AN APP THAT HELPS SHOPPERS LOCATE OVER 100,000 ITEMS SOLD IN THEIR STORES

AT THE START OF THE JULY ANNIVERSARY SALE, NORDSTROM BEGAN USING MOBILE CHECKOUT DEVICES

USING MICROSOFT KINECT, TOPSHOP INSTALLED A SPECIAL KIOSK THAT LETS SHOPPERS TRY ON CLOTHING VIRTUALLY

SEPHORA CREATED AN IN-STORE BOUTIQUE THAT PROVIDES IPADS WITH HOW-TO VIDEOS AND ACCESS TO FACEBOOK, TWITTER, AND FOURSQUARE

STARBUCKS’ MOBILE APP ALLOWS USERS TO CHECK AND TRACK THEIR STARBUCKS CARD BALANCE AND PAY FOR THEIR DRINKS, DIRECTLY FROM THEIR PHONES

FOR DEBENHAM’S MEGADAY SALE, “TWITTER ASSISTANTS” ROAMED THE STORE WITH MOBILE DEVICES, RESPONDING TO SHOPPER INQUIRIES VIA TWITTER HASHTAGS


Insights into gen y

AUGMENTED REALITY

  • Implications

  • Augmented reality provides high-impact, memorable experiences that can be leveraged to break through the clutter and enter the social conversation.

  • Simplifying and personalizing the shopping experience helps build brand loyalty and increase consumer engagement.

  • Create opportunities for consumers to build social capital by providing content that they will want to share across social media platforms.

AIRWALK USED AUGMENTED REALITY TO CREATE VIRTUAL POP-UP STORES

CONVERSE CREATED THE SAMPLER IPHONE APP, WHICH LETS SHOPPERS TRY ON SHOES THROUGH AUGMENTED REALITY

BARNES & NOBLE PARTERNED WITH ESQUIRE MAGAZINE AND GOLDRUN TO CREATE A PROMOTION WHERE USERS TOOK THEIR PICTURES WITH BROOKLYN DECKER USING AUGMENTED REALITY

CB2 FURNITURE GIVES USERS THE CHANCE TO VISUALIZE FURNITURE IN THEIR HOMES USING AN AUGMENTED REALITY MOBILE APP

AURASMA IS A MOBILE APP THAT USES IMAGE RECOGNITION TO BRING PRINT AND IMAGES TO LIFE

USING A MOBILE APPLICATION, LUXURY RETAILER ZEGNA HAS CREATED A 3D VIRTUAL STORE WHICH CREATES A MORE INTIMATE ONLINE SHOPPING EXPERIENCE


Insights into gen y

NUJI

AURASMA

CONVERSE SAMPLER

AIRWALK POP UP STORES

HUNCH

PERCOLATE

augmented reality

a curated life

CB2

SVPPLY

TRUNK CLUB

B+N BROOKLYN DECKER

OPENSKY

IKEA HACKERS

ZEGNA 3D STORE

P.S. I MADE THIS

KINECT HACKS

TOPSHOP KINECT

STARBUCKS MOBILE PAY

Applying Gen Y Macro Trends to Retail

TIK TOK NANO IPOD WATCH

NORDSTROM MOBILE CHECKOUT

life hacking

WORLD OF

FOURCRAFT

web + mortar

NY TIMES

HACK DAY

SEPHORA IN-STORE BOUTIQUES

MEIJER STORE LOCATOR

OSCAR DE LA RENTA FRAGRANCE

TWITTER ASSISTANTS

PRIZES.ORG

FLAIR FASHIONTAG

IKEA GARDEROBE

crowd-sourcing

facebook

WHERE TO GET IT

AMEX DEALS

LEVI’S FRIEND STORE

FASHISM

BERGDORF GOODMAN 5F SEARCH

NEIMAN MARCUS STYLING

NEXT BLUE JEANS

DEREK LAM EBAY COLLECTION


Insights into gen y

INSIGHTS INTO GEN Y

As we’ve studied youth trends, behaviors, and preferences consistently over the past year, it has become clear that navigating the fast changing landscape has become increasingly challenging. From daily deals and group buying, and virtual dressing rooms to Twitter assistants, the new ways in which young consumers are making their purchasing decisions are evolving quickly, making them more unpredictable and elusive than ever.

Accumulating Facebook “likes” is one thing, but do you know how to keep brand advocates engaged beyond that initial click? What about crowdsourcing and augmented reality, taste graphing, life hacking, micro-funding, and image recognition apps? The means to consider creative new strategies are emerging quickly and constantly.

Our Insights into Gen Y presentation is designed to educate you on up-to-the-minute innovations and inform you of far-reaching Macro Trends that affect consumer behavior across all sectors of commerce. Covering the digital landscape and beyond, including best-in-practice marketing examples, the presentation is conceived specifically with the intent of inspiring you to conceive your own new ideas for how to deepen your business’s unique customer relationships.

Want to know more about The Intelligence Group?

Contact Jamie Gutfreund at [email protected]


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