By Tiffany Meyers
In many ways, an assessment of Boomers and their babies/grandkids (or the millions of young Americans known as Generation Y) is an apples-to-oranges prospect. The two groups have come of age in vastly different eras of U.S. history, consuming and creating different cultural touch points.
To compare the two generations, you’d have to compare the space race to MySpace, Earth Day to Green Day, the Mod Squad to the iPod, and so on all the way up to Watergate vs. Monicagate. Perched on (almost) opposite ends of the demographic spectrum, each group brings a unique set of needs to the marketplace as consumers.
All of this makes the traits they do share particularly notable. For one, these groups both live with a rather unflattering reputation for suffering from self-entitlement issues. Also from the Department of Blanket Statements, they’re said to view the future of the world through rose-colored glasses-particularly in comparison to the purportedly nihilistic Generation X that sits between them.
And of course, they’re two highly sought-after consumer sectors.As the two largest generational segments in the U.S., Boomers and members of Generation Y exert tremendous influence over the nation’s social, cultural and political landscape. Wielding formidable power and influence in economic terms as well, they’ve emerged as two of the sweetest spots for marketers pitching all manner of products and services.
The first thing to know about Generation Y is that it possesses more monikers than a demographer’s spreadsheet. In its roughly 30 years of existence, this group has been called Millennials, Reagan Babies, Generation Next, Echo Boomers and iGeneration, to name a few.