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Are You Looking for Gen-Y? Or Are You Waiting to Be Found?

Written on October 6, 2010 by Josip Petrusa

It’s becoming more obvious and apparent that traditional marketing and advertising efforts are not yielding the same traditional results. And this is something I’m been preaching for a while. We, Gen-Y, are different. It’s just that plain and simple. No matter which angle you approach it at, or what perspective you choose to believe, you would be a fool not too know that this generation is different.

For some reason, there is much dissent and debate to how strong these differences really are. And if anything at all, is Gen-Y that much different from everyone else. Truly, you would have to be blind not to understand the hurdles Gen-Y has created, both actively and passively.

The reality of the situation is that in a whole new world old tricks don’t necessarily always apply. With many aspects of the internet such as social media and video streaming, to the rapid emergence of the mobile sector and even the changing state of television, simply keeping on the same marketing and advertising path will lead you to over-expenditure of budgets compared to earlier years.

The issue at hand here is whether you are actively looking for your Gen-Y customers and consumers or whether you are simply waiting for them to come to you. Not only is this distinction imperative to understand, playing hide and seek with this generation can be extremely costly. We look where we choose to look. Not where you tell or want us to look.

We’re no longer subject to simply watching TV and waiting for the commercial to be over. If I’m not watching TV, I’m on my laptop. And if I’m not on my laptop, I’m on my BlackBerry. And if I’m on my laptop and BlackBerry, I’m not watching what’s on the TV. The most fascinating point in all of this is the only advertisement I remember is the cute one my girlfriend posted on my Facebook wall.

It’s fascinating because like most members of Gen-Y, I’m always connected with the platforms of TV, the internet and mobile. In any situation, we’re most likely on one of the three. And when it comes right down to it, I can hardly recall a time when a friend wasn’t more influential than an ad. If you want my opinion, you should hire Gen-Y to reach Gen-Y.

Nothing stands out more on Facebook, Twitter and LinkedIn, well in any circumstance, than a personal touch. Amidst all the clutter and noise, you have no choice but to eventually become personal in your relationships. Whether you like it or not, you’ll have to make that effort. It’s never good to assume anything, but just like everyone assumes the internet provides the answers to everything, everyone also assumes that everyone else is “social”. And this is slowly catching on with in the world of apps. “How come they don’t have an app?!”

So if you’re waiting to be found by Gen-Y, there’s a really good chance you’ll slip through the cracks. It’s not about presence. It’s about engagement. With everything we have technologically available, we actually know about everything before it comes out. And we’ve already made our decision before you’ve even began advertising to us. And we’ve made our decisions known to everyone around us. It’s an interesting cycle and endless cycle.

I’m not the doom and gloom type nor am I suggesting Gen-Y is unreachable. In fact, this is probably greatest moment in time when you can actually reach who ever you like. And it’s not an issue of great content. Great content has always existed. You just have to jump into a Gen-Y frame-of-mind. You have to be interesting, different and use what we use. You have to come looking for us.

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Using the Millennials to Your Uncharacteristic Advantage (Part 2)

Written on October 1, 2010 by Josip Petrusa

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The Millennials have had an unprecedented impact on just about everything. Their behaviour, actions and mode of thought are significantly different from anything we’ve seen before. And as I suggested in my previous article, the strength of the Millennials is more profound than often perceived. While they create a digital gap between themselves and their parents at one moment, they at the same time close that gap by actually being the providers of technological necessity.

Though the parents of Millennials are amongst the largest growing segment in area’s such as social media, they do not hold that same inherent behaviour and savyness that Millennials bring. As I alluded to in my previous article, though you might not understand the technological behaviour of the Millennials or even agree with it, you will undeniably use their strengths when needed. And as a result, they’ve single-handedly become the biggest influencers of their parents and those seeking answers Millennials can quickly find.

Beyond this, Millennials hold an established and significant level of influence over their Millennial colleagues. From aspects such as personal opinions, shared emotions, growing networks and instant communication, their level of influence on each other is overwhelming.

The traditional friend-to-friend, acquaintance-to-acquaintance and even person-to-person influence was always reserved for those few individuals you would always interact with. Just 5 years ago, before the mainstream boom of social media and mobile devices, our group associations were smaller, more intimate and based on established relationships. But thanks to technological advances, everything has been redefined and amplified.

Though the value of relationships has stayed the same, the way we approach and build them has changed forever. Just 5 years ago, our influence would only reach those simply around us on a daily basis. Now, each individual, each Millennial is a network in themselves. At any given moment, each Millennial is being influenced by the hundreds of different networks that are encompassed within all their supposed friendships.

From the ongoing publicly viewed conservations, shared thoughts and experiences, and pure but simple personal opinions, these characteristics have become the growing and defining moments of many of our decisions. As a result, the slightest influence will either persuade or dissuade our decisions and choices. By no means should we be considered naïve. Rather, we’re merely highly informed to just about everything that happens.

This should be no wonder as Millennials lead the way in many areas of social networking and mobile phone usage. The value and significance is known. And success always sounds like stories of lore from times past, since no one has been able to truly keep a sustainable effort. There have been flashes of brilliance with viral marketing campaigns. But like biological viruses themselves, these viral successes come and go only to be talked about as “remember when…” thought pieces for the future conversations.

What we know is that Millennials connect, share and absorb. Yes, absorb. To borrow a misquoted line from the Field of Dreams, “if you build it, [he] they will come.” And as usage rates increase in just about every field with the Millennials, the analogy does relatively hold true. So how do you penetrate the Millennial mind? How do you influence these influencers from the inside?

The reality is there is no straight answer but that shouldn’t suggest it can’t be achieved. It’s rather difficult to market and advertise to us because we’re looking where we want to look and not where you want us to look. A starting point would be to think like a Millennial. Understanding what values Millennials hold would be the next step. But the underlying factor in all of this is that Millennial-to-Millennial influence can’t be de-emphasized or misunderstood. Good or bad, the Millennials networks will decide everything for you.

Everything is always just one Facebook share, one tweet, one text away from a decision.

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Using the Millennials to Your Uncharacteristic Advantage (Part 1)

Written on September 28, 2010 by Josip Petrusa

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Understanding that today’s youth is growing up technologically advanced really is no big secret. The boom in social media and mobile devices amongst other technological advances has not only defined a generation, it has created a generation of digital natives. And at the same time, these digital natives, the Millennials, have redefined the world we live in.

It should be no wonder that my grandfather is in awe of my incessant BlackBerry use. Nor should I be surprised that my parents understanding of the internet is significantly different from my understanding of it. What is seemingly natural to us is so obviously alien to them.

But in the midst of everything, a sense of organized chaos has begun to emerge. Though my grandfather and parents are impervious to adapting to my way of life and though they will only ever be minimalist, at best, of the things I use, they, along with many others, have found a way to effectively use what Millennials use everyday.

Naturally and historically, our learning patterns have always had a top-down approach. Our parents would teach us. Our teachers would teach us. Our jobs would teach us. Well you get the point. There was always a sense that we would learn from an already established source. With that being said, the Millennials have unmistakably become this established source that many of our elders will learn from.

Always being connected, always sharing and always absorbing information, it would be undeniable to suggest that Millennials don’t know a trick or two their parents aren’t aware of. After all, Facebook was invited by a group of Millennial for Millennials. Smart phones were once considered instruments of professional business women and men, and have since been brought into the mainstream by a generation of exuberantly minded youth.

Realistically, a Millennials way of life will never truly be incorporated by many of those older than them. However, should the need arise, of which it has become a growing and continuing need, my grandfather, my parents though themselves not inclined to many technological aspects have me as a means to an end. Millennials, and myself included, have become the biggest influencers of our parent’s generation.

And as our parent’s generation, the Baby Boomers, still represent one of the largest portions of the population with unquestionable spending power, the Millennials can bridge a gap advertising and marketing really can’t fill when it comes to all the modern advancements that are occurring. Those mediums simply create a sense of awareness. However, at that same moment, Millennials already have the inside-scoop. Forget about the sales woman or man, Millennials have become the sales personnel for their parents.

Their influence comes at a time of rapid change. To suggest that all those older than the Millennials aren’t “in the know” would be a mistake. But it would be a mistake not to know that Millennials have an unprecedented influence on their parents. After all, we’re on pace to own more materialistic objects and consume greater amounts of information than ever before. Not only have I single-handedly owned more cell phones than my parents combined, I’m aware of information and sales and deals and anything else before it even becomes a thought for them. It’s not that our parents aren’t capable of doing the same. In many instances they are. They just simply don’t have to be. Especially when we, the Millennials, are their children.

Stay tuned for Part 2, when jump into deeper, more creative and adventurous waters.

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Advertising to Millennials Online: What You Can’t Afford to Do

Written on September 16, 2010 by Josip Petrusa

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With the sophistication of technology and media outlets, our want for control, demand, diversity and simply, our ability to do what we like when we like has clearly increased exponentially. It’s amongst the many reasons that have made the internet and online world such an alluring destination. It has become a growingly powerful untraditional location for all traditional media. An environment that the Millennials can most certainly resonate with.

The internet has undoubtedly provided something that can’t be compared to anything else available. It’s use can resemble the same sentiment. And once you consider the fact that 93% of those aged 12-29 go online, you begin to unfold the abundant potential the online world has to offer. A potential no advertiser or marketer can afford to avoid or not understand.

As the years have gone by, I don’t think there’s a doubt in anyone’s mind that advertising would have increased online. Not only is it poised to grow immensely within the coming years, between social media, online video, live streaming, sharing, tweeting and connecting, the ability to reach anybody has become absolutely priceless. But it’s hardly as straightforward and unproblematic as it appears to be.

Online advertising has taken on the very mediocre role that we’ve always understood traditional advertising to be. It really hasn’t changed from what we’ve seen on TV or in print. And other than a few success stories, there really isn’t that much glamour in what we currently see. Not only is this a lacklustre attempt to advertise, it’s the reason why online advertising dollars don’t nearly bring the dollar ratio traditional outlets do.

The reality is traditional advertising can’t function in the same manner online. With numbers increasing dramatically in the online video space for Millennials, there is a clear indication that their toleration and threshold levels are cause for concern for advertisers. Of those aged 18-24, 6 minutes of advertising seems to be the appropriate threshold level for an hour of online TV video. Interestingly, this is 50% more than all audiences currently view in online advertising per one hour of online TV video.

For all you wide-eyed opportunists, although these numbers seem inviting, they should be taken conservatively. Ad sensitivity varies drastically within this group. On one hand, 20% of 18-24 year-olds believe 10 minutes of online advertising is still “minimal” however on the other hand over 80% believe 10 minutes is “long enough”.

Though those numbers represent the online TV viewing demographic, something the Millennials highly represent, the thought process can be applied to ad sensitivity across all online mediums. The reality is Millennials have varying toleration and diverse threshold levels when it comes to online advertising.

Equally, there are few who are reinventing advertising with everything that is available. You have to advertise through social media in the spirit of social media not in the spirit of advertising. And the same can be said for many other areas.

Interruptive and intrusive are closed immediately. If I’ve gone to your website, I came there for the content not for the advertising. And if I have to choice but to view it, I’ll do something else in the meantime. Online ads are so easily circumvented. You have to understand that the Millennial are never simply doing one thing at a time. So why do you continue to advertise to us as if we do one thing at a time?

The reality is that although there is room for online ad growth, which will continue to grow, the Millennials don’t easily mix with it. There are so many online alternatives and so much happening at the same moment that Millennials can simply disregard everything you throw at them. This is not TV. We don’t have to wait to see what happens after the commercial. This isn’t a magazine where we have to flip through the pages to get to the story we want to read.

Is blanket advertising easier? Of course it is. Unfortunately understanding the online world isn’t as simple to dissect and comprehend. Traditional advertising revolves around the premise that most of us do and act in a particular manner, something of which is not the case in the online world. There are so many more factors involved than merely staring at the screen, since we’re probably staring at our smart phone screen just as often.

Simply ask any Millennial what they do online. After they tell you, you’ll see why it’s easier to simply advertise to “everyone”. Anything more specific will take extra effort. You’re all already spending more on online advertising than you really should be. And you all know those same advertising dollars don’t bring in the same returns from years past. So forget about traditional. Think Millennial. You won’t be able to afford to do it otherwise.

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7 Quick Ways To Think Like A Millennial

Written on September 10, 2010 by Josip Petrusa

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It’s always fascinating to watch companies, products and brands trying to target Millennials. Yes, we YouTube, Facebook, text, share and connect, but just because we do it shouldn’t suggest that if you do it we’ll necessarily tag along. Just like you shouldn’t assume that if we “like” a Facebook page, it gives you permission to go beyond that and clutter our news feeds. If we wanted all that clutter, we would’ve asked for it.

With all that being said, many miss the target when going after Millennials. Simply, it’s because they’re not talking, thinking or acting like Millennials. Here are 7 quick ways to get you thinking like a Millennial. I’ll admit, they’re a little broad. But be creative. Be open-minded.

If it’s slower than a text message, it’s too slow.
We’re highly optimistic, seemingly regardless of the situation. Don’t deceive us, but do give us something to be optimistic about.
We sleep with our smart phones. We eat with our smart phones. We go to the washroom with our smart phones. Well, you get the point.
There’s some great and cool technology out there. Use it.
Chances are we’re doing more than one thing at a time. So why do you market and advertise to us like we’re only do one thing at a time.
Any situation we’re in could possibly warrant us to tell someone else about it. Give us something good to talk about. And don’t worry, we’ll make sure to tell everyone about the bad.
Don’t interrupt our daily processes. It would be the equivalent of us interrupting you while you’re speaking. It’s, well, rude. But hold on a sec, I have to send this message…

Targeting the Millennial market is by no means an easy one. Will every suggestion we give ever really be taken into consideration and put forward? I doubt it. But if you’re smart about it, there are a series of clever and non-traditional ways that can be used, aside from the over-emphasis on social media marketing along with other obvious and quickly drawn conclusions. Effort is definitely being wasted in many area’s and missed in others. Though these 7 points don’t necessarily represent all that there is to know about Millennials, but they most certainly give you something to work with. Just remember, think like a Millennial. It’s easy, isn’t it?

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The Millennials Uncanny Ability to Absorb

Written on September 9, 2010 by Josip Petrusa

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Today’s post originally began as a response to a colleague’s request. Sidneyeve Matrix commented on my previous blog post suggesting my “observation about ‘the uncanny ability of Millennials to absorb’ deserves a separate post,” and that she would like to see my analysis on this behavioural trend. And though I myself replied that the posted would be finished yesterday, after I began writing, a whole can-of-worms seemingly opened up. So enjoy!

We’ve all heard about the many characteristics that make the Millennials something of a unique bunch. From their psychological make-up to their technologically advanced environment and web-savvyness, to say the world has never seen a generation like this would almost be an understatement.

The course of visible change that has occurred in this decade compared to the last is extraordinary. And we’ve already become highly adapted to these evolutions and advances within our daily environments. Though there might be a few arguable similarities, there should be no doubt in anyone’s mind that there are clear differences in the way members of Gen-Y have grown up and are continuing to grow up.

The Last 5 Years or So…

The world we see today is drastically different from that of even just 5 years ago. Well, let me rephrase that. The Millennial’s world is drastically different. How could it not be? Many aspects of daily Millennial life have never been daily aspects of life before. From how Millennials interact with media, to their social media life, understanding how they value brands, and understanding their personal extension and fascination with mobile devices, it’s absolutely amazing to see that all this has happened over the last 5 years or so.

But once we take a step forward, these worldly changes themselves are already in the midst of change. Mobile devices are moving away from cell and feature phones to a world of smart phones, pads and tablets. I’ve already read and seen dialogue for “super phones” amongst current smart phone makers.

Social media fatigue and our constant want for communication has pushed our notions of “sharing” to notions of “connecting”. Don’t get me wrong, we’ll continue to share but we’ll be more concerned about connecting and communicating.

And how could we almost forget about how much more strategy is necessary for marketing to Millennials, instances of un-sponsored Millennials seemingly promoting brands by themselves, more Gen-Y involvement in product and brand success, and how they’re shifting the retail environment.

With the world changing around them, the Millennials have reacted and adapted. And they will continue to constantly react and adapt. But will you be able to match them?

Sharing, Connecting and… Absorbing?

There is no denying Millennials go online and frequent social networking sites. 78% of those aged 18-34 use social media. Equally mobile habits have also increased greatly. And rather than going into this, I implore you view this list of Millennial facts, which provide great online, social and mobile insights. Along with this, there is a series of continuing and growing statistical insights that shed light into this generation.

Millennials are avid YouTubers. While 13-17 year-olds represent 21%, 18-34 year-olds represent 36% of YouTube’s viewing audience, combining for a total of 57%. Of which, they had a significant viewing impact to the over 5.7 billion videos were streamed in the US just this past June.

Further, live streaming video has grown a significant 600% over the last year, with YouTube and Hulu increasing 68% and 75% respectively. And though live streaming itself still represents a small audience compared to others, a year-over-year gain such as this shouldn’t be overlooked. Equally, live streaming sites are 72% more likely to deliver to 18-34 males, who also represent about 30% of the total live streaming video audience.

Additionally, online video shouldn’t be mistaken for traditional TV and video content. With that being said, 41% of 18-34 year-olds watch live TV. With DVDs representing 15%, DVR at 12% and streaming video, via Netflix type sites, is at 7%. With 29% of those aged under 25 watching all or most of their TV on the web.

While all this is occurring, a full 15% of teens aged 12-17 and 18% of those aged 18-24 send over 200 text messages a day, which is about 6000 a month. Not to mention, the amount of emails, social media messages and the BlackBerry BBM use that might be occurring, amongst other forms of communication. And though 200 texts seems excessive, 29% of those same teens send over 100 text messages a day.

Call all this what you like. Sharing, connecting, or viewing, it can’t be denied Millennials are absorbing everything in their path. We have the executive decision to choose what we like. 5 to 10 years ago many of these numbers and aspects didn’t exist. And though they may have been using all this in some form then, the distinguishing fact here is that even though traditional outlets may have decreased they haven’t decreased to such a extent that everything else has been replaced with some new alternative. Rather, many of those levels still remain high while Millennials absorption of new-age technologies have been compounded on top.

Millennial Absorption

In the midst of writing my last blog post, I came across a Millennial theory that “rather than a sense of forward expansion, we’re seeing re-absorption and re-emergence of times past.” The impact of Millennial absorption is due the fact that Millennials are staying up to pace with everything that is being offered to them. As a result, Millennials themselves have reverted to absorbing many other aspects of what is currently available to them.

Even then new isn’t necessarily good enough. It’s the reason many of us watch classic sitcoms and re-runs. Or we simply watch an older DVD. Or spend our time online. Or download something. Or text. Or combine it all in one form or another. We do more while doing more. We are everywhere but we can’t be found. I can imagine how marketers, advertisers and brands must feel. At any given time, we can be online, watching TV and/or using our smart phones but you can’t reach us. Frustrating, isn’t it? There has been no greater time than now to have and execute the abilities of control and choice.

What’s most fascinating about all of this is the notion that all our sharing, connecting and viewing can actually be based on the premise of absorbing information. The Millennials have an uncanny ability to absorb. And much of what we do is done for the purpose of other individuals absorbing our information while we at same moment absorb what others have provided us. It’s a very cyclical and branched methodology. We do things to evoke a response, big or small. It’s the reason why we strategically share online. It’s the purpose behind everything we do. Why tweet? Why update Facebook? We all want people to see what we put up. Why bother otherwise? Why text if no one will text back?

But how much can we take? Like sponges, can we only absorb a certain amount of information? Will we ultimately over-flow and drown ourselves in content? Recent research shows our current lifestyle is changing our neurological processing patterns. So does that mean our minds will evenutally burn-out? Or continue to adapt and evolve? Call it a sense of higher sophistication, growing intelligence, need for attention, curiosity for the unknown or whatever else you like. One thing is for certain, as long as there is an urge, a need and a want for absorbing information, Millennials will continue to do what they do best. The question is, will you be able to keep up with them?

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Will The Millennials Out-Run Technology?

Written on August 31, 2010 by Josip Petrusa

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For all the negative acclaim Millennials receive, I may be pretentiously adding another “negative” characteristic to the list. To think that the Millennials are dictating technology as opposed to technology dictating our lives is absurd and crazy. Isn’t it? Well not really, at least from a Millennial’s point-of-view. Nor are these projected “negatives” really that negative from our point-of-view either.

The Cause

Over the last few days, I experienced a series of revelations. Well, actually two revelations. The first, was the result of a friend’s birthday. And the second, was the result of my broken BlackBerry and my ability to semi-use it. The combination of the two inspired the words below.

To follow the order of things, let’s begin with the birthday. Like many celebrations, we hit the city. And after reaching our destination and after we all got acquainted with each other, I slowly began to observe and realise that what seemed to be so obviously apparent, wasn’t really that obvious at all.

In a location full of seemingly single individuals, with the alcohol flowing, the music pumping, the sense of promiscuity raising, the pheromones stimulating, the primal urges growing and yet, to see an extraordinary amount of people on their [smart] phones wasn’t just shocking, it was absolutely amazing to see.

And this has hardly been the first instance I’ve seen of this. Slowly as the days go by, you realise how many people use their phones while being amongst those they’re connected to, while having coffee, a beer or simply hanging out. Whether it is a matter of needing attention, giving attention, haste, instant ability, time management, multi-tasking, the idea of “now” and many other inclinations, the Millennials and technology are building a self-perpetuating cycle.

The beautiful thing here is how gracefully my second revelation ties into the story. In the same period over the last few days, I’ve lost the ability to use the track ball on my BlackBerry. And until the situation betters itself and though I still have limited abilities to contact people, I’ve felt lost. The passing days seem like a blur. No email access. No Facebook and Twitter access, etc. Again, I was absolutely amazed and perplexed that even though I have a fully functioning laptop I’m [always] on, losing the functionality of my BB was interesting to say the least.

Though my words seem more dramatic then I intend them to be and though different people will build different perceptions from my words, it can’t be denied that the Millennials are living a significantly different and technologically based life compared to those older than them.

The Effect

Can you really blame them though? Growing up, we’ve been immersed into rapidly expanding technologies. Where once product lifecycles existed for years in previous generations, the world of today hardly has them exist for a year. It took three decades to reinvent the television set. And since, televisions have been reinvented almost yearly.

The same can be said for many technological areas. From the leaps mobile devices have taken in the last few years to the advances of the web with social media and networking sites, the last 5 years have been nothing short of stellar innovation. But where does that leave us now? Where does that leave the Millennials? Where does that leave technology?

As our ambitions towards technology continue you to grow, our demands and wants for technology grow as well. It’s no wonder that many Millennials face problems with internet literacy. Everywhere we look, we’re told to head to the web. At some point in time, our mental capabilities have understood the words on the web might not be the truth, accurate or real. But why lead us to these lies then? If enough people read something and if enough people accepted it, isn’t it true, accurate and real? Or is it just great SEO at work.

The internet has also groomed the Millennials into a constant need for now, immediate and instantaneous thinking. Last week I read – and I can’t find the article itself – that 74% of consumers believe they should be responded to within 24 hours via social media for their questions, comments or concerms. Not only do Millennials expect an immediate response, this same mentality has been extended to many aspects of life.

It’s no wonder why when people are in social settings they’re concerned about checking their phones. They had that thought now. They want to have that conversation now. They want to see that now. How different everything was only 5 years ago when people didn’t want to pay for messaging and didn’t have access to online abilities. We all waited to meet up with each other. We all waited to get home to see what happened online. Waiting no longer exists. If it was up to us, we would’ve done it yesterday if we could. Even “now” is starting to feel slow.

And this is where it gets interesting. Millennials and all of us in fact have come to a point where expecting “now” is the bare minimum. All communication has to be as quick as a text. All information has to be available at a moments notice. Does this create problems? Of course it does. Not only does it change the way we mentally process everything, it creates a constant need for everything. Amongst many other issues.

From a consumerism standpoint, it begins to create gaps amongst the people. With adoption cycles beginning to pattern more like waves than a nice curve, we now begin to see divides due to affordability, technological necessity and want, and capability. These gaps create problems simply because you can’t reach everyone anymore. This will be the very reason why brands and companies will spend more on marketing and advertising than ever before. And the very reason, they’ll have to severely rethink their strategies. With all that, everyone still wants the same abilities that we’ve all been promised by technology.

The Outcome

The technological innovation during the time of the Millennials has not only defined them but it is something the Millennials helped define. It’s the good old “chicken and egg” dilemma. Regardless of your choice in the dilemma, I believe we’re approaching a time where technology itself will reach a plateau, again. Although technology itself has been experiencing tremendous innovation and advancement, frankly, it has delivered to Millennials what they’ve expected years ago. The things we want always seem to come years later. There’s things I’ve thought of that are hardly imaginable in the coming years – but maybe that’s just me.

Our ability to think of new ideas and pull them to the centre will slow, simply as a result that we have used many of these outlier thoughts in hopes of bettering our situations quickly in recent times. The wants of Millennials can hardly be met by technology. The outcome of this will see the continuing boom in social media and smart phones. Until there finally is a bust in the next decade. We can’t all be expected to “like” the 1000s of brands that exist and buy a new smart phone every year. Just as similarly, you can’t all be expected to reach us through every means available. That would be impossible. We all use technology differently. And we all experience levels of technology differently.

Our ambitions have created a series of technological promises that are both right and wrong at times, while at the same time we’re still encouraged to use them. Equally, these promises have taken Millennial wants to new heights. With all this going on, what did you expect from us? To be delayed, unresponsive, unwanting and simply sit back? Of course we were going to us it. And of course it was going to effect the Millennials. We can’t imagine a life without any of it. Imagine being without your phone for the night or a few days? Was there ever such a time?

As innovation is continually exhausted, as greater amounts of outlier ideas are dragged to the centre, as wants for “now” even grow further, maybe it shouldn’t have been a question of whether if the Millennials will out-run technology. Maybe it should’ve been a matter of technology keeping up the Millennials.

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Understanding the Gen-Y Consumer and Shifting Retail Environment

Written on August 20, 2010 by Josip Petrusa

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The recession and global economic events that have transpired over the last two years have had a significant impact on consumers and retailers alike. Undoubtedly, the situation has affected everyone differently. The circumstances all carry the same underlying characteristics, yet there are clear distinctions amongst different segments within the population.

Although I won’t be diving into each of these segments, I will be looking directly in the direction I always do. And that’s towards those young consumers of Generation Y. Whether you believe that they’re a product of the environment or that they’re a catalyst in creating it, the Gen-Y consumer is reshaping our notions of consumerism and the retail world.

Breaking Down the Gen-Y Consumer

There’s no denying the recession has had a few underlying effects to current consumer behaviours. Decreased spending would be the most obvious and immediate one to come up in any conversation. But there’s more behind the current Millennial behaviour.

One of the most imperative and often overlooked factors is the issue of unemployment. Even with great parents that “spoil” us, an unemployment rate of 19.5% for those under 30 is quite profound, considering it’s more than double the rate 9.5% of the entire US workforce. Directly and indirectly, it has caused Millennials to be a little more price conscious. One third of Gen-Y now shop at low-priced retailers, such as Walmart, compared to just under a quarter of all adults.

These price conscious Millennials have also become seasoned bargain hunters. Not because they’re cheap but rather, they’ve become highly accustomed to the pattern behaviour of the retailers. A pattern where Gen-Y simply waits to “[I’ll] get it on sale.” A pattern in which 54% of 18-24 year-olds are delaying making a purchase in anticipation of deals and price reductions. Something of which only one third of older adults are doing. Even with my crude math skills, I know that a difference of 21% is significant. But do retailers truly understand the disparity that’s occurring?

A Shifting Retail Environment

An increasingly competitive environment has pushed retailers to leverage the smallest of opportunities. Years of marking-down prices has created a “I’ll wait until it goes on sale” consumer mentality. A mentality that is heading into direct conflict with rising back-end costs that retailers are facing. There is every indication that as material, labour and transportation costs continue to soar, we will most certainly see a decrease in discounting and an actual price increase in products as early as next year.

As retailers face this eventuality, we’ll begin to see the creation of new acquisition, retention and loyalty strategies. E-commerce and m-commerce will grow extensively in the coming years. And they will be anything but typical approaches.

We’re seeing the creation of unique online sites that are providing limited time and quantity deals on products from companies that are socially-responsible while giving to non-profits. And it doesn’t stop there.

We’re in the midst of an app boom. This is the result of advanced mobile technologies, the growth of Gen-Y’s love affair with smart phones and the absolute want, especially from Gen-Y, for greater mobile ability. Enter Shopkick.

Shopkick is a location based mobile app that check’s in the user once they’ve entered a location. They then receive “kickbucks” for walking into the locaton, scanning items, etc, which can be traded in for different credits. I can only imagine the different types of apps that will most certainly come to being. However, will they truly be any different from similar programs we already have? And who will truly be satisfied by apps such as these, the consumer or the retailer?

Where Gen-Y Consumerism Is Heading

It seems that the whole retail environment is becoming less about retail and more about everything else. The Gen-Y consumer has grown to love patterns of price reductions and is increasingly leaning towards a price-conscious state of mind. For Gen-Y, there almost has to be something extra. It’s not simply about buying the product. It’s about the “extra” benefits we’ll get out of it.

Retailers, on the other hand, are playing their own acquisition tune. Inevitably, retailers will move away from slashing-prices as consumer confidence also inevitably increases. This transition will establish a significant m-commerce presence. And one that will have to make-up – or at least appear to make-up – for the decrease in wanting to “get it on sale” and the eventual increase of prices.

The defining characteristic in all of this will be based on the result retailers take in establishing “that” relationship with Gen-Y consumers. When it all comes down to it, we will always consume. But where we consume from will rest on the shoulders of the retailers. As these retailers continually gather and asses greater amounts of consumer information, they should remember not to overlook the simple facts. It’s not about what we buy, it’s about the sale, the deal, the “extra” benefits we get from it. And the most amusing aspect in all this is the retailers only have themselves to blame.

(Photo credit)

The Future of Gen-Y Shopping?

Written on August 11, 2010 by Josip Petrusa

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The last little while, I’ve really been emphasising on a few Gen-Y ideals and ways of Millennial life that you shouldn’t be overlooking. It begins with knowing that in the same period that this young generation is experiencing social networking fatigue their mobile phone usage is increasing drastically. And that shouldn’t really be a secret. Millennials absolutely love their mobile phones. So much so that it’s daily use has become a part of who they are.

For Millennials, mobile phones have become something of a personal and intimate extension of themselves. Understanding how to reach them on that personal-level can be an extraordinary opportunity.

Further, Millennials are very personally on a variety of levels when it comes to who they are. Not only do they highly value personal opinions, they’re drawn towards lifestyle brands simply because these brands have reached them on that personal level. But more significantly, these brands allow them to express who they are.

Now, after taking everything into account – it’s a lot, I know – you begin to understand that reaching the Gen-Y demographic takes some effort. Traditional approaches are useful. However, new, unfounded and untraditional approaches are ones that are needed. And though my daily perusing of online content, I came by a fascinating article that can be used as a great example. One that might give us a glimpse into what the future of shopping might look like for Gen-Y.

The Future of Shopping?

The article itself is about the launch of a socially responsible, non-profit caring, online shopping experience targeted to and centred around Gen-Y. This e-commerce site known as Roozt.com is based on a platform where you receive a limited quantity of daily deals that are featured for 24 hours only, and upon making that purchase, a percentage – literally, 1% – of that purchase is donated to a non-profit of your choice. Not to mention other incentives in signing up and spreading the word. Talk about a “Gen-Y” mind-frame.

And although the website itself doesn’t launch until this coming September and although “deal of the day” websites already exist, Roozt.com is actually on to something here. They hit on more than a few Millennials characteristics. They clearly exemplify the personal notion of receiving a “limited quantity” exclusive deal. Secondly, not only does the customer save, they have the ability to help a non-profit cause. And lastly, as mobile internet use will reach 54% of the US by 2014 and smart phones will become the majority by the end of 2011, receiving that deal while at work or just being out and about not only encourages the customer but it empowers them.

What makes Roozt.com even more interesting is the fact that they have 4 criteria each vendor must adhere to in order to be part of this platform. They must be eco-friendly, ethical, humanitarian and community conscious. And though I won’t go any further into explaining the criteria – you can read that here – I will say the criteria themselves are representative of Gen-Y characteristics.

Reaching the Gen-Y Shopper

Although I can’t deem Roozt.com an immediate success since it’s in such a young and infant state, I wouldn’t be surprised to see them do well. Though I do have to question whether e-commerce sites such as these provide shoppers with the same abilities in the real-world or if they’re merely available online. I question that because there is a difference to simply being online versus being able to buy in the real-world also.

Even with that being said, they understand that to reach Millennials something extra is necessary. It’s not simply a matter of getting something cheaper, it’s about getting that limited quantity and limited time offer. That’s exclusivity in its true form and something Millennials would easily gravitate to. Equally, not only do you get what you came for, you get an added bonus in helping out a non-profit cause. Something any caring and optimistic Millennial would see as a win-win scenario.

Again, the subject matter I keep pushing, is the importance of what mobile will play in situations such as these. As mobile internet usage continue to grow and smart phones become the norm – think about it, when’s the last time you saw an add for a regular cell phone – reaching Millennials by something simple as email via their smart phone is not only profound, it’s powerful. And it’s not rocket science knowing Millennials are different. You just have to recognize that when trying to reach them you probably, might, will have to be just as different.