This concept is used to designate a group of individuals who share the same general characteristics. The concept first appeared in 1993 in an American marketing and communications magazine.
This generation is also known as millennials, as it includes people who were born shortly before the year 2000, therefore beginning their lives in the new millennium.
The overall characteristics of the entire Generation Y include the following:
- the emergence of consumer computing, a generation that has grown up with new technologies and the internet;
- the widespread popularization of video games;
- children who grew up with the American dream as their backdrop;
- a generation of young people committed to various social issues, particularly climate change; and
- a generation of digital natives who grew up with the latest IT developments.
This connection to the world is a characteristic that needs to be taken into account, especially when Gen Y is an ecommerce persona: any online sales entrepreneur who wants to appeal to Gen Y needs to take into account the specific characteristics of this group of people, who are used to surfing the web and are focused on the latest online innovations.
In the 2020s, these are people between the ages of 25 and 40: they’re consumers with average to high purchasing power, who have been in work for several years or have their own business, and who generally prefer brands from their time, as well as brands that are committed to the environment.
It’s also important to note that many millennials entered adulthood during a major economic recession, significantly influencing their life choices, career trajectories, and financial prospects. Unlike younger generations, this “slow start” has had lasting impacts, shaping their transition into adulthood and leaving effects on society that will be likely to persist for years to come.
Millennials are also affected by collaborative consumption, such as car-sharing or second-hand shopping. It’s a generation that wants to consume differently, in a healthier way, aware of the urgencies and risks facing the planet. This generation wants to work for a better world.
