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Generation Y, also known as Millennials, are those born between 1976 and 2000. They are the first group to grow up with the internet and technology, making them a valuable market for advertisers. However, negative generalizations about the group, such as drug and alcohol abuse, are inaccurate. As the last of the baby boomers reach retirement age, there may be competition for jobs between the two groups.
Generation Y refers to the population group in the United States born somewhere between about 1976 and 2000. They are sometimes called echo boomers because some of them are children of baboomers. On the other hand, some Generation Y children, particularly those born in the late 1980s or later, may be grandchildren of baboomers. Other names for this group are Millennials, Internet Generation and Gen Y or Gen Yers for short.
There are some quirks to the definition of Generation Y, as it can encompass two generations. A child born in 1976, probably from a real baboom, could easily have a child born in 1996, 20 years later. There is no official consensus on the term Generation Y begins or ends, and the term can be considered pejorative, just as the term Generation X is sometimes used in a negative sense. Even the eco boom can be inaccurate, as the true increase in birth rates that defines many boomers who have children is much more limited. This increase in births, which approaches the levels of the last years of the baboom, is defined as 1989-1993, a much smaller time frame than what defines Gen Y.
All population groups tend to be tarred with generalizations, some accurate and some completely missing. This particular group has been described as rude, retributive, and prone to childhood obesity and drug and alcohol abuse. While certainly some Generation Y kids may have these issues, it’s a gross misconception to suggest that this is true of all kids in this 24-year span. It would also be premature to make any conclusive statements about this generation, since its youngest members are only now reaching their preadolescence.
What can be said about this group that is in no way pejorative is that they are the first group to become adults just as the internet has begun to fully blossom. They are therefore familiar, usually from childhood, not only with surfing the Internet, but also with all the gadgets that come with it. Cell phones, electronic organizers, cable radio, hundreds of television stations, and many other things that people born before this time would consider novelty are just the basics of existence for a Generation Y child or young adult.
For this reason, Gen Y advertisers specifically target this audience and view them as valuable current or soon-to-be consumers. As a market, this group can have a significant impact on spending, since 76 million people fall into the Gen Y category. Other trends Generation Y appear to have impacted are things like PG-13 ratings, something that is existed only in recent years. Film producers often strive for a PG-13 rating, because doing so means they’ll appeal to Generation Y audiences, who are for the most part avid moviegoers and constant spenders at the movies.
When Generation Y people are viewed in a negative light, this seems to be a reflection on the fact that they will make up a significant portion of the workforce just as the last of the baboomers have reached the retirement age of 65. Gen Yers will be the ones paying into the system. With fewer people actually retiring at this age, a conflict could certainly arise between the late baboomers and Generation Y folks over competition for jobs. There may also be concern about leaving the country in the hands of a group about which there are many negative generalizations.
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