Week 3 EOC: My Demographics

I was born May 13, 1992 which puts me into the classification of being a millennial. "Both the baby boomers and Gen Xers will one day be passing the reins to the Millennials (also called Generation Y or the echo boomers). Born between 1977 and 2000, these children of the baby boomers number 83 million, dwarfing the Gen Xers and larger even than the baby boomer segment. This group includes several age cohorts: tweens (aged 9–12), teens (13–18), and young adults (19–32). With total purchasing power of more than $733 billion, the Millennials make up a huge and attractive market"(Marketing An Introduction 10th Edition p16). I agree that our generation is a huge and attractive market. Many retailers and companies market solely to our age group because they know we are more likely to spend money then any other age group. We are at the age where money is coming in slowly for us but we have enough to shop every now and then. Unlike the baby boomers or generation x who are reaching their points of no longer really needing to buy anything and everything. "One thing that all of the Millennials have in common is their utter fluency and comfort with digital technology. They don’t just embrace technology, it’s a way of life. The Millennials were the first generation to grow up in a world filled with computers, cellphones, satellite TV, iPods, and online social networks. A recent study found that 91 percent of Millennials are on the Web, making up 32 percent of all U.S. Internet users. According to another study, 77 percent of Millennials frequent social networking sites and 71 percent use instant messaging"(Marketing An Introduction 10th Edition p17). This is also another valid point where our generation has become the tech savy generation. We grew up having the internet and experiencing the boom of social networks and all types of new technologies that we are very dependent on today. 10 years ago no one knew what a fashion blogger was, or they did not take them serious at all to have an opinion about personal style. Presently blogging and other social media platforms are becoming a free way to make money, to have our voices heard which the industry is greatly interested in. People have started online boutiques, blogs, and vlogs and it will continue to grow.“Young people want to be in control of their relationship with a brand. They want to customize and personalize”(Marketing An Introduction 10th Edition p17). Our generation is also know for wanting to be unique, wanting to be our own person especially in fashion. Our time is known for anything goes in fashion, there are no more rules or guidelines as to how one dresses, everything is personal. Even our cars or technology almost anything can be customized to fit our needs and wants to be different.