Consumer Behavior For Gen Y

Consumer Buyer Behavior is a process which

individual search for, select, purchase, use and

 dispose of goods & services, in satisfaction

of their needs and wants. 


Book Reference of Consumer Behavior- the processes involved when individuals or groups select, purchase, use or dispose of products and services, ideas or experiences to satisfy needs or desires.

Generation Y consumer Behavior:

They are sophisticated consumers with high level of brand awareness
They are healthy spenders
Their parents make the important decisions
Tend to think about their image before purchasing any product/service
Disloyal to brands but highly loyal to relationships
Mostly influenced by friends and peers when deciding to buy a product/service
Short attention span in buying methods

Gen Y Buy different items which represent the type of trends and fashion is going through, some explain that Gen Y are rather dependent on technology then being as said Tech Savvy. Designer trends such as trainers Nike, Adidas and Vans are due to the mind of Gen Y being known as following the herd. For example Apple products such as the iphone, ipod, ipad and Mac has created a trend for Gen Y to follow, this is because technology has grown a large amount compared to the times of Baby Boomers and Generation X. For example E-mail has grown so much that only a couple of years ago sending letters were mostly through the post whereas now the Generation Y can send an mail electronically instantly and receive mail without the use of using the post for letters. 
Depending what Generation Y buy differs to the baby boomers and generation x, for example music:
BABY BOOMERS buy what music is recommed to them, Generation x buy what the things they only like or consider what is best for them, whereas GEN Y buy a ipod FULL STOP!!

The picture below WHY DOES GEN Y BUY? Explains the reasons to what & why this generation buy particular products. Technology and trends fit into the same area why gen Y buy. 

The picture below explains the Generation Y are the smart consumer, they play the role of the strong influencers in the family, media habits include television and internet , and they have savvy and pragmatic purchase behavior- (Dealing with things sensibly and realistically in a way that is based on practical rather than theoretical considerations). Their shopping behavior is self-inventive and individualistic, meaning they but for themselves especially in entertainment, clothes and accesorries and health as that are their appealing themes and products.

EXTRA INFOMATION OF GEN Y AND THEIR PURCHASING BEHAVIOUR OF PLACE, PRODUCT, COMMUNICATION, PEOPLE AND VALUE.

Generation Y

Introduction
Generation Y are the known as the millenniums, between the year 1980's- 1994, they are the members who are much more racially and ethnically diverse. Gen Y are much consistent & dependent of the internet, this has made them to be flexible & more changing in its fashion, style consciousness as to where and how it is communicated with. They will have a huge social and economic impact.

Generation Y has is populated of at least 70 million in the US.Generation Y parents play huge aspect in their life, technology and home life style is the way in which generation Y are dependent on.They are the most educated generations yet, it has become a Norm to attend & complete education till college.

Gen Y have grown up to be diverse as their day to day lives included that team working is important and the idea of no child is left behind is highly educated into their minds. Therefore they prefer to work as teams then individually leading them to be a diverse set of group.

Generation Y is the most ethnically diverse generation ever!!


WE ARE GEN Y 

Behavior and Characteristics of Gen Y vary to many especially in the areas below:

Work Ethic

Generation Y are tech Savvy, workforce and lifestyle has changed to the growth of  technology.  

They seek out the genuine and are repulsed by phony.

They are famously optimistic and believe in the possibility of change.

They advocate for the environment and social justice.

They treasure tolerance and diversity, teamwork and balance.

They seek spirituality and are open to the possibility of the divine.

Gen Y Population

A quick graph estimating the size of each catergory of ages in the US in 2010. Leading to the fact that Generation Y have the biggest population with 27.7%!!

The graph above displays the population of Generation Y, the female population is massively increased then then the male population, this may lead that many marketers have target women to their product and services.

Below it explains that Gen Y is has the biggest population of world. Thus showing it is the audience which is highly influenced by marketers, they are more likely to be affected to products and services.

Lifestyle

Adulthood is  in the age between 18 and 25, in which Gen Y are no longer fully dependent but are not yet fully self-sufficient, with the full responsibilities and independence of adulthood.

Tech Savy- technology growth has made Gen Y reliant on the internet as apart of their daily lives. Gen Y have grown up during the growth of technology such as cable television, cellular phones, pagers, answering machines, laptop computers and video games. Technological advancements in real-time media and communication drive their expectation for immediacy.

Family

Generation Y’s Baby Boomer parents have nurtured and protected them, providing for their every emotional, educational and physical need and want. Therefore Gen Y have an obligation to reach and expect higher achievements from education to looking after themselves in their daily lives.

Generation Y have very close relationships with their parents, as Gen Y enter the workforce they are more likely to continue living with their parents.

Gen Y seek advice and approval from their parents to whatever they do in education and in the work lifestyle.
Gen Y are opportunistic, meaning they are highly concentrated on their immediate wants, interests and needs, especially in cases of their work life and the role models in their family. Their parents are a role model for them to how their parents balance family, work and lifestyle throughout their lives, therefore some Gen Y are very concerned on goals and hopes for the future.