There are 93 million millennials – otherwise known as Generation Y – in the US. That group now represents the largest segment of the American workforce. With the oldest members being in their mid-30’s, they will be a dominant force for a long time. But right behind them is Gen Z – with 70 million members in the college and high school scene – which will soon be a factor for any company looking to promote and sell to that market as well.
As with any customer demographic, there is a unique dynamic to these young buyers. Marketing through emails and videos; giving youthful products that appeal to this tech- savvy group; and keeping the retail styles in mind when picking out headwear and apparel are all solid guidelines for appealing to the under-40 crowd. It’s a matter of giving something that is “cool enough”- the latest and greatest – and not something that they have received multiple times in the past (swap the white cotton tee for a bella+canvas black heather tee).
The stats – courtesy of Pew Research Center – that support the theory:
- By 2020 40% of all consumers will be from Gen Z
- About 40% of Gen Zers say corporate offices are their preferred workplace
- The average GenZer has the attention span of about 8 seconds
- By 2025 millennials will account for 75% of the global workforce
- 90% of millennials check their emails, texts and social media accounts before getting out of bed
- More than 60% of millennials stay updated on brands through social media
- 77% of millennials participate in loyalty reward programs
- Millennials consistently spend more than other generations on fitness-related products
Young buyers are the future – prepare to understand what they want, and avoid what they don’t – if you don’t, someone else will!
As Lady Bird Johnson said “I’ve really tried to learn the art of clothes, because you don’t sell for what you’re worth unless you look good.” To that point, if office attire isn’t done right, intelligent, well-qualified people run the risk of being overlooked because their appearance alters others’ perception of their qualifications. However, there’s a reason many people are confused about the term business-casual.