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PREPARED BY THE SOUND RESEARCH UPDATED FEBRUARY 2014 WWW.THESOUNDRESEARCH.COM MILLENNIALS GENERATION X VS

Millennials vs. Gen-X

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Page 1: Millennials vs. Gen-X

Strategic Research & Brand Consultancy

PREPARED BY THE SOUND RESEARCHUPDATED FEBRUARY 2014WWW.THESOUNDRESEARCH.COM

MILLENNIALSGENERAT ION X

VS

Page 2: Millennials vs. Gen-X

THE IMPACT OF DEMOGRAPHICS

VS.MILLENNIALSTHE LARGEST GENERATION SINCE THE BOOMERS - 9 MILLION (CANADA), 76 MILLION (US)

‣ Cultural spotlight focused on the values and behaviors that will shape our culture for years to come...

‣ Highly diverse generation - celebrate diversity

GENERATION XA RELATIVELY SMALL GENERATION - 5 MILLION (CANADA), 52 MILLION (US)

‣ Less culturally important, had to make a lot of ‘noise’ to be noticed.

‣ Generation that experienced America becoming diverse - accept diversity

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COMING OF AGE

VS.BORN BETWEEN 1961 AND 1980

‣ Identity shaped by a mix of disappointment and fragmentation

- Challenger - Cable TV- Aids - Video games

BORN BETWEEN 1981 AND 1995, AGED 16-29 YEARS OLD

‣ Identity shaped by a mix of crisis and opportunity

- 911 - Facebook- Global warming - American Idol

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HEROS VS REBELS

VS.COMBINATION OF CRISIS AND OPPORTUNITY CREATES A GENERATION THAT CONSIDER THEMSELVES HEROES

‣ Aware of issues facing the world‣ Highly empowered by technology‣ Highly empowered by parents and

education system

COMBINATION OF DISAPPOINTMENT AND FRAGMENTATION CREATED A GENERATION THAT CONSIDER THEMSELVES REBELS

‣ Means to be highly individual‣ Often left alone by often divorced parents‣ Strong desire to create new ‘rules’

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LONG VS SHORT YOUTH

VS.MILLENNIALS DEVELOPING IDENTITY IN LONGER YOUTH CONTEXT

- Psychologists are debating whether this has resulted in a NEW developmental lifestage

‣ 20’s are now expected to be a time of exploration and deferred responsibility

- Results in more uncertainty- Results in more sound decisions

‣ Results in compressed maturity experience

- Biological clock- Guyoligical clock

GENERATION X EXPERIENCED A SHORTER YOUTH CONTEXT

- Expected to be more focused in their 20s- Did not have the opportunity to experiment to the same degree

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MATURITY ASPIRING VS MATURITY ADJUSTING

VS.MILLENNIALS ARE HIGHLY MOTIVATED TO ACHIEVE MATURITY

- Long youth experience- Desire to be taken seriously and achieve their goals

‣ Results in a sense of frustration with being young... messaging around experience resonates

- Dos Equis- Old Spice

GENERATION X ARE NOW PARENTS

‣ Strong desire to remain youthful and connected to ‘cool’

‣ Results in a sense of frustration with being old.... messaging around youthfulness resonates

- Mountain Dew

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GENDER DIFFERENCE VS GENDER EQUALITY

VS.GENERATION X CELEBRATED GENDER EQUALITY

- First generation for whom males and females were becoming equal- Girl Power!- New man!

‣ As a result, unisex and androgyny were key trends

- CK One

FOR MILLENNIALS GENDER EQUALITY IS A GIVEN

- To celebrate this seems almost pointless...

‣ Rather Millennials are looking to differentiate

- Witness more traditional fashions and interests

- The Retrosexual a key trend

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HOOK UP VS GET DOWN

VS.MILLENNIALS HAVE REPLACED DATING WITH HOOKING UP

- Casual and no commitment

‣ “Friends with benefits” highly common

‣ Technology allowed relationships to become intimate before even meeting

‣ Strong desire to return to more traditional dating as a result!

GENERATION X ARE JEALOUS OF MILLENNIAL HOOK UP CULTURE!

‣ Dating and sex shaped by fear of Aids

‣ Gen X more likely to have settled relationships... or spent their youth dancing instead!

Page 9: Millennials vs. Gen-X

NETWORK VS CLIQUES

VS.MILLENNIALS EMBRACE DIVERSITY IN EVERY ASPECT OF THEIR LIVES

‣ Diverse group of friends seen as essential

‣ Different skills strengthens the group

‣ Many adopt different roles in different friendship groups

GENERATION X GREW UP INTENSELY EXPERIENCING THE TENSION BETWEEN BELONGING AND BEING INDIVIDUAL

‣ Generation X grew up striving to be part of the popular cliques

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FUTURE PRESSURE VS PEER PRESSURE

VS.GLOBAL STUDY BY MTV REVEALED THE NUMBER ONE CONCERN OF MILLENNIALS RELATES TO THE FUTURE AND ACHIEVING THEIR AMBITIONS

- And the only thing that can stop them is ‘themselves’

- Future far more important than being popular, having the latest things, having sex etc.

‣ Success defined by ‘doing something they love’

GENERATION X WERE DEFINED BY PEER PRESSURES

- Less opportunity and sense of entitlement than Milllennials

‣ Success more likely to be measured by $$$...or by having a different life to their parents!

Page 11: Millennials vs. Gen-X

TECHNOLOGY OBLIVIOUS VS TECHNOLOGY ADOPTERS

VS.MILLENNIALS HAVE GROWN UP DURING THE INTERNET REVOLUTION, EVERY ASPECT OF THEIR LIFE IS ENTWINED WITH TECHNOLOGY

- Digital Natives

‣ Find it almost impossible to talk about technology and the impact it has on their lives

GENERATION X GROWN UP AS TECHNOLOGY EMERGED, NEEDED TO LEARN HOW TO USE IT

- Digital Adapters

‣ Able to talk about how technology has changed their world

‣ Nostalgic about times when technology wasn’t all pervasive

Page 12: Millennials vs. Gen-X

EXPRESSIVE SOCIETY VS SECRET SOCIETY

VS.MILLENNIALS HAVE A CURATED IDENTITY

- Develop and manage their identity on line- Friends, interests, aspirations all on social networks for all to see

‣ Very happy to reveal almost all their secrets to almost anyone...

GENERATION X VALUE THE UNDERGROUND, SOUGHT TO KEEP THEIR CULTURE SECRET FROM MAINSTREAM SOCIETY

- No Logo- Extreme sports

‣ Developed their identity in more traditional ways

- Cliques- Brands

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HEALTH AWARE VS HEALTH CONCERN

VS.MILLENNIALS ARE THE MOST HEALTH AWARE YOUTH GENERATION EVER

-Access to information through the internet and education

-Also highly concerned about sustainability issues...

‣ As the recession hit, brands with health benefits were one of the few areas they refused to compromise on

GENERATION X WERE LESS AWARE ABOUT HEALTH WHEN THEY WERE YOUNG

- Less aware of the impact of processed food, additives etc.

‣ Now into their 40s becoming health concerned

- Switching to low calorie products- Actively looking for healthy and more natural options

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PASSIONATE IRONY VS JADED CYNICISM

VS.MILLENNIALS VALUE HAVING PASSIONS AS HIGHLY IMPORTANT

‣ Highly positive generation, believe they can make a difference

- Empowered- Reject Generation X rebellion

‣ Combine being passionate with a sense of irony

- Communication with ‘a knowing wink’ engages...

GENERATION X DEFINED BY PERVADING SENSE OF CYNICISM

- Question institutions- Challenge brand involvement in their culture

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AUTHENTICITY VS COOL

VS.FOR MILLENNIALS AUTHENTICITY IS THE NEW COOL

- Authenticity = true to self

‣ Engage with brands that deliver a sense of authenticity

- Heritage- Originality- Imperfection

GENERATION X ARE MORE LIKELY TO BE CONCERNED WITH ‘COOL’... A QUEST FOR THE NEXT BIG THING

- Exclusive- Underground- Rebellious

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TARGETING MILLENNIALS

& GEN X?

Page 17: Millennials vs. Gen-X

TARGETING MILLENNIALS & GEN X

SUCCESSFULLY TARGETING GENERATION X VALUES MAY WELL ALIENATE MILLENNIALS... AND PROBABLY BOOMERS TOO!

MILLENNIALS ASPIRE TO THE MATURITY OF GENERATION X

- Career- Relationship

Millennials do not aspire or relate with the values of Gen X

- Rebellion has no relevance- Cynicism is rejected

GENERATION X ASPIRE TO THE YOUTHFULNESS OF MILLENNIALS

Generation X also aspire to the values of Millennials

- Passion- Desire for change

Page 18: Millennials vs. Gen-X