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This article is continued
from the July 2010 CarolinaLiving.com
eBrief.
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Six Generations of Consumers
With Baby Boomers retiring at the rate of about one every eight seconds, the times, they are a’ changing. Can you name the six generations of consumers? Sure, we gave you one, but what about the other five?
Excerpted from delivermagazine.com
GI GENERATION
(Born before 1925): Made up of those who lived through and fought in WWII. Also known as “The Greatest Generation” because of its contributions to the second World War. Buying power considered negligible.
SILENT GENERATION
(Born 1925 to 1944): Those generally thought to be too young to fight in WWII and those born during the war. The smallest generation of the 20th century as a consequence of low Depression-era birth rates. Buying power considered negligible.
BABY BOOMERS
(Born 1945 to 1964): Children of the GI and Silent Generations. The second largest generation (78.2 million Americans) and one of the most coveted, with about $2 trillion in annual buying power.
GEN X
(Born 1965 to 1984): Largely children of the Silent Generation, numbering around 69.5 million Americans. Regarded as technologically “bilingual,” but do not respond to Internet marketing efforts.
GEN Y
(Born 1985 to 2004): Also known as “Millennials,” “Echo Boomers” and “The Net Generation.” They are the children of the Baby Boomers and the largest generation at 100 million Americans. The most coveted buying group, consuming at a rate of more than five times the Baby Boomers (in adjusted dollars).
GEN Z
(Born 2005 to Present): With 4,317,000 babies born, 2007 was the largest birth year in U.S. history. Latinos make up about 14 percent of our total population but accounted for more than 25 percent of total babies born in 2007. This new generation is already more than 20 million strong and is sure to be an exciting and challenging market.
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