“Advertisers are abandoning the recession-traumatized Gen Y millennials who are not as eager as previous generations to become saddled with possessions–a sentiment reflected in low home ownership rates and the thriving “sharing economy.” They have moved on to Generation Z–those 17 and younger–as the demographic in the crosshairs of brands and retailers, like Apple, who understand these teens’ materialistic spending habits are the antithesis of their financially conservative older brothers and sisters.
Millennials, who graduated college during a recession and watched their parents struggle with layoffs, aren’t attached to possessions, Jamie Gutfreund, chief marketing officer at digital marketing agency Deep Focus, told Investor’s Business Daily. He observes that millennials see property like cars and homes weighing them down. They see themselves as “have-nots.” They prefer renting, riding Uber, and buying on Craig’s List.” – Chriss W. Street, June 22.
Too many Gen Y millennials are already saddled with expensive college degrees that will never be of any value. Let’s say the economy does a miraculous turn around. Those who didn’t enter the workforce upon graduation will not be considered for positions; rather these jobs will go to the most recent graduates. We all know this.
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