33% download music illegally
51% prefer to drink white spirits
83% make regular online purchases
There are around 4 million Gen Y’s in Australia that spends upwards of $45 billion on self- gratifying purchases each year.
Why are they choosing these hedonistic purchases over saving for a house or buying a new car, or investing in stocks? A common concept we play around with is the idea of self ‘instant’ gratification, Generation Y want everything now – the dream job, the idyllic lifestyle, and they commonly subscribe to the thought me first, everyone else second.
Generation Yers are ready to spend – with the big winners being Saturday nights out, travel and new fashion items. But it needs to fit their ‘budget’ budget – they prefer a cheap thrill now, opposed to saving for the once in a lifetime experience. When it comes to fashion – it doesn’t matter if it’s made in China or the Caribbean, as long as it looks good! Also, beauty and beauty treatments auger well with Yers – body wraps, facials, fake tans etc are not a want, they are a demand.
We are also finding that fear and uncertainty make for great travel. For this generation travel destinations need to come attached with an exciting story. Say HI to India and BYE to Indianapolis.
