Research Insights: Insights into Gen Y

Report
•
There are approximately 72 million Gen Ys
– Born between 1980 and 1995 and influence both
generations before and after them (Gen X and Gen Z)
– Optimistic
– View the internet and social media as an extension of
themselves
• They are what they share
• They live in a fast-paced 24/7 society and have a
fear of missing out (FOMO)
– Group-oriented
• They want to interact and share with all of their
friends but also want to be recognized as an
individual
– Demand control
• Actively give their opinions and want outreach to
be customized to them and their feedback
2
*Supplemental findings from The Cassandra Report.
Macro Trends are large societal trends that mark key shifts in
Gen Y’s attitude and behaviors. These trends are often highly
influential in their purchasing decisions.
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•
•
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Life Hacking is a direct result of Gen Y’s interest in
repurposing existing products to fit their individual needs.
It reflects their increasing desire to express their creativity
and resourcefulness.
Real-Time Reflex is a reflection of the society Gen Ys live
in. They expect and anticipate products and experiences
to imitate their fast-paced lives.
The Milleniamalists is a reaction to their overloaded lives.
Gen Ys are looking to simplify and de-clutter.
A Curated Life demonstrates Gen Y’s need to be their own
curators, both in their purchases and lives.
MACROS – LIFE HACKING
MACROS – LIFE HACKING
IKEA HACKERS TOSS THE
INSTRUCTIONS AND
CREATE NEW FURNITURE
ALL THEIR OWN
TIK TOK, A GROUP
THAT RECEIVED
FUNDING THROUGH
KICKSTARTER,
CREATED A WATCH TO
HOLD THE IPOD NANO
WORLD OF
FOURCRAFT
TURNED NEW
YORK CITY INTO
A GIANT GAME
OF RISK WITH
THE USE OF
FOURSQUARE
AND GOOGLE
MAPS
Implications
•
Provide opportunities for consumers to
manipulate products in new and creative
ways. Give them a voice by allowing them
to contribute ideas.
•
Create guides and instructional manuals
for how consumers can hack your
products in order to make their own lives
easier.
•
Build a platform for consumers to share
their hacks with each other. Hacking is a
community exercise and an opportunity
to encourage brand evangelism.
P.S. I MADE THIS BLOG AND BOOK
FEATURES EASY PROJECTS TO
RECREATE ICONIC FASHION PIECES
THE NEW YORK TIMES
HOSTED A “TIMES OPEN
HACK DAY” THAT
CHALLENGED DEVELOPERS
TO DEPLOY, HACK, CREATE,
AND CODE IN 14 HOURS
THE RELEASE OF XBOX
KINECT HAS UNLEASHED
A CREATIVE GROUP OF
HACKERS
MACROS – REAL-TIME REFLEX
MACROS – REAL-TIME REFLEX
NET-A-PORTER & ZAPPOS HAVE
ONLINE FEATURES THAT SHOW
USERS WHAT PEOPLE AROUND
THE COUNTRY ARE BUYING IN
REAL TIME
KATY PERRY
ANNOUNCED HER
LATEST TOUR SCHEDULE
ON A FACEBOOK LIVE
CHAT AND HAD AN
HOUR OF AIR-TIME
RATHER THAN A FEW
MINUTES ANYWHERE
ELSE
Implications
•
Gen Ys have FOMO, (Fear of Missing Out)
find ways to help them live in the moment
and get a jump start on noteworthy events
and products.
•
Develop your own real-time reflex to keep
up with consumer conversations – monitor
what they are saying and communicate to
them directly.
•
Layer real time conversations, ideas,
information and pictures into products,
entertainment and marketing
communications.
MADDEN’S
FOOTBALL VIDEO
GAME CAN REFLECT
PLAYER’S LOCAL
WEATHER IN THE
GAME WHEN THEY
ENTER THEIR ZIP
THE CANADIAN TOURISM BOARD
CODE
INSTALLED LIVE VIDEO AND TWITTER
FEEDS IN TIMES SQUARE TO SHOW WHAT
WAS HAPPENING IN CANADA, IN REAL
TIME
FOR HIS GOOD
FRIDAY ALBUM,
KANYE WEST
RELEASED A NEW
TRACK EVERY
FRIDAY TO INCREASE
RELEVANCE
AUDI’S “PROGRESS IS” TWITTER CONTEST
ASKED PARTICIPANTS TO DEFINE PROGRESS
USING #PROGRESSIS. THE CONTEST
INSERTED AUDI INTO THE REAL TIME
STREAM
MACROS – THE MILLENIAMALISTS
MACROS – THE MILLENIAMALISTS
Implications
THINGS ORGANIZED NEATLY IS A POPULAR
TUMBLR THAT FEATURES UNIQUE ITEMS
ORGANIZED INTO INTERESTING DISPLAYS
COOKBOOKS ARE BEING REVAMPED IN A
VISUAL STYLE WITH WRITTEN DIRECTIONS
BEING REPLACED BY PHOTOS
MILINALISM HAS BEEN HITTING
THE RUNWAY WITH DESIGNERS
SUCH AS CALVIN KLEIN AND
STELLA MCCARNETY FOCUSUING
ON CLEAN, NUETRAL LOOKS
LOGOS ARE GETTING A REDESIGN WITH
MANY BRANDS SUCH AS STARBUCKS
MAKING THEIRS MORE STREAMLINED
AND SIMPLE
FASHION DIETS CHALLENGES
CONSUMERS TO FOREGO
SPENDING OR TO RELY ON A
SPECIFIED ITEM OF
CLOTHINGS FOR AN
ALLOTTED TIME
•
Gen Y is overwhelmed by informationprovide simple and straightforward
packaging, clean websites and clear
messaging that is easily understood.
•
Quality over quantity is importantproducts that are multifunctional,
meaningful and have a low environmental
impact will appeal to the Milleniamalist
mindset.
•
Products that boast few ingredients and
feel “intuitively good” will continue to
gain popularity. As Gen Y streamlines their
life they are looking for added value that
supports their decision to purchase.
FOOD PRODUCTS ARE TOUTING THEIR
MORE NATURAL FLAVORS AND
INGREDIENTS. HÄAGEN-DAZS FIVE
FEATURES ONLY FIVE NATURAL
INGREDIENTS
MACROS – A CURATED LIFE
MACROS – A CURATED LIFE
TRUNK CLUB IS A MEN’S
SHOPPING SERVICE THAT
SENDS CURATED OUTFITS
BASED ON VIDEO STYLING
CONSULTATIONS
OPENSKY’S NETWORK OF
CURATORS HANDPICKS AND
SUGGESTS SALE ITEMS BASED
ON THE USER’S FOOD, STYLE,
HEALTH AND DESIGN
INTERESTS
HUNCH CREATES CUSTOMIZED
PREDICTIONS BASED ON USERS’
INTERESTS
Implications
•
Be a source of inspiration and expertise.
Help your fans by delivering expert advice,
opinions, and ideas that enable them to
create A Curated Life.
•
Encourage consumers to show off their
skills. Provide opportunities for shoppers
to express their creativity through various
social media platforms.
•
Be visible. Inject your brand into a variety
of curated spaces both online and offline,
such as popular blogs, online shops,
galleries, or pop-culture events.
PERCOLATE FILTERS
TRENDING SOCIAL MEDIA
CONTENT AND PRESENTS
THE MOST INTERESTING
INFORMATION FOR
INDIVIDUALS TO CREATE
CONTEXT AROUND
SOCIAL SHOPPING SITE,
SVPPLY, ALLOWS USERS
TO ASSEMBLES PRODUCTS
INTO WISH LISTS AND
COLLABORATE WITH
OTHER TASTEMAKERS
SHOPPING SITE, NUJI, LETS
USERS COMPILE WISH LISTS
INTO A COLLECTION AND SHARE
WITH OTHER USERS WHO HAVE
SIMILAR TASTE
While the Macro Trends provide background for understanding
the behavioral and cultural mindset of young consumers, the
following trends focus on innovations in the digital space.
•
•
•
•
Facebook is constantly evolving and leveraging the “social
graph” to provide customer experiences.
Crowdsourcing is a growing movement that impacts areas
from fashion to nonprofit. This movement allows consumers
to contribute their thoughts and ideas to peers and
businesses alike.
Web and Mortar is the increasing evolution of physical
stores integrating their environments with digital
innovations.
Augmented Reality is helping to connect brands with
consumers in new and increasingly unbordered ways.
FACEBOOK
Implications
AMERICAN EXPRESS CARDHOLDERS THAT ARE FANS
OF THE AMEX FACEBOOK PAGE RECIEVE SPECIAL
DISCOUNTS BASED ON THEIR LISTED ‘LIKES’ AND
INTERESTS
AFTER THEIR SUCCESSFUL FENDI
CAMPAIGN, BERGDORF GOODMAN IS
SEARCHING FOR THE FACE OF THEIR
5F COLLECTION USING FACEBOOK
NEIMAN MARCUS LAUNCHED RACHEL
ZOE’S NEW COLLECTION AND
ALLOWED FACEBOOK FANS TO
ASSEMBLE VIRTUAL OUTFITS FROM
THE INDIVIDUAL PIECES
OSCAR DE LA RENTA DISTRIBUTED
FREE SAMPLES OF A NEW FRAGRANCE
THROUGH ITS FACEBOOK PAGE AND
25,000 SAMPLES WERE DELIVERED IN 3
DAYS
•
Used correctly, Facebook can be a
powerful platform for building brand
equity and nurturing brand evangelists.
•
Use Facebook to provide experiences that
are unique and different from your other
online/offline offerings. Give current and
potential fans a reason to engage with you
on Facebook.
•
Let your fans know you hear them. Reward
them with insider information, real-time
feedback, and opportunities to receive
special products, discounts, and
experiences.
LEVI’S FRIENDS STORE USES FACEBOOK
CONNECT TO ALLOW SHOPPERS TO SHARE
AND EXCHANGE THEIR FAVORITE PRODUCTS
WITH THEIR FACEBOOK FRIENDS
FLAIR, THE BELGIUM
MAGAZINE, INTRODUCED
FASHIONTAG, WHICH LETS
SHOPPERS TAG THEIR
FRIENDS’ CLOTHING AND
ACCESSORIES IN FACEBOOK
PICTURES AND ASK RELATED
QUESTIONS
CROWDSOURCING
Implications
IKEA INVITED ASPIRING
FASHION DESIGNERS TO
SUBMIT THEIR WORK TO
WIN A FASHION
SCHOLARSHIP
WRANGLER’S “NEXT BLUE” CONTEST ASKED
PARTICIPANTS TO SUBMIT IDEAS FOR A NEW
JEAN STYLE AND VOTE ONLINE TO CHOOSE THE
WINNER
DESIGNER DEREK LAM PARTNERED
WITH EBAY TO ALLOW CONSUMERS
TO VOTE ON THEIR FAVORITE LOOKS
AND DETERMINE WHICH WOULD BE
SOLD ON THE SITE
FASHION SITE
“FASHISM” ALLOWS
USERS TO POST
QUESTIONS ABOUT
THEIR OUTFITS TO
THE BLOGOSPHERE
FOR FEEDBACK
WHERE TO GET IT IS THE
SHAZAM OF THE FASHION
WORLD. IT ALLOWS USERS
TO POST FASHION LOOKS
THEY LOVE AND THEN
CROWDSOURCE THE SITE
TO DISCOVER WHERE THEY
CAN PURCHASE IT
•
Tap into the power of the crowd to build a
heightened level of collective engagement
from customers.
•
Give your fans the power of influence.
Allow them to contribute ideas and
opinions for real products or services to be
produced.
•
Provide a platform for participants to
achieve something, whether it’s
admiration for their skills, job
opportunities, or a fantastic branded
experience. Give consumers a reason to
contribute.
PRIZES IS A SOCIAL CONTEST SITE THAT
LETS PEOPLE OFFER REWARDS FOR
QUALITY FEEDBACK TO USER SUBMITTED
QUESTIONS
WEB + MORTAR
MEIJER HAS CREATED
AN APP THAT HELPS
SHOPPERS LOCATE
OVER 100,000 ITEMS
SOLD IN THEIR
STORES
Implications
AT THE START OF THE JULY
ANNIVERSARY SALE, NORDSTROM
BEGAN USING MOBILE CHECKOUT
DEVICES
USING MICROSOFT KINECT, TOPSHOP
INSTALLED A SPECIAL KIOSK THAT LETS
SHOPPERS TRY ON CLOTHING VIRTUALLY
SEPHORA CREATED AN IN-STORE BOUTIQUE THAT
PROVIDES IPADS WITH HOW-TO VIDEOS AND
ACCESS TO FACEBOOK, TWITTER, AND
FOURSQUARE
FOR DEBENHAM’S MEGADAY SALE, “TWITTER
ASSISTANTS” ROAMED THE STORE WITH
MOBILE DEVICES, RESPONDING TO SHOPPER
INQUIRIES VIA TWITTER HASHTAGS
•
Maximize your brand’s reach among
influencers. These digitally savvy shoppers
will respond to tech-centric experiences
and will be more likely to become brand
evangelists.
•
Provide added value through unique, techenabled in-store experiences. Find
innovative ways to reach “connected
shoppers.”
•
Play up customer service. Utilize real world
and virtual expertise, assistance, and
inspiration to provide the best in-store
shopping experience possible.
STARBUCKS’ MOBILE APP
ALLOWS USERS TO CHECK
AND TRACK THEIR
STARBUCKS CARD
BALANCE AND PAY FOR
THEIR DRINKS, DIRECTLY
FROM THEIR PHONES
AUGMENTED REALITY
Implications
AIRWALK USED
AUGMENTED REALITY TO
CREATE VIRTUAL POP-UP
STORES
CONVERSE CREATED THE
SAMPLER IPHONE APP,
WHICH LETS SHOPPERS
TRY ON SHOES
THROUGH AUGMENTED
REALITY
AURASMA IS A MOBILE
APP THAT USES IMAGE
RECOGNITION TO BRING
PRINT AND IMAGES TO
LIFE
BARNES & NOBLE PARTERNED
WITH ESQUIRE MAGAZINE AND
GOLDRUN TO CREATE A
PROMOTION WHERE USERS TOOK
THEIR PICTURES WITH BROOKLYN
DECKER USING AUGMENTED
REALITY
•
Augmented reality provides high-impact,
memorable experiences that can be
leveraged to break through the clutter and
enter the social conversation.
•
Simplifying and personalizing the shopping
experience helps build brand loyalty and
increase consumer engagement.
•
Create opportunities for consumers to
build social capital by providing content
that they will want to share across social
media platforms.
CB2 FURNITURE GIVES USERS THE
CHANCE TO VISUALIZE FURNITURE
IN THEIR HOMES USING AN
AUGMENTED REALITY MOBILE APP
USING A MOBILE APPLICATION, LUXURY RETAILER
ZEGNA HAS CREATED A 3D VIRTUAL STORE WHICH
CREATES A MORE INTIMATE ONLINE SHOPPING
EXPERIENCE
NUJI
HUNCH
SVPPLY
CONVERSE
SAMPLER
PERCOLATE
a curated life
AURASMA
AIRWALK
POP UP
STORES
augmented
reality
TRUNK
CLUB
CB2
B+N
BROOKLYN
DECKER
OPENSKY
P.S. I MADE
THIS
TIK TOK
NANO IPOD
WATCH
IKEA
HACKERS
ZEGNA 3D
STORE
KINECT
HACKS
life hacking
STARBUCKS
MOBILE PAY
Applying Gen Y
Macro Trends to
Retail
WORLD OF
FOURCRAFT
PRIZES.ORG
FLAIR
FASHIONTAG
facebook
AMEX DEALS
BERGDORF
GOODMAN
5F SEARCH
IKEA
GARDEROBE
crowdsourcing
LEVI’S FRIEND
STORE
DEREK LAM
EBAY
COLLECTION
MEIJER
STORE
LOCATOR
WHERE TO
GET IT
FASHISM
NEIMAN
MARCUS
STYLING
NORDSTROM
MOBILE
CHECKOUT
web + mortar
NY TIMES
HACK DAY
OSCAR DE LA
RENTA
FRAGRANCE
TOPSHOP
KINECT
NEXT BLUE
JEANS
SEPHORA INSTORE
BOUTIQUES
TWITTER
ASSISTANTS
As we’ve studied youth trends, behaviors, and preferences consistently over the past year, it has become clear that
navigating the fast changing landscape has become increasingly challenging. From daily deals and group buying, and virtual
dressing rooms to Twitter assistants, the new ways in which young consumers are making their purchasing decisions are
evolving quickly, making them more unpredictable and elusive than ever.
Accumulating Facebook “likes” is one thing, but do you know how to keep brand advocates engaged beyond that initial click?
What about crowdsourcing and augmented reality, taste graphing, life hacking, micro-funding, and image recognition apps?
The means to consider creative new strategies are emerging quickly and constantly.
Our Insights into Gen Y presentation is designed to educate you on up-to-the-minute innovations and inform you of farreaching Macro Trends that affect consumer behavior across all sectors of commerce. Covering the digital landscape and
beyond, including best-in-practice marketing examples, the presentation is conceived specifically with the intent of inspiring
you to conceive your own new ideas for how to deepen your business’s unique customer relationships.
Want to know more about The Intelligence Group?
Contact Jamie Gutfreund at [email protected]

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