Like no other time in human history do we have three key age demographic segments that will play a pivotal role across a wide range of industries in the future. Each of these demographic segments will need to be targeted differently. Each will provide enormous growth opportunities, for businesses that understand their needs.
The three key global consumer sectors are:
- The 50+ Boomer to retirement market which we define as the ‘Second Life’ Generation;
- The ‘Rewriting the Book of Life’Generation – Millennial’s;
- The ‘Born Connected’ Generation – Gen ‘i’.
Born connected generation – Gen ‘i’
This is the newest demographic group who are up to the age of 17. They only know the connected world, where everything they want is available at the click of a button or a swipe of a screen. Their expectations are unique; as children they have always had instant access to whatever they want. This generation is all about connectedness. Holidays with family and friends both domestic and international travel are the norm. This group of people need to be entertained and stimulated and always have access to their devises, whether a toy, a game, a movie or social streaming, the key with each is its connectedness to another device or to the internet.
As this generation moves to adulthood they will demand and expect everything now. Getting their entertainment, communications, shopping and social interaction has happened instantly. They don’t know the meaning of ‘waiting for something’. This generation will be independent, far smarter than the generations before them and far more in tune with themselves via health and medical apps monitoring their every move. They will be tech savvy, demanding and independent.
Every aspect of their lives will be monitored; from new education methodologies with corresponding tracking by teachers, through to tracking performances in sport, health, diet, what they consume, where they travel, what they like and dislike. This will be the generation that has more information about themselves than any other generation. How companies market to this generation will be challenging. It will be more about connecting and relating to each person as an individual rather than the traditional ‘shotgun’ approach of current day marketing.