Much has been made of Boomers and even Matures working well-past retirement age and potentially denying opportunities to Millennials entering the job market. A new study from the Center for Retirement Research shows that the number of workers staying on after retirement age has steadily increased, whether from necessity or desire, over the last 35 years. However, increased numbers of retirement-age workers corresponds to more opportunities for younger generations, not less. The study shows that when older workers stay on the job, they create more economic growth and consumer demand, which, in turn, create more opportunities for younger workers. “Older… Read More
Categories: Generations, Matures, Recession Economy, WorkBaby Boomers are supposed to be the original “me” generation and the one most motivated by money, and Millennials have the reputation of being entitled and demanding, but it’s Generation X that’s most likely to ask for a raise, according to a survey of managers by SuccessFactors. Gen Xers were the most likely to ask for a promotion (49%), more money (39%), a signing bonus (37%), or better working arrangements (36%). Millennials were much less likely to demand promotions and raises, but did ask for additional training more than any other generation, a pattern consistent with other studies we’ve seen…. Read More
Categories: Generations, WorkplaceMacy’s, the venerable department store giant, is launching 13 new clothing brands and expanding 11 others to appeal to Millennial shoppers. Macy’s CEO Terry Lundgren predicts Millennials will be “the single biggest purchasing group, bigger than the Baby Boomers,” and declares, “We must be the place of choice for this consumer.” As we’ve suggested here, Millennials can be divided into two distinct groups and so, smartly, some of Macy’s new brands will be targeted at consumers aged13-22 and others at those aged 19-30. Macy’s estimates that Millennials can spend at least $65 billion annually on department store retail fashion, alone…. Read More
Categories: Product DesignIn an earlier post, we looked at the disconnect between Millennials’ nearly 2-to-1 support for the incumbent and their economic condition (struggling), which would typically incline them to vote against the incumbent. We noted that Millennials are not as dissatisfied with their status as many might believe and are driven in large part by social issues. Now, a survey by The Intelligence Group sheds some additional light by showing that Millennial voters are focused on the wider world and social causes more than their own economic condition. According to the survey, 73% of Millennials will base their vote for president… Read More
Categories: Menu 1, Recession Economy, Voting BehaviorThe recent Intelligence Group survey of Millennials found that they interact with candidates and political parties in the same way the interact with their favorite brands: through causes and social media. In Millennials, the president of the Group sees “little distinction between airing their support for a candidate, a cause, a team, a movie, a birthday, or a pair of shoes they’ve purchased.” Indeed, brand loyalty and brand evangelism expressed through social media channels are key Millennial consumer traits that shape their political activity. Two-thirds of them said in the survey that social media activism was more effective at creating… Read More
Categories: Product Design, Voting BehaviorAlmost exactly one year ago, Pew took a generational look at the coming election and found a distinct generation gap: the preferences of the youngest and the oldest groups of voters were distinctly at odds. A year and billions of dollars of campaigning has altered that basic equation only slightly. Pew’s final look at the demographics of the 2012 election reflects essentially the same gap as its first. In October 2011, Millennials favored the Democratic candidate by a margin of 26 points. Today that margin is 21. A year ago Matures preferred the Republican candidate by a margin of 10…. Read More
Categories: Generations, Matures, Voting Behavior