Echo Boomers and Finance - US - September 2009
This report looks at this emerging generation, known as Echo Boomers, Gen Y or Millennials, and examines their aspirations, the challenges they face and their unmet needs. Echo Boomers represent the next generational bulge. More numerous than Gen Xers, these children of Baby Boomers are being groomed to take the place of their parents as a prime target for financial services marketers. This generation grew up during a time of prosperity, but Echo Boomers are entering the workforce and starting to establish households at a time of immense economic uncertainty.
Many Echo Boomers are digital natives. Even more so than Gen Xers, Echo Boomers are comfortable with online media and use the internet as a primary information source and use it for their social and commercial interactions. Marketing to these young adults means understanding the way they access information in today’s changing media environment.
This report seeks to address these questions and more:
- What are the unique challenges facing Echo Boomers?
- How has the economic crisis impacted these young Americans and what effect will this have for their future relationship with the financial system?
- What financial products and services are of greatest interest to Echo Boomers?
- What are the best ways to reach this market?
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