WHO ARE WE?
Gen Y comes of age: Well-educated young workers, some of whom are still completing their education, are employed in professional/technical occupations, as well as sales and office/administrative support roles. These residents are not established yet, but striving to get ahead and improve themselves. This market ranks in the top 5 for renters, movers, college enrollment, and labor force participation rate. Almost 1 in 5 residents move each year. More than half of all householders are under the age of 35, the majority living alone or in shared nonfamily dwellings. Median household income is still below the US Smartphones are a way of life, and they use the Internet extensively. Young and Restless consumers are diverse, favoring densely populated neighborhoods in large metropolitan areas; over 50% are located in the South (almost a fifth in Texas), with the rest chiefly in the West and Midwest.
• One of the youngest markets: More than half the householders under age 35; median age 29.8.
• Primarily single-person households (Index 163) with some shared households (Index 201).
• Highly mobile market, beginning careers and changing addresses frequently.
• Naturally, one of the top 5 renter markets (Index 233).
• Apartment rentals popular: 44% in 5–19 unit buildings (Index 487), 27% in 20+ unit buildings (Index 318).
• Majority of housing built in 1970 or later (84%).
• Education completed: More than 2 out of 3 have some college, an associate’s degree, or a bachelor’s degree or higher. Almost 14% are still enrolled in college (Index 175).
• Labor force participation rate is exceptionally high at 75.0%; unemployment is low at 5.2%.
• These are careful shoppers, aware of prices, and demonstrate little brand loyalty.
• They like to be the first to try new products, but prefer to do research before buying
the latest electronics.
• Most of their information comes from the Internet and TV, rather than traditional media.
• Carry their cell phone everywhere they go.