Thinking Generation Y
As a 30 year old, born in 1980, I am on the cusp of Generation X and Generation Y (depending on who you’re source is). I find myself a little “behind the times", as I prefer film photography over digital, books and magazines over e-books and Kindles, typewriters over computers, live conversation over texting, and I don’t own a TV. I also think I’m the “last man standing … alone", as I still refuse to acquiesce to the online conversations happening all around me on facebook and twitter. But at the same time, I have a personal relationship with my iPod, my digital SLR Canon and Windows 7 on my laptop. So what’s this got to do with the world of cosmeceuticals? Well, even though some of us are teetering between analog and digital as I do, Gen Y isn’t. Gen Y is online; they are digital; and their purchasing approaches are very different than someone who, like me, prefers to go into the stores and “try on" my cosmetics and personal care products.
Kristine Shine, VP of PopSugar Media, was invited to Estee Lauder’s Digital Media Day and was fortunate enough to mingle with the CEOs and marketing departments of the many Estee Lauder brands present. Her blog, “Engage:Gen Y The Beauty of this Generation", gave some juicy tips on where Gen Y is focusing its efforts and how to grab their attention.
Get Online. William Lauder, and Estee Lauder as a whole, have made it clear that its largest profits are coming from e-commerce … “The future of beauty is online." So who’s online? Gen Y is online. As Shine points out, Gen Y is the largest generation to date and they purchase everything online. Shine says, “Their investment in beauty products and commitment to specific beauty brands will grow as their personal income increases. It is imperative beauty companies speak to this generation now, in their language and on their platform. They are not reading magazines. They are not watching TV. They are online and social—and they are excited to discover you."
As a everything moves online, your company needs a build a strong online presence, and needs to learn how to leverage the social mediums available in order to catch the attention of this generation. They are your target market. Talk to them.
Sources:
- Mediapost.com: Engage:Gen Y—The Beauty of this Generation
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