Generational marketing has a long history in the US, but is not so prevalent in the UK, or indeed many other markets around the world. Instead, over here people tend to talk about age bands and socio-economic groups, with phrases such as “25-34 year old ABC1s” being bandied around by media sellers and marketers.
The reason for this is that Britain is still a class-obsessed society. As a Russian colleague once said to me when discussing social classifications, “in Russia we do not have anything like your Cockneys.” Another might be that, on the whole, Brits tend not to think about themselves as part of a cohort group born around the same time. I myself might occasionally muse that I am a ‘child of the Eighties’, or one of ‘Thatcher’s children’, but even that is only to excuse my penchant for the Human League and Eurythmics.
All that changed the other week, however, when I picked up a Sunday supplement and was confronted by a contemporary of mine claiming that he (and by inference me) was part of ‘The Lost Generation’.
He argued that it is today’s twentysomethings who are paying the price for the excesses of the baby boom generation, with its free higher education, affordable housing and abundance of cheap credit. We, by contrast, have to contend with thousands of pounds of student debt, saving for deposits on extortionately priced housing and the mess that ensued when the credit bubble burst.
I have to say this is a view that resonated with me. At a time in my life when I should be thinking about going forth and multiplying, I’m worrying about student loan repayments, how to get on the housing ladder and how best to care for elderly relatives. These are of course all concerns that are shared with many consumers around the globe. But is it just a case of sour grapes on the part of a generation that is in fact not that badly off but likes a good moan?
Well interestingly, it’s not just people in their late twenties who are coming to recognise this issue. A leading light in the UK Conservative Party, which is widely tipped to win the country’s imminent elections, has just written a book entitled The Pinch, which explains how, “the baby boomers stole their children’s future.” As well as being a baby boomer himself, the author, David Willetts, is viewed as being such a great thinker that he has earned the soubriquet, “Two Brains”.
At GfK Roper Consulting, we examine closely how evolving consumer concerns and needs manifest themselves in changing attitudes and behaviours, and generational and cohort breakdowns by market are key filters for our analyses. A major client study on global baby boomers we carried out last year shed new light on how this generation will differ from today’s over 65s as they enter retirement. I for one will be examining this year’s data carefully to see how my contemporaries around the world are feeling about the challenges we face. If only my question on attitudes to Eighties synth pop had made the final questionnaire…
Talkin' 'bout My Generation Nothing brings people together like a shared grievance
Generational marketing has a long history in the US, but is not so prevalent in the UK, or indeed many other markets around the world. Instead, over here people tend to talk about age bands and socio-economic groups, with phrases such as “25-34 year old ABC1s” being bandied around by media sellers and marketers.
The reason for this is that Britain is still a class-obsessed society. As a Russian colleague once said to me when discussing social classifications, “in Russia we do not have anything like your Cockneys.” Another might be that, on the whole, Brits tend not to think about themselves as part of a cohort group born around the same time. I myself might occasionally muse that I am a ‘child of the Eighties’, or one of ‘Thatcher’s children’, but even that is only to excuse my penchant for the Human League and Eurythmics.
All that changed the other week, however, when I picked up a Sunday supplement and was confronted by a contemporary of mine claiming that he (and by inference me) was part of ‘The Lost Generation’.
He argued that it is today’s twentysomethings who are paying the price for the excesses of the baby boom generation, with its free higher education, affordable housing and abundance of cheap credit. We, by contrast, have to contend with thousands of pounds of student debt, saving for deposits on extortionately priced housing and the mess that ensued when the credit bubble burst.
I have to say this is a view that resonated with me. At a time in my life when I should be thinking about going forth and multiplying, I’m worrying about student loan repayments, how to get on the housing ladder and how best to care for elderly relatives. These are of course all concerns that are shared with many consumers around the globe. But is it just a case of sour grapes on the part of a generation that is in fact not that badly off but likes a good moan?
Well interestingly, it’s not just people in their late twenties who are coming to recognise this issue. A leading light in the UK Conservative Party, which is widely tipped to win the country’s imminent elections, has just written a book entitled The Pinch, which explains how, “the baby boomers stole their children’s future.” As well as being a baby boomer himself, the author, David Willetts, is viewed as being such a great thinker that he has earned the soubriquet, “Two Brains”.
At GfK Roper Consulting, we examine closely how evolving consumer concerns and needs manifest themselves in changing attitudes and behaviours, and generational and cohort breakdowns by market are key filters for our analyses. A major client study on global baby boomers we carried out last year shed new light on how this generation will differ from today’s over 65s as they enter retirement. I for one will be examining this year’s data carefully to see how my contemporaries around the world are feeling about the challenges we face. If only my question on attitudes to Eighties synth pop had made the final questionnaire…
Location Wars:The secrets of country brand marketing www.themarketer.co.uk Forget postcard clichés, country brand marketing has become big business as nations battle it out for top billing on the world stage to attract business and tourism. Muireann Bolger looks at what makes a strong country brand and the winners and losers of 2011
’Tis the season to be frugal www.economist.com THANKSGIVING DAY, which this year falls on Thursday November 24th, is fast approaching and retailers in America are getting ready to lay out their wares in the hope that the annual stampede by shoppers wi
08:56 PM
Nov 30
Attention Marketers: AMA TV brings you another great episode of marketing news and insights. Hear about big brands, networking and customer loyalty! This week hear how Gap is going back to basics and expanding their international presence, just in time for the holidays-networking, GfK Custom Research's 3 keys to help ensure a successful customer loyalty program and more!
AMA TV: Gap Goes Back to Basics videos.marketingpower.com Attention Marketers: AMA TV brings you another great episode of marketing news and insights. Hear about big brands, networking and customer loyalty! This week hear how Gap is going back
Younger Automobile Buyers Not as Brand Loyal as Older Counterparts www.marketwire.com NEW YORK, NY--(Marketwire - Oct 26, 2011) - During the past decade, automobile manufacturers have experienced a steady decline in customer loyalty for specific brands. This change signals the need for a new approach to marketing automobiles in the future according to a new survey conducted by GfK Au...
Holiday 2011 Trend: More Gifts Under the Tree ... For Me - DailyFinance www.dailyfinance.com Recession-scarred shoppers are tired of cutting back, and they're ready to give in to their pent up spending impulses, experts say. So after a few years of austerity, this holiday season, many people are going to be splurging a bit more on presents for themselves.
