Accessorize: How to Profit From a New Demographic
A huge potential for mega growth is here today and it's sustainable. Generation Y is expected to surpass Baby Boomers in retail spending by 2015. This group consists of 113 million consumers who will spend an estimated $629 billion this year. They include singles, young professionals, young married couples and young families 21 to 44 years old.
By 2015 Gen Y will have more spending power than any other generation before it and will make up half the American workforce. Not only do they influence up to 50 percent of the $6.5 trillion in U.S. consumer spending, their opinions drive their parent's and other family member purchases. To profit from this knowledge, you must understand what drives their purchasing decisions.
The Urban Lifestyle is defined by how these young and middle-aged consumers personalize their living spaces. It's not about where they live but how they live.