Generation Y, at over 80 million Americans, spends more money than any other group of consumers today. A generation with an average age in their mid 20s, many are renting apartments or living with their parents, which has become more accepted among their peers due to the recession, underemployment, and high rates of student loan. They will move out when they feel like it, or when their attention and emotions are captivated by a home that is particularly suited to their lifestyle and personality.
This group has grown up online and is used to having an abundance of information and opinions readily available. So when a home catches their eye, they do their research and show up with questions. This discriminating set of buyers wants to know how and why this home is right for them, and their short attention spans are looking for either concise, direct answers or a compelling story to capture their imagination. They understand that their choice of community and home reflects their worldview and will go viral with a great story that’s aligned with their values.
They are also looking for--and expect--good design. They’ve grown up surrounded by good design in their phones, headphones, bicycles, computers, cars, music videos, cooking utensils, and now they expect it in their homes.
While a good price is important to them, price isn’t enough. These
young people personify the idea that just
because I don’t have money, doesn’t mean I don’t have taste. At my firm, we have identified five design attributes that are
meaningful to Gen Y. It makes sense to include these in all of your projects
that cater to this group of smart, savvy young people. Scroll through for more info.