Lots of research has gone into the spending habits of people by generation. Being part of the Gen-Y crowd, I show more than the normal interest in knowing how things are going for us, Gen Y-ers. Recently, I came across an interview(part 1, part 2) that discussed some pertinent stuff about our spending habits. It was an interesting read and I can identify most, if not all, of what was said.
But there was one thing that stuck out in this interview. She said the GenY might have to be split into two:under and over 20. True, I can see the difference between some of my friends/cousins who grew up with facebook, used cellphones when in grade school and use myspace as an active substitute for social activities. They think that googling/binging for some information is a natural thing to do and cannot comprehend it if we talk of looking up things in the papers/library. Worse, they think email is so damn uncool and the craze of forwards that held us by sway when I was a teen is the funniest thing ever! Damn! Nothing to make you feel old than that!
It is also funny how I used to think that we were the most tech savvy generation growing up with the Internet and getting to be the unencumbered generation that had the resources to try out all the fancy gadgets out there. But talking to the younger GenYers, I realize that their lives are more enmeshed in technology than ours(older GenYers) was at their age. One of my friends couldn't live without checking Facebook when he was in his village and he is only 17!! He said that it was the worst few weeks of his life because he felt he wasn't doing something that he did everyday! And Facebook didn't even exist when I was 17! And, they couldn't comprehend the joys that we had when we were kids playing in the rain and mud and dirt! An afternoon in the swing with a book and rose milk in hand or spent playing badminton/cricket all day is something they just can't relate to!
It would be interesting to see how our generation would turn out as the years go and if this subtle difference in our teen years would have a big impact in our spending habits, our approach to things in life, etc. This is a unique position to be in, for this setting cannot be recreated by any lab, not even on a smaller scale. Would we still be the same generation despite these subtle differences or would there be a big disparity in our attitudes and thoughts due to changes in our teen years? Ah! Now lets follow the 'Wait and Watch' policy!