Thirty years ago we talked about young urban failures. Are they today’s millennials?
Remember the Yuffie (Young Urban Failures)? We wrote about them 30 years ago – the baby boomers who didn’t quite measure up to the “Yuppie” income barometer of $30,000 +. The income level of the Yuffie was below $10,000!
While manufacturers, marketers and advertisers spent time and money courting the Yuppie Boomer maybe there was a failure to realize that not all Boomers had disposable dollars, were upwardly mobile or into owning the latest in electronic gadgets. The “Yuffies” were not given the attention they should have and our suggestion then was to give them a long hard look and discover what their needs in the marketplace were. Much like how we now view the millennials.
Once a demographic that was not understood and not a focus for marketers, retailers and manufacturers, these groups have now, in turn, realized the importance of this group. As the largest generation since the baby boomers, the millennials are impacting the industry. From social media to mobile shopping to health and socially conscious food choices, the tastes and trends of the millennials are now getting the attention the Yuffies never received.