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Is the age of discounts over?
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<blockquote data-quote="Dannyalcatraz" data-source="post: 3623019" data-attributes="member: 19675"><p>Yup.</p><p></p><p>My first real lesson in the spending power of Gen Y came in the early 1990s, while I was still in Law School. I was visiting some family friends in Michigan and we went for an outing in the city. We stopped in a record store, where I bought a couple of Soundgarden CDs. Each of the little girls bought a New Kids on the Block CD.</p><p></p><p>I thought nothing of it until later that evening when I found out that each of the girls had just completed their collection...every girl now had a CD <em>for each member of the band.</em></p><p></p><p>(Personally, I can't recall my parents ever buying me multiple copies of anything that wasn't a neccessity...)</p><p></p><p>Similar buying trends- single purchaser, multiple copies- among Gen Ys were seen with the careers of other boy bands of the era, some of their members who went solo (Justin Timberlake), Britney Spears, and Christina Aguilera. Their purchasing patterns knocked artists who appealed mainly to adults right out of the top slots.</p><p></p><p>Its not all tweenie mind control, though- a major component of this purchasing power is simply statistical- Gen Y is almost as big as the Baby Boom, vastly outnumbering Gen X. And on top of that, compared to the Boomers, there is a higher percentage of them going on to college etc., improving their long-term purchasing power.</p></blockquote><p></p>
[QUOTE="Dannyalcatraz, post: 3623019, member: 19675"] Yup. My first real lesson in the spending power of Gen Y came in the early 1990s, while I was still in Law School. I was visiting some family friends in Michigan and we went for an outing in the city. We stopped in a record store, where I bought a couple of Soundgarden CDs. Each of the little girls bought a New Kids on the Block CD. I thought nothing of it until later that evening when I found out that each of the girls had just completed their collection...every girl now had a CD [I]for each member of the band.[/I] (Personally, I can't recall my parents ever buying me multiple copies of anything that wasn't a neccessity...) Similar buying trends- single purchaser, multiple copies- among Gen Ys were seen with the careers of other boy bands of the era, some of their members who went solo (Justin Timberlake), Britney Spears, and Christina Aguilera. Their purchasing patterns knocked artists who appealed mainly to adults right out of the top slots. Its not all tweenie mind control, though- a major component of this purchasing power is simply statistical- Gen Y is almost as big as the Baby Boom, vastly outnumbering Gen X. And on top of that, compared to the Boomers, there is a higher percentage of them going on to college etc., improving their long-term purchasing power. [/QUOTE]
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