Because Gen Yers are still in the early years of their working lives, they are likely budget-conscious.
Helping Gen Yers protect their financial futures--and their families'--can make it easier for employers to retain this young workforce by building a more competitive compensation package.
Effectively tailoring benefits communications to be relevant to Gen Yers means understanding their attitudes and expectations regarding lifestyle and financial security.
Gen Yers tend to spread their dollars around generously, the study found, with more than half visiting a variety of retail centers at least once a month, including discount department stores (the retail type most frequently visited by Gen Y), community shopping centers, enclosed malls, department stores, big-box power centers, chain apparel stores, and neighborhood business districts.
Gen Yers use the Internet to research products, compare prices, envision how clothing or accessories might look on them, or respond to flash sales or coupon offers, as well as to purchase items; they are definitely multi-channel shoppers.
Gen Yers have grown up with information technology, and they are accustomed to stimulation in the form of music, light, color, and action," commented ULI Chief Executive Officer Patrick L.