“Millennial Consumers” – the latest drag on the American economy?

That big, lucrative generation of oh-so-attractive buyers – Gen Ys, aka Millennials – is having a tougher time of it.

The “new normal” for older Gen Ys (ages 13-31) includes joblessness, valueless degrees, low-paying jobs, and part-time jobs.  And, let’s not forget that many are living with their parents, whose irrational exuberance may have helped cause this mess.

A recent blog entry points out:

  • Gen Ys are not into cars (a few short years back, Toyota designed the Scion just for them.)
  • They’re eating out one meal less per week than they did five years ago.
  • They’re not buying homes.
Gen Ys like to buy.  They thrive on it.  But, the perennial Millennial spender is a thing of the past, and, generationally-savvy companies are going to have to work harder to capture those young consumers who do have disposable cash.