How Gen Y are coming to dominate the workforce and new customer base
This graphic from CompTIA (Non-profit trade association) is fascinating. Basically it says that GenX who represent about 1/2 the population of Gen Y are being quickly overtaken by Gen Y. Gen Y are replacing Gen X rapidly and Gen X just get older. This from a CompTIA report that highlights the extraordinary impact that Millenials will have on the workforce.
I would add the impact on Banks, channel usage and expectation will be similarly dramatic. We should be increasingly viewing the channels and account acquisition in context of Millennials expectations, as they gain income and wealth.
Coming of Age: 1988-1994
Age in 2004: 28 to 38
Current Population: 41 million
Sometimes referred to as the “lost” generation
Generation Y, Echo Boomers or Millenniums
Coming of Age: 1998-2006
Age in 2004: 10 to 22
Current Population: 71 million
The largest cohort since the Baby Boomers
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