Parents play a major role in shaping their children’s attitudes about debt, saving and spending. But 15- to 25-year-olds have a sizeable impact on their parents’ spending behavior, particularly when it comes to technology, according to a survey conducted by InSites Consulting and MTV.
51% say they influence the technology their parents’ adopt.
41% say they influence their parents’ purchase of products and services.
31% say they influence their parents’ decisions on where to shop.
So what appeals to the Gen Y market? Survey respondents listed the five most important characteristics for a brand or product as:
1. Up to date
2. Own style
5. Clean reputation
Coolness and trendiness ranked much farther down the list, which indicates Gen Y’ers are looking for substance over form, and originality instead of cookie-cutter style. If you can manage to present an authentic image that meets those demands, maybe they’ll talk their parents into giving your product or service a shot.