The Battle for Young Wallets
Why Generation “Y” is Destined for Failure.
There has been a lot of discussion regarding spending habits that haunt adolescents and young adults. While our parents and theirs before us were plagued by the need to own properties and settle down, the future Generations seem more consumed with the idea of changing the usual status quo. Over university, they are choosing college and alternate forms of education, some even forgoing continued education institutions. Instead of average eight hour a day jobs, there are entrepreneurs who become self-made CEO’s and start businesses on social media platforms like Instagram and Twitter. Unfortunately one tradition that many have chosen to continue from our parents past is astronomical amounts of debt (Alini 2010). The main difference …show more content…
A brand evangelizer, according to Ignite Social Media, is someone who wants to talk about and share your message and get involved (Wilson 2013). Brand evangelists are traditionally the first to follow a brand and further its growth by promoting the company and it’s products (Wilson 2013). In Neutrogena’s case, the girls they recruited to promote their campaigns to classmates and friends were rewarded with prizes such as concert tickets (Alini 2010). This is one example of how to entice youth to spend money, that at such a young age, they have not yet had to work for. By being fed the tools to immediately satisfy their wants on their parents dime, it ultimately creates a systematic issue when these teenagers grow older and become compulsive buyers because they’ve learned from experience that in order to get what they want they can rely on social institutions (such as banks and loans) and borrowing money from family and friends to quickly achieve what they
Why Generation “Y” is Destined for Failure.
There has been a lot of discussion regarding spending habits that haunt adolescents and young adults. While our parents and theirs before us were plagued by the need to own properties and settle down, the future Generations seem more consumed with the idea of changing the usual status quo. Over university, they are choosing college and alternate forms of education, some even forgoing continued education institutions. Instead of average eight hour a day jobs, there are entrepreneurs who become self-made CEO’s and start businesses on social media platforms like Instagram and Twitter. Unfortunately one tradition that many have chosen to continue from our parents past is astronomical amounts of debt (Alini 2010). The main difference …show more content…
A brand evangelizer, according to Ignite Social Media, is someone who wants to talk about and share your message and get involved (Wilson 2013). Brand evangelists are traditionally the first to follow a brand and further its growth by promoting the company and it’s products (Wilson 2013). In Neutrogena’s case, the girls they recruited to promote their campaigns to classmates and friends were rewarded with prizes such as concert tickets (Alini 2010). This is one example of how to entice youth to spend money, that at such a young age, they have not yet had to work for. By being fed the tools to immediately satisfy their wants on their parents dime, it ultimately creates a systematic issue when these teenagers grow older and become compulsive buyers because they’ve learned from experience that in order to get what they want they can rely on social institutions (such as banks and loans) and borrowing money from family and friends to quickly achieve what they