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Growing up during entirely different events in time, the Baby Boomers and the Millennials are completely different groups of people. They have different perspectives, values, and opinions. Specific research groups conduct studies to make general comparisons of the two age groups.
Studying the results of this research can help certain companies with marketing techniques, strategies to grow their brands, and helps employers to stay up-to-date with the needs of their future employees. Knowing the characteristics of the generations can give us an idea of how the market will change in the future.
Every new generation plays a role in the future of our economy. As the Baby Boomers start to retire, the Millennials will be taking over. New characteristics of employees guarantee that there will be changes in the way things are done and how/why products are bought.
Not only is understanding generational differences beneficial for marketing, it’s also really interesting for everyone else; seeing how growing up at different times, with different living situations, can change the entirety of an age group.
The following is a list of comparisons between the Baby Boomers and the Millennials.
The Baby Boomers make up 45% of the workplace, while Millennials make up 10% of the workplace, with the percentage continuously growing.
If you look around and observe the people around you, it’s easy to notice that there are general differences between generations. However, the range of people within each age group is too broad for these characteristics to be certain for every person. Everyone is different, the differences between generations are generalizations.
By: KayLynn P.