Autumn 2008

Do you know what a 'millennial' is? If not, you could already by missing out on attracting a new wave of consumers. So says Genesys, the contact centre systems specialist, which has run a global survey on what it calls the millennial generation. These are people born between 1982 and 2001, who will gradually make up an increasing proportion of all consumers.

The survey found that investment strategies are shifting to favour millenials: 42 per cent of respondents said they should tilt toward younger customers, while 39 per cent would shift toward baby boomers and generation X.

However, 54 per cent of companies have not yet set their strategies or marketing for millennials, the report says, even though they overwhelmingly agree that such steps are needed. Indeed, 75 per cent saying millennials will have an impact on their organisation as consumers in the next three years.