Generation Y and Baby Boomers: An extensive look into their buying patterns and personality traits.

Generation Y: Who Are They?
Born during the period 1978-1994, the Gen Y's, 71-80 million strong, now comprise 30% of the US population, a group larger than the Boomers and more than twice the size of the Gen X sector. Not since the first Baby Boomers began their teenage years have so many Americans been adolescence:
Now almost half of the Boomers’ 71 million children are teenagers, making them the largest teen population in US history. Like their parents, members of Gen Y compose an enormously powerful group that has the sheer numbers to transform every life stage it enters. (Morton)
According to industry trade publication, Advertising Age, "marketers traditionally defined kids as ages 6 to 12...Today, there are at least six recognized youth segments: ages 6-8, 9-12, 13-15, 16-18, 19-21 and 22-24.” Most marketers carry a distinct bias with respect to kids' buying habits and motivations. Some project Gen X behavior to the Y's, an obvious mistake since the personality of either...