“Gen Y”, “Echo Boomers “, “Millenials”, “Net Generation” – marketers have a litany of monikers for the generation of individuals born between the years of 1982 and 1991. However you choose to name them, this generation is fast emerging as a dominant force in the consumer market. The largest American generation since the Baby Boomers, Gen Y is helping to set trends from technology to media to fashion.

A recent Stores Magazine article by Fiona Soltis explores the impact of this generation on luxury brands:

http://www.stores.org/STORES%20Magazine%20May%202011/tastemakers

The moral of the story is this:  luxury brands must start engaging and embracing Gen Y.  The payoff may not be immediate, but the long-term effects of ignoring this influential set could prove fatal for some consumer brands.

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Be sure to check out our previous post on Gen Y consumers:  “Affluent Brands Need to Get Social with Gen Y”