They shall inherit the earth, but they’re anything but meek. Generation Y – broadly defined as comprising those born between 1980 to 1994 – is the online generation, the experiential generation, willing to change jobs and go travelling at the drop of a hat.
Gen Y wants advancement – not necessarily related to work performance or experience – or they're outta there. They face hefty university debt but are also willing to spend big dollars on holidays. They are not immediately willing to save for a house – scared off by property prices, and because they can always lob back in on mum and dad.
But Gen Y is also a generation whose spending habits are emerging as a driver in certain industries. According to Commonwealth Bank data on the spending habits of two million of its customers, Gen Y consumers are driving growth in online retail sales.