Opinion: Multifaceted Millennials

(Rapaport) - The future of our industry will depend on our success in enrolling the largest living generation: the millennials. Millennials are, in fact, one of the largest generations in history, and they are about to enter their spending years. But it’s a mistake to assume that this army of consumers is one unitary target. Given that they’re generally categorized as born between 1980 and 2000, it’s wrong to think millennials (also known as Gen Y) are all at the same life stage, or to assume they want the same things. They don’t. Identified most easily by their digital facility, they nonetheless span widely different psychographic segments: While some might still be in school or traveling, others are already married, with mortgages, children, and all that these imply.