With changing times today’s GENERATION has changed & acquired the tag of Millennium Generation- a progress from Gen X.
A flash back to 1947, the generation after independence was the product of rebellion, was struggling & striving. Even the butter was imported (brand Polson), bread loafs were sold uncut, loans from banks were unheard, a rented house & cycle were the norm. Come 1960 projects to take care of basic needs like agriculture were in progress, come 1970 projects for basic need products were the norm & ‘Indianisation’ of products was in progress. Come 1980 & production with productivity was the focus, come 1990, globalization started, i.e. access to market of foreign brands was the buzz word.
With liberalisation comes competition & options with better quality & service, more jobs are created, more purchasing power is brought in & more consumerism and this brings in more young consumers .
India has the advantage of bottom of pyramid mass market & wider middle rung consumers. With avenues open to loans, housing, infrastructure, & telecom sector bridging the gap of communication & net giving way to much researched knowledge for features, attributes, alternatives to choice & decision making, the width & depth of market is expanded and the customer has the advantage of rejection & selection with borrowed money (credit cards /loans etc ).
The millennium generation is the offshoot of (BAD parenting ) both Busy, Agile, Demanding parents who have poor schedule of time for their off springs due to work pressure & due to their guilt, flood them with gadgets & lure them with games, accessories, and clothing & speed vehicles. Now this generation (post 1991 liberalization period) has taken the front seat & is entering the corporate world /social world.
The market makes the young networked generation the heart throb of local/multinationals. All marketing heads take the young, christened Millennium Generation as the most potential customer who is full of gratitude with highest magnitude of attitude & no compromising platitude, a well informed & connected to the highest altitude of information to take decision & be an advocate of the plethora of products.
Millennium generation is far more intelligent, decisive than the earlier ones due to awareness through gadgets, search engines access on hand sets, net connectivity etc. India has the highest population in the age group of less than 25 years the” Millennium generation” , & if Indian policy makers do not shape the Millennium generation to the best advantage for the country’s progress, then this best in class rapid fire generation will lose its momentum & push the shining country from struggling to growth curve to rebellion.