Consumption and Generation Y

An article in today’s SMH deals with Generation Y and their spending patterns and the crisis of housing affordability.

The article is quoting a report called State of the Nation, published by Roy Morgan research, and is based on a decade of interviews.

From the article:

“… there are few hints of a counter-culture among today’s young adults. More than half of the under-30s agree with the statement “I enjoy clothes shopping,” and more than a quarter agree with the statement “I was born to shop”. Almost as many would eat out every night, if they could afford it. Not surprisingly, they are much more likely than their elders to go to the cinema, eat out, go to a nightclub, buy fast food, go to a pub or even visit a music store. They like to spend their money on travel and technology, particularly mobile phones, which will come as no surprise to anyone, especially the phone companies, which are making lots of money out of them. The Morgan research finds that 91 per cent of the under-30s have mobile phones (perhaps the more surprising finding is that 9 per cent of them do not) and that they spend $54 a month on them, compared with $45 for 30- to 44-year-olds. They also like to buy computers, and plasma and LCD televisions. And travel.”

You can read the full article here:

Pain in the assets: generation Y’s lost years

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4 responses to “Consumption and Generation Y

  1. There are 9% of us without mobiles? That makes me hardly unique then. So you can all stop giving me stick about that.

    So better educated, in debt for longer, bouncing from job to job and held there by increasingly ageing and wealthy boomers. Sounds like the life.

  2. dan for as long as you can get away with it – stay away from the mobiles!

    yeah … it sounds like a pretty peachy picture doesn’t it! hmmmm … damn boomers have gorged on free energy and oil and leaving us with the effing bill.

  3. It sucks. And I get all guilty about driving down the coast for a few days at the end of semester due to climate change, on my bike all during it. Yet they could drive everywhere (with a free education to boot) for 50c a litre and not a care in the world. If only. And they try and tell us we’ve got it easy now.

  4. (as an aside, i’ve made you an editor of this blog now so i shouldn’t have to approve your comments anymore! and you should be able to create posts, etc.)

    i understand what you mean. it would be so easy just to be effing angry and aggressive and nihilistic in the style of fightclub … we’ve inherited a system and world that was not of our making that is crumbling, crap and is going to cause us a great deal of pain in fixing up. it is not our fault yet we are left picking up the bill and having to do the hard yards. there is certainly a temptation to give them all the big finger and tear down everything they have created. maybe that is just me.

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