VOTED BEST PAPER – The marketing obsession with ‘Millennials’ can be a distraction in two ways – firstly it makes us ‘lazy’ in terms of trying to understand market segments, and secondly we can end up ignoring the more valuable segments of the market, such as the Baby Boomers who can have considerably more spending power than the rest.
True, Millennials are growing up in a very different age characterised by debt, economic uncertainty, environmental degradation, and global terrorism – these impact consumer values, preferences, and behaviour. With reference to the travel, tourism, and the visitor attractions market, BDRC Asia will present findings on how generations can be different, but how we also need to be cautious about stereotyping generations and missing other opportunities.
Piers Lee, Senior Consultant & Managing Director, BDRC Asia.
Presented at Asia Research Breakfast Seminar in Singapore on September 27, 2017.
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