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Albing International Marketing initiates new research to identify the coming impact of Generation Y consumers on the home furnishings industry

New York, NY: Albing International Marketing (AIM) is embarking on an innovative new study, “Alternatives Lifestyle—Generation Y Makes a Home”, that will help its home furnishings industry clients plan for a successful future with a group of more than 70 million consumers often referred to as Generation Y, Millennials and Echo Boomers among others.

“We have had an increasing demand from our clients to learn more about younger consumers, said Robin Albing, president of AIM. Tabletop and housewares marketers are seeking information about the predicted upswing in the wedding market. And our giftware clients are targeting younger collectors as they see the aging of the overall collectibles audience.” Furniture and accessories marketers, too, will benefit by getting to know this group who will soon be shopping to furnish their first homes.

Generation Y is the most powerful consumer group since the post-World War II Baby Boomers,perhaps even more so. Born more or less between 1977 and 1997, members of Generation Y range in age from 3 to 23. The leading edge of this group has just graduated from college and is entering the household formation phase. By 2004 alone, approximately 22 million will be in this phase.

“Generation Y is the most informed and ethnically diverse generation in US history, one that has been offered a multitude of alternatives from day one, commented Albing. One of the defining features of this group is their pull away from the status quo and their push toward alternatives; alternative sports, alternative media and communication, alternative music, alternative fashion. In fact, the marketers that have been most successful with this audience so far, have been able to tap into this theme.

Albing added, It is imperative that home furnishings marketers gain a thorough understanding of how members of Generation Y think, Albing continued. Brands and products that fail to become relevant to this group will miss a huge marketing opportunity that could be pivotal to their survival in the marketplace.”

AIM is embarking on a major effort to provide its clients with tools to reach these Generation Y consumers as they begin the household formation phase. “Alternatives Lifestyle—Generation Y Makes a Home” will incorporate several forms of research, both traditional and leading edge. AIM will conduct focus groups with Generation Y consumers in four geographical regions as well as maintain an on-going and diverse panel of college students and recent graduates who are beginning to experience life on their own.

Additionally, AIM will use online focus groups, chat sessions, and questionnaires. According to Meri Pollak, director of research at AIM, “This primary research will allow us to achieve an in-depth understanding of Gen Y consumers their attitudes about the home and home products.” Pollak added, “Already we have seen that this is an extremely diverse, technologically savvy and time-pressed group that is used to confronting many choices. It will be fascinating to learn what motivates them with regard to choosing products for their homes.” To make the study even more relevant, subscribers will be invited to submit their own questions specific to their business / product category during the research process.

““Alternatives Lifestyle” will be an on-going effort over several years, as members of Generation Y grow into adulthood—as they move into their first apartment, get married and start families” said Albing. Subscribers will receive reports semi-annually.

Since it’s founding in 1988, Albing International Marketing has provided a range of marketing services to clients in the home furnishings industry on four continents. In addition to strategic business planning and product development, AIM has become known for market research and landmark trend studies such as “Windows on the Millennium” (1991) and the update, “Countdown to 2000” (1996). Recent clients who have used both AIM’s research and marketing services include American Greetings, Donna Karan, Lifestyle Furnishings International, World Kitchen and Amway Corporation.

To subscribe or request further information about “Alternatives Lifestyle: Generation Y Makes a Home”, contact Albing International Marketing (AIM): Call 908-788-5411, Fax 908-788-9767 or e-mail aim@albing.com