KPMG International’s Customer Insights study found Millennials are influencing their Baby Boomer parents – and Baby Boomer parents are influencing their Millennial children. This is what we call the Western Baby Boomer Echo Effect.
Young people have always led the early adoption curve, but with the increased proximity of Millennials to their parents, that curve is extending. Behaviors across the generational gap bridge the gap and create an opportunity for businesses.
Western babyboomer echo effect
Behavior transfers between Millennials and their Baby-Boomer parents are happening more rapidly than in the past. Technological improvements and economic realities have entwined two of the largest generations in Western history and, as a result, are accelerating the rate of technology adoption. Technology is enabling closer connections between these two generations. Some 30 to 40 years ago, when boomers were in college, making contact with their silent-generation parents typically involved a short phone call on a rotary phone, down the hall from their dorm room, with a line of people behind them waiting for their turn. With few brief communications, less information was exchanged. And when they graduated, fewer of them came back to live at home than we see today.