From Gen X to JenX: true confessions of a Former Slacker.

After spending freely in her twenties, JenX, the female member of Generation X now in her 30s, has no illusions about “having it all” and is rolling up her sleeves to build an adulthood grounded in reality. According to the first annual Tierneyxy(TM) survey, commissioned by Tierney Communications, JenX has actually grown up to be a savvy consumer, having redefined “having it all” as gaining financial freedom in her life.

The nationwide survey asked 1,000 women between the ages of 25 and 75 to assess their attitudes and actions when it comes to money and spending. According to Molly Watson, executive vice president, Tierney Communications, “Beyond providing insight into how women spend money in the marketplace, this survey provides a firsthand account of the financial realities facing women today. Marketers can’t assume anything about this consumer or rely on her old spending habits as predictive of her future buying choices.”

Trading Daddy’s Credit Card for Financial Freedom

In the 1990s they were painted as cynical slackers. The 49.1 million Americans born between 1965 and 1978, known as Generation X, were publicized in pop culture as the lazy, selfish, and arrogant younger counterpart to the Baby Boomer generation. Gen X was predicted to be the downfall of American society.

“Contrary to the predictions about this generation, the women in our study have a can-do attitude,” reports Watson. “They got caught under the wheel of college loans, credit cards and luxury brands, but as they’ve entered their 30s, they are demonstrating a strong willingness to get things under control, more so than any other age group in our study. She is
not the self entitled Slacker everyone assumed she would be.”

Women 30-39, many of whom were raised by first wave working Boomer mothers, have endured a latchkey childhood, divorced parents and have entered adulthood with debt in a highly competitive job market. But these women posses a toughness and brand savvy that marketers should take notice of.

According to the Tierneyxy survey, JenX is the most concerned about debt of any age group. A full 61 percent indicate they are concerned about debt, with 41 percent saying paying down debt is their number-one priority, the highest of any age group.

JenX’s willingness to cut back is most visible in her shopping behaviors. Even though this consumer was raised to want and to expect only luxury brands, she has matured and is now motivated to buy smarter and with greater discernment than any of her predecessors. Sixty-six percent of women in this age group have cut back on spending in the past two years by reducing their spending on premium name brands and shopping at premium stores.

A Force to Be Reckoned With

According to Watson, this savvy consumer presents a challenge to marketers because she has learned to become brand agnostic by perfecting the art of “cherry picking” for the best value. These women spend less on themselves now than they did in the past. In fact, 78 percent say that, “when it comes to buying clothing, I don’t buy much for myself.” In addition, women 30-39 are the most likely (50%) to shop for the lowest prices at the grocery store.

“JenX is going to be a highly formidable consumer in the years to come,” predicts Watson.

“She’s been brought up with tremendous brand savvy and now she has made the commitment to really watch her dollars, and at the expense of traditional brand preferences. She has learned to ‘cherry pick’ to find purchases with real value for her and her family.”

The result of this resolve is a happier, more optimistic picture than what is often painted in the media. “Our study showed that JenX is actually more positive and optimistic about her future than other age groups, with 39 percent saying that their life is ‘joyful,'” said Watson. “This is a direct result of gaining control over her choices and spending, as well as
her expectations.”

For more information at http://www.tierneyagency.com