As the effects of the 2008 financial crisis became more tangible, Sachs Insights initiated a project to understand the lives, trends and habits of Millennials, Gen X-ers and Baby Boomers. Click the gallery below to understand the varying perspectives of each generation and how they approach the changing economic climate.

1. 3 Generations
Aspirations and hard choices in the new economy

2. 2
RESEARCH OVERVIEW
Background & Methodology
A year after the financial crisis, Sachs Insights embarked on an in-depth look at life in
the new economy. Research was conducted September through October 2009 in 23
markets across the country and included:
• Half followed by affinity groups with close friends
• 30 Self-reported “video confessional” diaries from: Atlanta, Denver, Detroit, Indianapolis, New Orleans,
Orange County, and more.
• 130 respondents representing a range of backgrounds:
• Day in the Life interviews
• Range of income, occupations, family composition, and ethnicity
• Some hit hard (job loss, foreclosure)
• Some more fortunate
25 in-depth ethnographies in:
Boston, MA
Chicago, IL
Dallas, TX
Los Angeles, CA
New York City, NY
Orlando, FL
Philadelphia, PA
Seattle, WA
Washington DC

3. 3
Three Generations: Three Perspectives
Young Boomers
Ages 45–59
Generation X
Ages 30–44
Millennials
Ages 22–29
• Many don’t have the financial
security they worked for, hoped for,
and expected at this life stage.
• Many see grim prospects in the
current job market due to working
their entire lives in traditional
careers.
• Some are still cautiously optimistic
regardless of the challenging
economic uncertainty.
• They came of age in the 90s
recession. Now they are experiencing
another downturn just as many are
building lives with families of their
own.
• They live paycheck to paycheck and
many can’t save for the future.
• They have low expectations for
retirement. Many feel that work is a
“life sentence.”.
• Many GEN Xers are trying to keep a
positive outlook in the face of
problems they see as outside their
control.
• Having come of age in the post-9/11
era, many accept and expect that
their world can (and will) change on a
dime.
• Many are “stuck” and have had to
put their dreams on hold.
• The downturn is seen as a wake-up
call for their generation.
• Millennials turn to their support
network of friends as a safety net.
• Social networks empower them to
crowd-source jobs and homes.
Aspirations & hard choices in the new economy
An ethnographic exploration of the impact, realities, and opportunities of the economic
downturn.

4. 4
Key Findings Across Generations
Across generations, they are redefining needs vs. wants.
Fear inspires a desire to save – a new behavior for a new reality
Many are focused on value – thrifty behaviors that once seemed
“downscale” are now points of pride.
Time used to be a valued commodity – it was worth paying extra to save
just a little.
Many now see value in investing time to plan, research, and locate the
right price… it feels good to spend wisely. However, many miss the loss of
spontaneity. Spending on a whim is now seen as a luxury.
They are leveraging online resources to find and create deals. Blogs,
auctions, and social networks are channels for savings.

5. 5
Key Findings Across Generations (Continued)
DIY is a point of pride – favored for home-improvement and self-improvement.
When it comes to dining, drinking and entertainment – home is the new
“hotspot.”
Some purchases fall into the “gotta have it” category, such as smartphones,
vacations, and healthy foods.
Although store brands are getting greater consideration, almost all have
certain brands they simply will not give up.
Many are newly grateful for what they have and feel positively about living
within their means. They aim to live life more simply.

6. 6
Thank You!
www.sachsinsights.com
Sachs Insights
@sachsinsights
Sachs Insights

7. 6
Thank You!
www.sachsinsights.com
Sachs Insights
@sachsinsights
Sachs Insights