Gen Y consumers don't think of brands or develop trust in them in the same way their older counterparts do, SALT Branding's Paul Parkin says. "They want to interact with companies, and with each other," he argues. Their loyalty lies with channels, such as social media, rather than with brands. Those who succeed with Generation Y are "recognizing that consumers want to engage with brands in entirely new ways, such as through mobile or social media," he says.
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