Gen Y Has Serious Buying Power

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According to a recent Harris Poll, 13-21 year-olds spent more than $120 billion in 2007. This demographic falls into the Generation Y category, typically those born between 1979-1999. This generation clearly has buying power - and they're very comfortable spending online.

According to Nielsen Online, half of consumers under age 24 made an online purchase between April 2007 and February 2008. It's a diverse group too. The US Census Bureau claims that out of the 70 million individuals who fall in the Gen Y category, just 60% are white. Compare that with 72% of baby boomers.

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