Discovering the values of generation X and millennial consumers in Indonesia

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Millennials and Generation X (Gen-X) are the fastest-growing market segment in Indonesia. The study aims to discover the salient values of those generations and to investigate their value differences. Data were obtained via questionnaires from 200 respondents of each generation. The questionnaires measure the importance of the values of each generation, consisting of nine values from the List of Values established by Kahle (1986), namely Sense of belonging, Excitement, Being well respected, Fun and enjoyment, Security, Self-fulfillment, Self-respect, Warm relationships with others, and Sense of accomplishment. This study employed factor analysis to identify sets of values representing their underlying values. This method resulted in three inherent values of Gen X and two of Millenials. Gen X shows the importance of Achievement, Family enjoyment, and Social relationship. Meanwhile, the Millennials are conspicuous by the values of Social recognition and Self-pleasing. Companies that choose Gen X as their target market can use their above-mentioned values to be expressed in their marketing strategies. Meanwhile, those who choose Millennials may use the two inherent values of this generation. This study fills a research gap on the characters of the emerging young generation segments in the country that can be adopted to generate market segment characters in the country.

Acknowledgment
This work was funded by a research grant from the Universitas Padjadjaran, Indonesia.

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    • Table 1. Kahle’s (1986) List of Values (LOV)
    • Table 2. Rotated component matrix
    • Conceptualization
      Arief Helmi, Vita Sarasi, Umi Kaltum
    • Formal Analysis
      Arief Helmi, Vita Sarasi, Yogi Suherman
    • Investigation
      Arief Helmi, Vita Sarasi, Umi Kaltum, Yogi Suherman
    • Methodology
      Arief Helmi, Yogi Suherman
    • Resources
      Arief Helmi, Vita Sarasi, Umi Kaltum, Yogi Suherman
    • Supervision
      Arief Helmi, Yogi Suherman
    • Writing – original draft
      Arief Helmi, Vita Sarasi
    • Writing – review & editing
      Arief Helmi, Vita Sarasi, Umi Kaltum
    • Data curation
      Vita Sarasi, Yogi Suherman
    • Funding acquisition
      Vita Sarasi, Umi Kaltum
    • Project administration
      Vita Sarasi, Umi Kaltum
    • Software
      Yogi Suherman