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Merrick, NY—Marketers adore the 18-35 demographic. Whether it’s today, targeting the Millennial generation, or decades ago targeting the Baby Boom generation in its youth, everybody wants a share of the young adult wallet.

But just as the huge Boomer generation wasn’t a homogenous group, today’s marketers are discovering there is value in further segmenting the enormous Millennial generation. The generation that wants everything customized and individualized isn't all alike at all.

Among Boomers, those born soon after WWII had vastly different experiences growing up than those born around 1960. The Big Chill, for example, was a hit among older Boomers, but The Wonder Years was far more realistic to younger Boomers.

A recent post on Engage: Millennials points out that older (27-35) and younger (18-26) Millennials differ greatly in their financial attitudes, because the two segments experienced the recession and its effects in vastly different ways. Though all Millennials were affected by the recession, younger Millennials have been more substantively impacted.

For example, says the blog, younger Millennials are more likely to have student loan debt and are less likely to be employed than previous generations were at the same age. Only 54% of Millennials 18-24 are currently employed, and 40% have student debt.

Two-thirds more Millennials live at home than did their older counterparts at the same age. And they’re not buying big-ticket items like cars and houses. Whereas older Millennials who came into adulthood prior to the recession were able to buy big-ticket items at a young age, many younger Millennials still can’t afford a car without some parental assistance.

As a result, 69% of Millennials ages 18-26 report trying to cut spending on things they don’t need—but many will define as a “necessity” things that older consumers might define as a “luxury.” Especially is this true for technology and experiences.

The blog also lists some other specifics to keep in mind:

• Younger Millennials will likely delay purchase of big-ticket items and often evaluate if they need them at all. This means the traditional markers of success are likely to evolve. 

• They define necessity and luxury very differently than prior generations. Even costly technology is at the top of the list of things they won’t cut. 

• They are deal-seekers: not ashamed about actively seeking deals or using coupons, and are unlikely to buy until they make sure they are getting the best price. 

• They consider building a secure future a top priority. 

Read the entire blog here.

Top image: Metro Atlanta Chamber