“The Silent Generation” (1927-1945), Indian Gaming’s top demographic with 95% retired in just a few short years will be virtually BE “silent.” Soon after “The Baby Boomers” (1946-1964) will also drop in numbers and eventually put down their nickels and stop playing indefinitely. The demand for Indian gaming will dramatically decrease causing individual casinos to vie for the loyalty of their customers and will create utter turmoil in the industry. There is however a way to avoid this scenario and it rests in the lap of the up and coming “Millenial Generation”.
The Millennial Generation is comprised of those who are born in between the years 1979 and 1994. They are the second largest generation in recorded history, just less then the baby boomers stated earlier. The only problem is how to capture the interests of this very diverse generation. They are a huge generation of impatient, experiential learners, digital natives, multi-taskers, and gamers who love the flat, networked world and expect nomadic connectivity, 24×7. More importantly they are demanding consumers who expect more selectivity, personalization and customization in their products and services. As of now the Indian Gaming industry is slowly moving towards this next generation concepts to try and match the demands of this up and coming economical giant.
Great portions of the Millennials are now at least 27 years old (i.e. those born 1979 though 1983 in 2010). They have already graduated college and are well into careers. The remaining Millennials 1984 to 1994 is the part of the generation that just graduated from college, or is about to enter college by 2012. By 2016 the entire generation will be able to legally participate in Indian gaming. However exciting this may be, the truth is that the industry is nowhere near ready to appeal to these impatient customization craving interactive fanatics. The Indian gaming industry is still stuck on the same traditional principles it was founded with. And we must more forward into more tech savvy, personalized properties.
The Millennials take pride in the fact that they are knowledgeable in technology. Some ideas to appeal to this group would be to have the newest of the new innovations at all times. Like interactive games with interactive screens and one-to-one marketing techniques that allow the customer to choose how, what, when and where they want offers received. Large multi-player buy in games that is interactive and interconnected where friends could help each other play and win, or try to take other players winnings. Innovate games and promotions into music and digital effects. Other ideas like opening new and innovative nightclubs with the latest technology, hosting pool parties, offering online contests Via Facebook or Twitter. Even things like renovating rooms or decoration so each area in the casino is different or more modernistic/futuristic. The Millennials like change, constant change keeps them interested, not flashing lights and ringing bells like the “silent” type. Another thing to consider is that the millennials aren’t going to right away become the best top-paying customer and you need to remember that you are investing in the future as well as paying the bills today.
If you are not constantly emerging and investing into technology, you will start loosing more and more market share and eventually it your customer base will just die off completely… literally, die off. The baby boomers still control the pot for now, but that wont last much longer. It’s about time to look into the future, into the new opportunity and be ahead of the game!