Generational theory differs from other theories such as life span theory or developmental psychology theories (Bates et al., 1998) that look at specific characteristics of people within a specific age group. While such observations are valid and useful generational theory posits that behaviour is not only shaped by age but also by the social context a generation is brought up in (Berkowitz and Schewe, 2011). Generational theory provides a broad sociocultural approach rather than an individual focus on the consumer (Pendergast, 2007). Instead of competing with other paradigms of understanding groups it complements them by helping us to understand how social context helps to create some homogenous traits among generations (Pendergast, 2009). Utilizing generational cohorts allows marketers to create familiarity and personal appeals within marketing communications and therefore, be more likely to target products and promotions more effectively (Meredith and Schewe,2002). Therefore, by looking at traits of generation Y consumers marketers will be better equipped to appeal to this generation.