The Adults of Generation Y in the U.S.: Hitting the Demographic, Lifestyle and Marketing Mark : Market Research Report

The Adults of Generation Y in the U.S.: Hitting the Demographic, Lifestyle and Marketing Mark

Published by: Packaged Facts

Published: Dec. 1, 2008 - 303 Pages

Chapter 1: Executive Summary

Scope and Methodology

Scope of Report

Report Methodology

Gen Y Cohorts

The Simmons Index System

BIGresearch Data

Market Overview

Shared Sensibilities, From Tykes to Twenty-Somethings

Market Focus: Gen Y Adults Age 18-29

Gen Y Adults Number Approximately 40 Million

Figure 1-1: Gen Y Adults by Age Cohort, 2007(percent and number of U.S. adults age 18-29)

Gen Y Population Spread Across Marketing Regions

Hispanics a Powerful, Growing Minority

Multiculturalism Inspires Liberal Leanings

Strong Belief in Money as a Measure of Success

Not All Gen Yers Are College Bound

Customized Options Help Define Personal Style

Finances

Inexperience, Debt Constitute Double Whammy

Bank Accounts, Savings Levels Below Adult Average

Personalized Financial Services Can Build Future Loyalty

Confidence in Nation’s Economy Plunges

Varying Parental Roles in Bill Payment Muddy Financial Waters

Most College Consumers Still Rely On Mom and Dad

College Consumers Spending at Record Levels

Gen Y Attitudes About Debt and Money

Media, Technology and Marketing

Gen Y Worldview Integrates Self, Technology, Marketing

Gen Y Use Technology, Media to Brand Themselves

Mobile, Internet, Video Enable Daily Life

Blogs, Social Networking, Video Sharing Pervade Online Activities

Gen Yers Also Big on Online Shopping, Auctions, Product Research

Nearly All Gen Y Adults Use Internet

Tech Marketing Requires Intimate Understanding of Gen Y Values

Video Offers Immediacy, Emotion, Interaction

Visual Media Gaining Over Print

Online Video Appeals Across Gen Y Segments

Most Marketers Still Leery of Gen Y Marketing Techniques

Eating In, Dining Out

Long-Term Health Issues a Distant Concern

On the Run Eating Enables Busy Lifestyles

Organic, Natural, Eco-Friendly Earn Points

Gourmet Tastes a Major Draw

Exercise, Revving Metabolisms Compensate for Indulgence

Dorm Living Can Pack On Pounds

Busy Lives Preclude Regular Home Cooking

Gas Prices Curtail Frequency of Dining Out

Even In Groceries: Make It Cool, Eco-Friendly, Multi-Culti, Authentic

Wellness, Work and Leisure

Wellness a Given Among Gen Yers

Today’s Experiences Trump Worry About Tomorrow

Strong Undercurrent Intent on Keeping Youthful Appearance

Wellness at Work: Nurturing the Whole Person

For Millennials, Work Is About Being Wooed

Extra Education Builds Self-Confidence, Skills

Recruiting Requires Authentic Investment in Gen Y Values

Regular Exercise Helps Offset Blasé Approach to Health Care

Shopping Patterns Favor Electronics, Apparel

Avid Gen Y Sports Enthusiasts Value Risk-Taking, Cool Stuff

Action Sports a Major Niche, But Authenticity Stakes High

Chapter 2: Market Overview

Introduction

Shared Sensibilities, From Tykes to Twenty-Somethings

Market Focus: Gen Y Adults Age 18-29

Market Segmentation: Two Age Cohorts, Four Educational/Job Training Cohorts

Millennial Generation Echoes Qualities of Generations Past

Demographics, Attitudes and Consumer Style

Gen Y Adults Number Approximately 40 Million

Figure 2-1: Gen Y Adults by Age Cohort, 2007 (percent and number of U.S. adults age 18-29)

Gen Y Population Spread Across Marketing Regions

Figure 2-2: Gen Y Adults by Marketing Region, 2007 (percent of U.S. adults age 18-29)

Ethnic Diversity Underlines Need for Marketing Segmentation

Hispanics a Powerful, Growing Minority

Figure 2-3: Racial/Ethnic Composition of Gen Y Adults, 2007 (percent and number [000] of adults age 18-29)

Multiculturalism Inspires Liberal Leanings

Table 2-1: “We Should Strive for Equality for All”: Selected Gen Y Adult Segments, 2007 (percent and index of U.S. adults age 18-29)

Young Adults May Form Next Political Powerhouse

Figure 2-4: Percentage of Americans Registered to Vote: Overall and by Generational Cohort, 2007 (U.S. adults)
Table 2-2: Political Party Affiliation by Percentage of Generational Cohort, 2007 (U.S. adults)

Gen Y Irreverence Heats Up 2008 Presidential Campaign

Low-Budget “Obama Girl” Video a Web-Wide Sensation

Team Players Echo Values of Greatest Generation

Strong Belief in Money as a Measure of Success

Table 2-3: “Money Is the Best Measure of Success”: Selected High Index Gen Y Segments, 2007 (number, percent and index of U.S. adults age 18-29)

Wealth and Fame Are Common Goals

Social Networking, Reality TV Promise Instant Celebrity

Desire to Shine Crosses Income, Educational Brackets

Table 2-4: “I Like to Stand Out in a Crowd”: Highest Index Gen Y Segments, 2007 (percent and index of U.S. adults age 18-29)

Customized Options Help Define Personal Style

Demographic Diversity Correlates with Cultural Openness

Table 2-5: Political Outlook Across Generational Cohorts, 2007 (percent of U.S. adults)

Interracial Dating? No Big Deal

Gay? Whatever

Respect for Customs and Beliefs a Given

Figure 2-5: “It’s Important to Respect Customs and Beliefs”: Gen Y Adults Overall and by Age Cohort, 2007 (percent and index of U.S. adults age 18-29)

Hispanics, Low Income Brackets Strongly Support Cultural Respect

Figure 2-6: “It’s Important to Respect Customs and Beliefs”: Highest Index Gen Y Segments, 2007 (percent and index of U.S. adults age 18-29)
Figure 2-7: “It’s Important to Respect Customs and Beliefs”: Lowest Index Gen Y Segments, 2007 (percent and index of U.S. adults age 18-29)

But “Respect” and “Customs” May Require Qualification

Not All Gen Yers Are College Bound

Table 2-6: Gen Y Adults by Educational/Job Training Cohort, 2007 (percent and number of U.S. adults age 18-29)

Younger Cohort Most Likely to Be Full- or Part-Time Students

Figure 2-8: Educational and Job Training Status: Gen Y Adults by Age Cohort, 2007 (number [000] of U.S. adults age 18-29)

Vocational and Technical Training Offers Quick Road to Skilled Work, Decent Pay

Vo-Tech Offers Affordable Substitute or Supplement to Pricey Four-Year College

Substantial Gen Y Segment Holds High School Diploma or Less

No College, No Vo-Tech Equates with Low Personal Income

Gen Y Hispanics Outpace Adult Average with No College, No Vo-Tech Training

Table 2-7: Indices for Educational/Job Training Status by Race/Ethnicity, 2007 (U.S. adults age 18-29)

Behaviors, Attitudes, Preferences Differ Between College, Non-College Consumers

Polarized Attitudes About Credibility of Advertising

Novelty, Variety Draw Non-College Consumers

Non-College Consumers Lay Down Extra Dollars for Green Products

Table 2-8: Strongly Held Shopping-Related Attitudes Among Gen Y Adults: No College/ No Vo-Tech Background/Employed Full-Time vs. College Grad or More, 2007 (index of U.S. adults age 18-29)

Gen Y Consumer Style Favors Authenticity, Participation, Instant Availability

Marketing Tips

1. Be Real

2. Market to Communities, But Emphasize Individuality

3. Create Relationships with Consumer Segments

4. Research Segments 24/7

5. Word of Mouth: Let Them Discover You

Table 2-9: Demographic Composition of Adults Age 18-29, 2007 (number, percent of total age 18-29 group, and index in relation to U.S. adults overall)
Table 2-10: Demographic Composition of Full- or Part-Time College Students Age 18-29, 2007 (number, percent of total cohort, and index in relation to U.S. adults overall)
Table 2-11: Demographic Composition of College Grads Age 18-29, 2007 (number, percent of total cohort, and index in relation to U.S. adults overall)
Table 2-12: Demographic Composition of 18- to 29-Year-Olds Who Attended Specialty/Vocational-Technical School, 2007 (number, percent of total cohort, and index in relation to U.S. adults overall)
Table 2-13: Demographic Composition of 18- to 29-Year-Olds Without College or Specialty/ Vo-Tech School Background, 2007 (number, percent of total cohort, and index in relation to U.S. adults overall)

Chapter 3: Finances

Inexperience, Debt Constitute Double Whammy

But Future Earning Potential Is in the Trillions

Bank Accounts, Savings Levels Below Adult Average

Figure 3-1: Types of Bank Accounts Among Gen Y Adults, 2008 (percent and index of U.S. adults age 18-29)

Generation Strives for Financial Success, Freedom

Personalized Financial Services Can Build Future Loyalty

Confidence in Nation’s Economy Plunges

Table 3-1: Percentage of Adults Age 18-28 Who Are Confident or Very Confident About the Short-Term Prospects for the Economy: By Month, December 2007-June 2008

Changing Situations, Tastes, Make Cohort Segmentation Tricky

Varying Parental Roles in Bill Payment Muddy Financial Waters

Figure 3-2: Percentage of Gen Y Adults Who Pay Their Bills Themselves: Overall and by Educational/Job Training Cohort, 2008 (U.S. adults age 18-29)

Most College Consumers Still Rely On Mom and Dad

Bill-Paying Methods Vary, But Online Transactions Gain

Table 3-2: Bill Payment Methods Among Gen Y Adults: Overall and by Educational/Job Training Cohort, 2008 (percent of U.S. adults age 18-29)

“Household,” Financial Lines Tend to Blur

Table 3-3: Selected Strongly Held Attitudes About Personal Finance Among Gen Y College Students, 2008 (percent and index of U.S. adults age 18-29)

College Consumers Spending at Record Levels

On-Campus Discretionary Spending Also on the Rise

Gen Y Attitudes About Debt and Money

“Careful with Money” Not Exactly a Cohort Credo

Figure 3-3: “I’m Careful with My Money”: Gen Y Adults Overall and by Age Cohort, 2008 (percent and index of U.S. adults age 18-29)

Consumer “Empowerment” More About Attitude Than Actual Cash

Some Hard-Up Co-Eds Opt for Local Food Bank

Gen Y Goals, Perceptions Should Guide Financial Marketing Efforts

Shaky Financial Position Curbs Spending

Table 3-4: Changes in Spending Habits Over Past 6 Months Among Adults Age 18-28: January 2008 vs. June 2008 (percent)
Table 3-5: Major Purchases Planned Within Next 6 Months: Adults Overall vs. Adults Age 18-28, June 2008 (percent of adults overall and percent and index of adults age 18-28)

Na�veté, Consumerism Push Debt Levels Up

Full-Time Workers Less Financially Confident Than College Students

Figure 3-4: “I Feel Secure Financially”: Lowest Indexing Gen Y Adult Segments, 2008 (U.S. adults age 18-29)

Confidence in Ability to Save Especially Low in Certain Segments

Table 3-6: “I’m No Good at Saving Money”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Appearance of Financial Success Important to Low-Income, Non-College Segments

Table 3-7: “I Like Other People to Think I’m a Financial Success”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Educational, Consumer Loans Ramp Up Financial Burden

Figure 3-5: “I Feel Secure Financially”: Gen Y Adults Overall and by Age Cohort, 2008 (percent and index of U.S. adults age 18-29)

Living At Home May Help Build Next Generation’s Nest Egg

Table 3-8: Percentage of Annual Income Saved Over Last Year as of June 2008: Adults Overall vs. Adults Age 18-28 (index)

Personalized Service and Technology-Based Options Crucial

Technology Should Enable Personal Lifestyle Choices

Emotional Connection, Self-Discovery Underlie Successful Campaigns

Multifunctional Technologies Trigger Rewards, Customized Options, Community Solidarity

Wachovia’s Campus Card: “Your Key to Student Life”

Wachovia Remains Leery of Campus Credit Cards

U.S. Bank’s OneCard Offers Student-Centric Rewards

BofA’s “Keep the Change” Debit Card Encourages Savings

Financial Alerts a Promising Feature

Green Rewards, Social Responsibility Popular Across Card Types

edo Interactive Launches Prepaid Facecard MasterCard

Convenience, Personal Interests Drive Facecard Use

Chase Plus One: Chase + Facebook = College + Credit

Karma Points Reward Responsible Spending

High Interest Rates a Bit Offputting

PNC Bank’s Virtual Wallet: The iPod of Banking

Low Costs, Calendar, Alerts, Account Tracker Home In On Gen Y Needs

So Far No Chats, IM, Blogs, Email Support

Entry Level Investments Tend Toward Equities, Mutual Funds

Authenticity Remains a Major Challenge

Youth-Oriented Thrasher Funds Give Hip Investing a Go

But Is Thrasher Hype a Bit Too Hip?

Table 3-9: Financial Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 3-10: Financial Patterns: Gen Y Adults by Educational/Job Training Cohort, 2008 (percent of U.S. adults age 18-29)

Chapter 4: Media, Technology and Marketing

Gen Y Worldview Integrates Self, Technology, Marketing

Gen Y Use Technology, Media to Brand Themselves

Features Less Important Than Lifestyle Outcomes

Mobile, Internet, Video Enable Daily Life

Mobile Gen Y Out-Talks, Out-Downloads, Out-Plays Other Generations

Blogs, Social Networking, Video Sharing Pervade Online Activities

Gen Y Also Big on Online Shopping, Auctions, Product Research

Table 4-1: Selected Online Shopping Activities In Last 30 Days: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)

Nearly All Gen Y Adults Use Internet

College Education Not a Pre-requisite for Online Literacy

Wireless Computing, Laptops Keep Cohort Mobile

Table 4-2: Computer/Internet Use Activities: Gen Y Adults by Educational or Job Training Cohort, 2008 (percent of U.S. adults age 18-29)

Tech Marketing Requires Intimate Understanding of Gen Y Values

Social Interaction Trumps Product Specs

Nokia Mobile Taps Into Core Desires, Values

Nokia Customization Empowers Gen Y Individuality

Nokia Nseries Smartphone: It’s Not a Tool, It’s an Experience

Event Sponsorship Showcases “Young Lions’” Creativity (and the Phone)

Integrated Campaign Puts Gen Y In Control of Content

Gen Y Looks to Tech to Empower Self-Image

Quest for Personal Meaning Drives Passion for Media, Tech

Ultimate Fear May Be Not Finding Their Own Passion

Video Offers Immediacy, Emotion, Interaction

Visual Media Gaining Over Print

Video Drives Increasing Overlap Between Personal and Commercial; World of Warcraft Game Illustrates

Interactivity, Product Extensions Keep Gaming Community Connected

Majority of Gen Y Own or Play Video Games, Including Mainstream Demographics

Table 4-3: Video Game Systems Owned or Played: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)

Problematic Economy Only Increases Video Games’ Appeal

Good-Bye Old Stereotypes: Gamers More Social Than Non-Gamers

By Educational Cohort, College Consumers Most Avid Gamers

Traditional Core of Young Single Men Remain Hot for Video Games

Figure 4-1: Strongly Held Attitudes Regarding Video Gaming Among Gen Y Males, 2008 (index of U.S. adults age 18-29)
Table 4-4: “Video Games Are My Main Source of Entertainment”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Gen Y Men Likely to Prefer Gaming Over TV

Deconstructing the Video-Game-Loving Gen Y Male

Whites, Singles, Younger Cohort Often Spend More on Video Than Other Media

Figure 4-2: “I Spend More Money on Video Games Than on Music or Movies”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)
Figure 4-3: “Don’t Mind if Video Game Characters Use a Brand Name Product”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Online Video Essential in Marketing to Young Men

Online Video Appeals Across Gen Y Segments

Entertaining Embedded Ads A-OK

Table 4-5: “I Expect Advertising to Be Entertaining”: Highest Indexing Gen Y Segments, 2008 (percent and index of U.S. adults age 18-29)

Heavy Video Viewers Want to Manage, Share Content

Small Minority Dislike Advertising

Table 4-6: “I Don’t Like Advertising In General”: Selected Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Hispanics, Non-College Segments Most Ad Friendly

Table 4-7: Selected Strongly Held Attitudes About Advertising Among Gen Yers: Hispanics and Full-Time Employees with No College/Specialty Job Training, 2008 (percent and index of U.S. adults age 18-29)

Full-Time Employed No College/Vo-Tech Segment Also Show Brand Enthusiasm

TV Ads, Video Game and Movie Product Placement Garner Most Notice

Table 4-8: Selected Strongly Held Gen Y Attitudes About Product Placement: Hispanics and Full-Time Employees With No College/Specialty Job Training, 2008 (percent and index of U.S. adults age 18-29)

For Non-College Segments, Video Ads More Effective Than Print

Gen Y Parents Open to Ads That Help Pick Products for Kids

Table 4-9: Strongly Held Attitudes About Advertising: Gen Y Parents, 2008 (percent and index of U.S. adults age 18-29)

Most Marketers Still Leery of Gen Y Marketing Techniques

Social Media Provide Multi-Layered Branding Opportunities

Fine Line Between Creating Community and Intruding Into Private Communication

Let Consumers Find You, Create Online Communities in Your Space

MTV’s The Hills Site Promotes Gossip, Fashion, Games

Millennial Moms a Small But Strong Core of Social Networkers

“Mom Tribes” Share Worries, Stories, Advice Online

Suave, Sprint Partner to Create “In the MotherHood” Network

Twenty-Something Moms Span Mainstream, Niche Networks

Gen Y Control, Creativity, Community Are Your Marketing Guides

Table 4-10: Computer/Internet Use Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 4-11: Computer/Internet Use Patterns: Gen Y Adults by Educational or Job Training Cohort, 2008 (percent of U.S. adults age 18-29)
Table 4-12: Print Media Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 4-13: Print Media Patterns: Gen Y Adults by Educational or Job Training Cohort, 2008 (percent of U.S. adults age 18-29)
Table 4-14: Patterns for Television, Video Games, Cell Phones and Other Consumer Electronics: Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 4-15: Patterns for Television, Video Games, Cell Phones and Other Consumer Electronics: Gen Y Adults by Educational or Job Training Cohort, 2008 (percent of U.S. adults age 18-29)

Chapter 5: Eating In, Dining Out

Youthful Metabolisms Energize Personal, Social Goals

Long-Term Health Issues a Distant Concern

On the Run Eating Enables Busy Lifestyles

Organic, Natural, Eco-Friendly Earn Points

Gourmet Tastes a Major Draw

Table 5-1: “I Try to Eat Gourmet Food Whenever I Can”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Fun Tastes, Fun Textures Trump Health Concerns

Balanced Diet? Too Much Work

Table 5-2: “I Try to Eat Healthy Food/Balanced Diet”: Selected Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Exercise, Revving Metabolisms Compensate for Indulgence

Cooking for Fun

Figure 5-1: “I Really Enjoy Cooking”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)
Figure 5-2: Cooking for Fun as Leisure Activity: Percentage of U.S. Adults Overall vs. Gen Y Adults Overall and By Educational/Job Training Cohort, 2008

Kitchen Not Central to Existence

Figure 5-3: “Kitchen Is Most Important Room in My House”: Selected Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Dorm Living Can Pack On Pounds

Table 5-3: Strongly Held Attitudes About Food and Nutrition: Gen Y College Students, 2008 (percent and index of U.S. adults age 18-29)

The Freshman 15: A Horrifying Specter

Stress, Study, Socializing Encourage Extra Calories

Busy Lives Preclude Regular Home Cooking

Table 5-4: Selected Strongly Held Attitudes About Family/Home Life: Gen Y Singles, Marrieds and Parents, 2008 (index of U.S. adults age 18-29)

Even Organic Lovers Opt for Indulgent, On-The-Go Snacks

Mars, Venus Divided on Fast Food, Snacking, Cooking Preferences

Table 5-5: Strongly Held Attitudes About Food and Nutrition: Gen Y Males vs. Gen Y Females, 2008 (index of U.S. adults age 18-29)

Hispanic Gen Yers Strong Believers in Organic, Natural, Fresh

Table 5-6: Strongly Held Attitudes About Food and Nutrition: Hispanic Gen Y Adults, 2008 (percent and index of U.S. adults age 18-29)

Fattening Foods: No Problem

Table 5-7: “There’s Nothing Wrong with Indulging in Fattening Foods”: Selected Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Fast Food Keeps the Lifestyle Wheels Greased

Small Percentage of Hispanics Prefer Fast Food to Home Cooking

Table 5-8: “Prefer Fast Food to Home Cooking”: Gen Y Adults, 2008 (percent and index of U.S. adults age 18-29)

Hispanics, Singles, Men Most Likely to Believe Fast Food Helps Keep Them in Budget

Table 5-9: “Eating Fast Food Helps Me Stay in Budget”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

McDonald’s Brand Still Reigns Supreme

Majority of Gen Y Adults Patronize Golden Arches, At Least Occasionally

Better-For-You Menu Items Leave Gen Y Cold

White Castle Rolls Out “What You Crave”: Hip, Edgy and Digital

“Crave Call” Campaign Combines Space Age with Slang-a-Licious

In Casual Dining, Relaxed, Inexpensive Socializing Is the Goal

Gas Prices Curtail Frequency of Dining Out

Table 5-10: Percentage of Adults Age 18-28 Who Are Dining Out Less Frequently Because of Fluctuating Gas Prices: By Month, December 2007 - June 2008
Figure 5-4: Percentage of Adults Age 18-28 Who Are Dining Out Less Frequently Because of Fluctuating Gas Prices: By Gender and Marital Status, June 2008

Creative Urban Singles Find Wallet-Friendly Ways to Curb Hunger

Family Restaurants Provide Predictable, Inexpensive Options

TGI Friday’s Emphasizes Grown-Up Socializing, Rewards Cards

Even In Groceries: Make It Cool, Eco-Friendly, Multi-Culti, Authentic

Gen Y Likely to Spend $150 or More Per Week on Groceries

College Consumers Spend More Than College Grads

Premium Edibles, Especially Organics, Fill Luxury Gap

Table 5-11: “When Shopping for Food, I Look for Organic/Natural Products”: Selected Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Socially Responsible Honest Tea “Gets Real”

Spiking Gas Prices Make Continued High Spending Uncertain

Table 5-12: Percentage of Adults Age 18-28 Who Are Spending Less on Groceries Because of Fluctuating Gas Prices: By Month, December 2007 - June 2008
Figure 5-5: Reduced Spending on Groceries Because of Fluctuating Gas Prices Among Adults Age 18-28: By Gender and Marital Status, June 2008 (percent)

Cost-Cutting May Encourage More Home Cooking

Frozen Foods, Perishables, Private Label May See Spending Uptick

Novel Treats Still Lure Sophisticated Taste Buds

Figure 5-6: “I Like to Try Out New Food Products”: Highest Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Rachel’s Dairy Pushes “Wickedly Delicious” Yogurt

Line Focused on Style and Function

Probiotics, All-Natural Goodness Pass Authenticity Test

Even In Snacks, Gen Y Looks for Zing, Fun, Customization

Snap, Crackle, Sizzle, Crunch and Sip

Table 5-13: Diet and Exercise Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 5-14: Diet and Exercise Patterns: Gen Y Adults by Educational/Job Training Cohort, 2008 (percent of U.S. adults age 18-29)
Table 5-15: Food Shopping and Restaurant Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 5-16: Food Shopping and Restaurant Patterns: Gen Y Adults by Educational/Job Training Cohort, 2008 (percent of U.S. adults age 18-29)

Chapter 6: Wellness, Work and Leisure

Wellness a Given Among Gen Yers

Wellness Represents a Marketing Bonanza

Health, Wellness, Fitness Products Bring in Billions

Today’s Experiences Trump Worry About Tomorrow

Strong Undercurrent Intent on Keeping Youthful Appearance

Figure 6-1: “It Is Important to Keep Young Looking”: Gen Y Adults Overall and by Age Cohort, 2008 (percent and index of U.S. adults age 18-29)
Figure 6-2: “I Am Willing to Spend Whatever I Have To, To Look Younger”: Gen Y Adults Overall and by Age Cohort, 2008 (percent and index of U.S. adults age 18-29)

Younger Gen Y Adults Especially Keen on Skincare

Table 6-1: “I Am Willing to Spend What I Have To, To Look Younger”: Highest Indexing Gen Y Adults, 2008 (percent and index of U.S. adults age 18-29)

Youth-Extending Skincare Equates with Pampering, Luxury

Hispanic Gen Y Adults Place Premium on Youthful Appearance

Figure 6-3: Selected Strongly Held Attitudes About Youth and Beauty: Hispanic Gen Y Adults, 2008 (percent and index of U.S. adults age 18-29)
Table 6-2: “It Is Important to Keep Young Looking”: Selected Gen Y Segments, 2008 (percent and index of U.S. adults age 18-29)

Women of Color, Celebrity Role Models Connect with Authenticity, Personal Style

Garnier Trades on Sarah Jessica Parker’s Feminist Cred

Gen Y Guys Also Willing to Spend on That Youthful Glow

Figure 6-4: Strongly Held Attitudes on Youth and Beauty: Gen Y Men, 2008 (percent and index of U.S. adults age 18-29)
Table 6-3: “It Is Important to Be Attractive to the Opposite Sex: Selected High Indexing Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

Man Spas Offer High-Priced Pampering, Grooming

Skincare Feminism Ushers in Manly DIY Beauty Regimens

Male Species, Naturally Man Make Male Beauty “Natural”

Canadian 4VOO Pushes High-Performance Grooming

Wellness at Work: Nurturing the Whole Person

Work Is About Being Wooed

Challenge, Novelty, Change Inspire Young Workers

Extra Education Builds Self-Confidence, Skills

Younger Cohort Especially Open to New Challenges

Table 6-4: “I Like to Pursue Challenge, Novelty, Change”: Selected High Indexing Gen Y Segments, 2008 (percent and index of U.S. adults age 18-29)

Millennial Love of the New Extends Beyond College Types

A Desire to Be Appreciated

Recruiting Requires Authentic Investment in Gen Y Values

Travel, Volunteer Opportunities Attract Socially Conscious

Voluntourism Excites Desire for Exotic Experiences That Help Others

Ernst & Young’s Summer Internships Focus on Leadership

Mentorship, Flexibility, Company Values Can Trump High Salary

Health Insurance a Key Benefit for Young Employees

Uninsured Cluster Among Millennials with No College, No Vo-Tech

Table 6-5: Health-Related Insurance: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 6-6: Health Care Coverage by Educational/Job Training Cohort: Gen Y Adults, 2008 (percent of adults age 18-29)

Some Choose Dream Job Over Insurance Coverage

Short-Term or High-Deductible Plans Could Form Gen Y-Centric Niche

Gen Y Wellness Emphasizes Pampering Over Preventive Care

Figure 6-5: “I Have Regular Medical Check-Ups”: Gen Y Adults Overall and by Age Cohort, 2008 (percent of U.S. adults age 18-29)

Hispanics Skew Highest for Regular Medical Check-ups

Table 6-7: “I Have Regular Medical Check-Ups”: Selected Low Index Gen Y Segments (percent and index of U.S. adults age 18-29)

Regular Exercise Helps Offset Blasé Approach to Health Care

Table 6-8: Diet and Exercise Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)

College Grads Outdo Other Educational Cohorts in Sports Participation

Table 6-9: Exercise Patterns: Gen Y Adults by Educational or Job Training Cohort, 2008 (percent of U.S. adults age 18-29)

Workplace Wellness a Win-Win for Gen Yers, Employers

Table 6-10: “I Should Exercise More Than I Do”: Selected Gen Y Adult Segments, 2008 (percent and index of U.S. adults age 18-29)

“Exergaming” Offers Fun, Low-Cost Break

Guest Experts and Edgy Exercises

Subsidized Gym Memberships and Company Sports Teams

Table 6-11: Sports Participation in Last 12 Months: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)

Echo Boomers Love to Include Their Parents

Know Your Niche, Be Authentic

Shopping Patterns Favor Electronics, Apparel

Trendy, Youth-Oriented Apparel Brands Index High

Abercrombie & Fitch: Lifestyle Brand Worships Beauty

Figure 6-6: Highest Indexing Chain Stores Shopped by Gen Y Adults in Last Three Months, 2008 (index of U.S. adults age 18-29)

Victoria’s Secret “Pink” Campaign Plays Up College, Music, Green

Avid Gen Y Sports Enthusiasts Value Risk-Taking, Cool Stuff

Figure 6-7: “I Enjoy Taking Risks”: Gen Y Adults Overall and by Age Cohort, 2008 (percent and index of U.S. adults age 18-29)

Risk-Takers Mirror Segments That Seek Challenge, Novelty

Table 6-12: “I Enjoy Taking Risks”: Highest Indexing Gen Y Segments, 2008 (percent and index of U.S. adults age 18-29)

Do Risk-Takers Up-End Gen Y Reputation for Needing Structure, Guidance?

Action Sports a Major Niche, But Authenticity Stakes High

Brand-Sponsored Events, Community Crucial to Sports Marketers

Mountain Dew Hammers Action Sports Tour

Creativity Valued in Gen Y Work and Leisure Spaces

Dancing, Clubbing, Bar Scene Offer Exciting Social Outlets

Figure 6-8: “The Point of Drinking Is to Get Drunk”: Highest Indexing Gen Y Segments, 2008 (percent and index of U.S. adults age 18-29)

Taste for Exotic, Creative Runs Strong in Drink Preferences

Figure 6-9: “I Like to Try New Drinks”: Gen Y Adults Overall and by Age Cohort, 2008 (percent and index of U.S. adults age 18-29)

“Green Fairy” of Absinthe Piques Gen Y Curiosity

Belle Epoch, Myth Making and Body Paint

Table 6-13: Leisure Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 6-14: Leisure Patterns: Gen Y Adults by Educational or Job Training Cohort, 2008 (percent of U.S. adults age 18-29)
Table 6-15: Travel Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 6-16: Travel Patterns: Gen Y Adults by Educational or Job Training Cohort, 2008 (percent of U.S. adults age 18-29)
Table 6-17: Shopping Patterns: Adults Overall vs. Gen Y Adults, 2008 (percent of U.S. adults overall and percent and index of adults age 18-29)
Table 6-18: Shopping Patterns: Gen Y Adults by Educational or Job Training Cohort, 2008 (percent of U.S. adults age 18-29)

Abstract

Despite their shaky finances and breezy approach to workplace demands, the cohort’s strong affinity for personal fame and wealth are likely to translate into serious financial clout over time, to the tune of some $3.5 trillion by middle age. A penchant for instant gratification and customizable products, along with demand for socially responsible corporate policies and a wariness of inauthentic advertising, means that marketers must launch ever more creative, multilayered and inclusive campaigns to reach their target Gen Y segment—a daunting task considering the constant trade-offs between Gen Y adults’ frequent homogeneity in mindset and wild diversity in individual preferences.

Drawing on uniquely cross-tabulated Simmons Market Research Bureau winter 2008 survey data, BIGresearch’s monthly Consumer Intentions & Actions surveys, and government and private sector data sources, this report examines common attitudes and motivations among the Gen Y adult cohort, particularly their tendency to trust friends and celebrity endorsements in their purchasing choices, their insistence on influencing product offerings and advertising, and an accompanying blurring in their analytical boundaries between “retail” and “real life.” The report gives special attention to green and other social concerns within the cohort and their use of a wide range of social networking media to pursue their goals.

An overview of Gen Y adult attitudes and spending trends introduces five lifestyle chapters:

Demographics: Millennials are very ethnically and culturally diverse, with a multicultural outlook and a left-leaning political orientation. The younger cohort, age 18-24, account for 59% and Hispanics a powerful 22% of the adult Echo Boom.
Finances: Gen Y’s love-hate relationship with credit cards, education expenses and high APRs, combined with a desire for luxury products and a seeming inability to save money, means they tend to be cash-crunched.
Technology, Media and Marketing: Media saturated and digitally dependent for their sense of self, Millennials experience media, technology, socialization, advertising, community and personal consciousness as almost seamlessly integrated.
Eating In, Dining Out: With a developing preference for organic, functional and sustainably farmed produce, Gen Y adults embrace healthy, well-balanced meals as long as they come in snazzy recyclable containers, don’t require cooking and don’t interfere with snacking.
Wellness, Work and Leisure: Not so much about anti-aging and physical fitness, Gen Y wellness means that leisure and work should be personally fulfilling; that community and environmental health are a team effort, preferably supported by one’s employer; and that relationships are the key to personal well-being.

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The Adults of Generation Y in the U.S.: Hitting the Demographic, Lifestyle and Marketing Mark

Table of Contents

Abstract