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This MarketLooks has been compiled from the following report:
"The Young Adult Market: Generation X Grows Up"
Abstract from full report:
This completely new Packaged Facts report analyzes the consumer behavior and purchasing power of the 37 million young adults in the 25- to 34-year-old age group, most of whom are members of Generation X. The report begins with a comprehensive overview of the key demographic features of this influential consumer group, such as employment and income patterns and family structure, and then offers an assessment of the size and growth of the young adult market. The report continues with a profile of the consumer behavior of 25- to 34-year-olds, including their shopping behavior, expenditure patterns, and then provides an in-depth analysis of their online shopping and buying patterns. Following a review of the media targeting young adults—including television, radio, print, and Internet—marketing and advertising strategies used in the young adult market are assessed. The report concludes with a series of case studies of companies active in the 25- to 34-year-old market. Appendices include information about resources available to companies interested in the young adult market and examples of advertisements targeting the market.
Growing up in the 1970s and 1980s, members of Generation X were the first to be deeply affected by divorce, and they saw their families encounter several periods of economic turmoil. As a result, researchers studying the members of Generation X during their earlier years often found a relatively pessimistic and cautious group of consumers.
Now, however, members of Generation X have become young adults who are driving the new hi-tech economy, forming families, and becoming an increasingly positive economic force. The 37 million 25- to 34-year-olds have an aggregate income that exceeds $1.1 trillion, and they have a substantial influence on a wide variety of sectors. For example, research shows that the rate of homeownership in this age group is higher than that of the Baby Boom generation at an equivalent age. As a result, Generation X consumers are having a major impact on the furniture, housewares, and home improvement industry.
Learn about why young adults are turning to traditional values and family life and how this trend affects marketing strategies. Find out what makes 25- to 34-year-old consumers different from younger adults and older Boomers—and understand what they share in common. Discover how Generation X influences the purchasing decisions of family members and friends. Explore the online shopping behavior of this technology-savvy generation.