Archive for the ‘Market Research’ category

Younger Women Move to Social Media

November 11, 2009
Beautiful woman smiling as she is wine tasting on a summer day.November 11, 2009
Social Influence on Gen Y Trendsetter

Generation Y females have refined the idea of “peer group” to encompass online friends, bloggers and anonymous reviewers, according to the “Why Y Women?” report from PopSugar and Radar Research.

Looking to this expansive group of peers, rather than experts or celebrities, Gen Y women are particularly influenced by social media.

Beautiful woman smiling as she is wine tasting on a summer day.

Women Move to Social Media

Younger women are nearly twice as likely as their Gen X counterparts to say they had discovered a new brand or product when a friend mentioned it in an online status update. They are also significantly more influenced by blogs, by both professionals and especially by “someone like me.”

Telling friends in person or on the phone is still by far the most common way for Gen Y women to spread the word about products or brands they love. But they post about products and brands on social networking sites or online forums nearly twice as much as older women. Gen X women, on the other hand, are more likely than younger females to share information via e-mail.

Further, with even two-thirds of Gen X women considering their younger counterparts trendsetters, according to the survey, the potential pop culture influence of social marketing is multiplied.

Mr Youth, which has studied “millennial moms”—mothers around the same age as PopSugar’s Gen Y women—has also found the peer group an important influencer.

“With moms it is even a stronger source, as moms have always found it important to ask other moms before making important decisions that affect their families and kids,” Brandon Evans, managing partner and chief strategy officer at Mr Youth, told Media Life magazine. “With social media, it became much easier for them to seek out advice on a variety of topics from a wider net of people, so it quickly gained in influence.”

Printed from emarketer newsletter with permission of emarketer.com.

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Ageing Consumers Key to the Future

September 26, 2009

LONDON: An ageing population and an increasingly inter-connected world are two of the main factors companies will have to consider when making their long-term plans, according to the speakers at an event looking at the key developments which will shape societies over the next few decades.

Hosted by Intelligence Squared, the event – covered in more detail here – featured speakers from the James Martin 21st Century School, a “unique collaborative research effort with the goal of formulating new concepts, policies and technologies that will make the future a better place to be”. 

Dr Ian Goldin, the school’s director, said we are now living in what could be a “golden age” of possibility, although while there is much “potential”, the choices that are made every day will shape what life will look like in 2050.

More specifically, he suggested the internet is an example of the inter-connected nature of the modern world, but the movement towards true globalisation could also have negative consequences, such as an increase in the number of pandemics.

Professor Sarah Harper predicted that the advances in medical science could lead to an average life expectancy of over 120 years old in many countries in 40 years time.

Indeed, Japan already has over 40,000 people over 100 years of age, and this development, combined with falling birth rates, will have profound implications for brands, governments, and societies.

From a purely commercial perspective, it was argued the ageing population is badly served by manufacturers at present, and this must change when almost a third of the population is made up of consumers over the age of 50.

The dangers of climate change also mean there will be a need for new green technology to transform the automotive and energy sectors, and this is an area which will receive a heightened emphasis in both the short and long term.

Printed with permission of World Advertising Research Centere. Data sourced from WARC Sept. 24, 2009

Pew Research: Labor Force Trends: Older Workers Increase, Younger Workers Decrease

September 12, 2009

By  John Rileysun with chart

As the U.S. labor force grows between 2006 and 2016, 93% of that growth (11.9 million) will be from workers ages 55 and older says one government estimate.  This is attributed to many gray and aging Americans who are healthy and active. They want to be productive and feel useful well into their later years.

 Younger Americans,  between the ages of 16 and 24, are a declining share of the labor force with 57%  today versus 66% in 2000.  However, a rising share of this age group are in school.

 There are  two factors that help explain these changes.  First, is a belief in the need for a college education  to be successful.  Nearly 75% of the public feels this way now versus 49% in 1978.

 Second, is the impact of the recession on young people. Many are believed to have dropped out of the job market.

 This, and other findings about America’s changing  work force, come from a new national survey, Pew Research Center’s Social and Demographic Trends project.

 Other results:

—  the number of women who have a job or are seeking one is no longer growing, but holding at 59%.

 That’s a change after five decades of growth.   Men rank about 13% higher.

—  most working mothers and only 19% of men prefer part time jobs.

 Pew based its findings on data obtained from the Census Bureau  and the Bureau of Labor Statistics.

Demographics A Threat to Marketers

August 24, 2009

By John Riley

Rapidly changing market conditions are nothing new to marketers, but now they are faced with a more ominous challenge: a long term shift in demographics.  The consequences between now and 2020 are that the United States will experience very minor growth in per household spending and after that spending on consumer products is expected to fall through 2050.

 This is the conclusion of the Nielsen Company in a report prepared under the direction of Doug Anderson, Senior Vice President, Research and Development.

 According to Mr. Anderson, “an aging population, a declining birth rate, and growing ethnic diversity will change the face and the spending behavior of consumers. Gaining share among population groups that most marketers do not reach today, older and ethnic consumers, will require shifts in focus, tactics and products.”

 He points out that since the 1970’s birth rates in the United States have been at least 40% lower than at the heights of the baby boom.  When a falling birth rate is combined with a very large generation like the Baby Boom, the effect is a gradual aging of the population. The number of persons who reach retirement age of 66 will increase by over 100,000 each year throughout the Baby Boom retirement years to 2030.

 “Aging populations place stress on an economy in two ways”, Mr. Anderson says.  “First, if the generation is sufficiently large, retirement can lower the size of the labor force lowering overall productivity.  Second, is the cost of caring for a large number of retirees.  Medicare and Medicaid will deplete their trust funds in about ten years and will be the largest component of all U. S. government spending by 2030. Additionally, many privately funded pension plans are underfunded.”

 The report goes on to point out that as the Baby Boomers continue to age, and birth rates remain low, household sizes will decrease. Many aging Boomers will live alone or with one other person while the number of children per family will get smaller. When the most economically disadvantaged market segments are included, pressures on per capital spending will be like nothing the U.S. has experienced in modern times.

 Bottom line for marketers: growth will only come from increasing share against completion.

 The opportunity:  by 2025, over half of all families with children will be multi-cultural, but Marketers who can navigate diverse cultures, tastes and languages will succeed.