Monthly Archives

November 2015

A Millennial Walks Into an Organic Bar…

By | Acumen Insights

Understanding Millennials’ spending habits can be tricky; that’s why MONEY rounded up a list of the ten things Millennials buy more often, sometimes a lot more often, than Gen X or Baby Boomers. One category where Millennials are more likely to spend money than older generations was organic foods. While 45 percent of Americans in general actively seek out organic foods, 53 percent of those 18-29 years old actively search for organic products.

Craft alcohol is another of the top ten items for Millennials and they are more willing to spend money on it than other generations. Millennials seem to care more in general about liquor brands. One survey found 64 percent of Millennials saying the brand of spirit in a menu cocktail description was important or very important; the number was 55 percent for Gen X and 50 percent of Baby Boomers.

Millennials Use Mobile to Get Cookin’

By | Acumen Insights

Think With Google says 59 percent of 25-34 year olds cook with either their smartphones or tablets on hand, whereas people over 35 are more likely to print out a recipe. Once the evening’s menu is set, Millennials use their devices to look for help. Questions like “What temperature to bake chicken?” are increasingly asked from mobile devices and 68 percent of millennial moms said they watch cooking videos while preparing food. And if hands are occupied, voice search becomes indispensable with 23 percent of adults using it while cooking. Yet Millennials aren’t necessarily cooking alone; 27 percent said they were likely to be sharing the experience with a spouse, friend, or child.This means Millennials see cooking as an opportunity to spend quality time with family and friends, not as a chore.

Millennials also have subscribed en masse to food channels on YouTube, and 75 percent of the growth in viewership is coming from mobile devices.

OTT More Popular in Households With Kids

By | Acumen Insights

The Ownership and Trend Report from GfK reveals households with children (ages 17 and under) present are much more likely to stream content on a TV screen using an internet-connected device, also known as “over-the-top” (OTT); OTT devices include internet-connected TV, internet connected Blu-ray player, internet-connected game console and dedicated OTT devices.  More than half of households with kids (54 percent) watch via OTT compared to 34 percent for households without kids.

The research found one in three homes subscribed to services that stream TV and movies, and 20 percent of households do not pay for traditional TV. Additionally, streaming video is now the third most common online activity, behind social networking and shopping. This means that streaming is now reported to be a more popular online activity than listening to music, instant messaging, and gaming.

Teens Favor Instagram for Daily Use

By | Acumen Insights

YPulse explored which social networks 13-32 year olds engage with on a daily basis and found Facebook still dominates at 51 percent. Instagram is gaining with 30 percent saying they engage with the platform every day compared to 22 percent for Twitter, 23 percent for Snapchat, and 2 percent for Vine.

Yet the daily use ranking takes on a slightly different picture when comparing the use of teens and older Millennials. More 13-17 year olds say they use Instagram (39 percent) and Snapchat (34 percent) each day than use Facebook (28 percent). Among persons 18-32 years old, 57 percent use Facebook daily and just 26 percent use Instagram daily. Teens also use YouTube on a daily basis at twice the rate of older Millennials (24 percent vs. 13 percent).

I Stream, You Stream, Kids Stream TV

By | Acumen Insights

A study from PwC examined media content and found “streaming TV” was most popular, with 53 percent of kids ages 8-18 choosing it as their favorite type of content. Streaming TV included subscriptions such as Netflix and using TV Everywhere with a cable/satellite subscription. The second most favored content was “Drama or Reality Shows on Cable Channels” at 47 percent; Games, Short Videos, Network TV Shows and Movies tied for third as the most popular types of content.

The study found kids and teens most often learn about new programming through commercials (33 percent); nonetheless recommendations from family or friends either directly (23 percent) or through social media (18 percent) if combined would actually be tops. Most kids and teens (82 percent) believed they influence their parents about content viewed in the home, 24 percent admitted their parents make the actual decisions. Twenty-three percent said they get to make the decision, and 7 percent said, “We compromise.”

Millennials “High Volume Sensitive” to Brand Emails

By | Acumen Insights

Insights from a study by the Aimia Institute show Millennials are 44 percent more likely to permanently disengage with brands if they receive high volumes of mass generic emails. They call these consumers “High Volume Sensitive.”  The findings show 59 percent of High Volume Sensitive consumers are overwhelmed by the volume of email communications they receive from brands. The results are similar for SMS messages (60 percent) and push notifications (62 percent).

High Volume Sensitive consumers are choosy about how they interact with brands, and will only engage if the content they receive by email is tailored to them. If the information is not personalized or too frequent, they find ways to disengage with a brand. Eighty percent will block numbers, 84 percent will close accounts and unsubscribe from email lists, 82 percent will delete apps, and 86 percent will unfollow brands on social channels. Aimia said a defining feature of High Volume Sensitive consumers is they are equally willing as others to share their personal data. However, they are 2.3 times more likely to disengage when bombarded with large numbers of irrelevant messages.

Millennials Spend Only 18 Percent of Time on Live TV

By | Acumen Insights

A study by SmithGeiger LLC and Net2TV Corp shows media consumers are now watching an astounding 8.25 hours of video every day. But the viewing is increasingly fragmented, with consumers spending more time watching streaming videos and programs on digital devices and less watching traditional TV.

Leading this shift are 18-34 year old Millennials, spending only 18 percent of their video-viewing time watching traditional broadcast and cable TV. Fully 61 percent of their overall viewing time is being done on digital devices (e.g. PCs, tablets, phones). For older adults, ages 35 to 44, real-time viewing of broadcast or cable TV is only slightly larger accounting for 27 percent of their total video viewing time.

The survey results indicate long-form programming maintains its popularity, but is increasingly shifting to non-live platforms. Media consumers are routinely watching content as long as 30 minutes on smartphones and tablets, and for longer than an hour on tablets and connected TVs. For 18-34 year olds, watching shows on video focused sites such as YouTube, Vice or Popcorn and binge watching multiple episodes of a show were most popular for video viewing.

Millennials Value College Education Despite High Price

By | Acumen Insights

Millennials (born 1981 to 2004) are spending more for college than did Gen X (those born 1964 to 1980), but a survey from Credit Sesame shows they have a more positive opinion of higher education. Millennials recognize the tremendous value of a four-year degree in the workforce today and are paying closer attention to what they study. More than twice as many Millennials said salary was an important factor in selecting a major (33 percent vs. 14 percent for Gen X) and, when asked if college is worth the price, 76 percent of Millennials said yes whereas only 68 percent of Gen X agreed.

Few Millennials Receive Financial Support from Parents

By | Acumen Insights

Zillow analyzed data from Federal Reserve Board for young adults (ages 23 to 34) who are lucky enough to have their parents help them financially with both higher education and a down payment to buy a home.  Zillow estimated the extent of this privileged population by starting with the 46 percent who had completed some form of post-secondary education – anything from an associate’s degree to a doctorate or professional degree. Within this group, 61 percent (or 28 percent of all young adults) received financial assistance from their parent(s), including cases where the parent(s) took out a loan to cover the child’s educational costs.

Among those who received financial support from their parents for post-secondary education 43 percent are homeowners. Of this 43 percent, 25 percent received family support in funding their down payment. Thus, in total, only a mere three percent of all young adults received parental support for both education and buying a home.

Can’t Imagine Life Without Smartphones

By | Acumen Insights

Smartphones have existed as a mass-market product for less than a decade, but a survey by Gallup shows already 46 percent of American smartphone users agree with the statement “I can’t imagine my life without my smartphone.” Attachment is significantly higher among women (51 percent) than men (41 percent). At all age levels women are more likely than men to say they can’t imagine life without their phone, with women under 30 years old the most likely to feel this way (58 percent) and men 65 and older the least likely (35 percent).

For many users, heavy reliance on smartphones means that being separated from the device can be stressful. Young women express the greatest anxiety over being without their smartphones for a day, with 58 percent under 30 saying this would make them very or somewhat anxious compared to 51 percent of women 30 to 49 years old and less than 40 percent for women 50 years and older.