Monthly Archives

November 2017

Discussion of Beauty Products on Social Media

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Crimson Hexagon conducted a social media analysis of trends in the consumer packaged goods (CPG) industry. They examined the frequency and nature of cosmetic and beauty product discussion on social media platforms. There were 1.5 million total posts.

One of the most common themes across these conversations was the discussion of natural ingredients and eco-friendliness. There were approximately 40,000 posts about natural products. The discussions were largely centered around the use of more natural and gentler products in everyday makeup routines. Another central area of discussion within natural ingredients and eco-friendliness was cruelty-free products. Approximately 50 percent of the overall conversation related to cruelty-free products. Another 20 percent of the conversation related to vegan and eco-friendly/sustainable cosmetics.

The researchers also examined sentiment and emotion in discussion of natural ingredients and eco-friendly topics. The most positive emotion, joy, was a common emotion amongst the following types of discussion: vegan (52 percent), organic (50 percent), gluten-free (49 percent), and eco-friendly, sustainable (48 percent). Disgust (44 percent) and sadness (17 percent) were key emotions in cruelty-free discussions.

Age appears to impact discussion of cosmetics. When it comes to cruelty-free discussion, those age 17 and younger were more engaged (39 percent) than those 18-24 (37 percent), 25-34 (7 percent), and 35+ (17 percent). When it comes to vegan discussion, 35+ individuals (36 percent) were more active than those 17 and younger (25 percent), 18-24 (29 percent), and 25-34 (10 percent).

Not all product types and brands were mentioned in the cruelty-free discussions. The makeup product types that were most frequently discussed were: lipstick (31 percent), foundation (22 percent), and mascara (17 percent). The top mentioned brands associated with no animal testing were: Urban Decay (14 percent), Tarte (14 percent), Anastasia (12 percent), Kat Von D (12 percent), and Smashbox (12 percent).

Gen Z Financially Savvy

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Research from Raddon as reported in BusinessWire examined financial behaviors and preferences of Generation Z. The researchers surveyed 2,500 high school students ages 16-18.

The researched revealed that Gen Z individuals are very eager for financial education. In fact, they have done more to further their knowledge of financial matters than preceding generations. Over half (56 percent) of Gen Zers believe programs or seminars from financial institutions are very or extremely important sources of personal finance information. Over a third (35 percent) have attended a financial education program or seminar. In comparison, only 12 percent of Millennials, 11 percent of Gen Xers, and 16 percent of Baby Boomers and Traditionalists (combined) have done so.

The research revealed that Gen Zers are not financial newbies. Approximately 67 percent of Gen Z respondents said they have an account at a financial institution either on their own or with their parents. Another 4 percent had an account in the past.

The research revealed that three distinct segments of Gen Z exists:

  1. Conventionals – Just over a third of this generation are conventionals. Conventionals have a preference for banking like their grandparents. They prefer interacting face-to-face at banks. They are skeptical of technology entering the banking industry.
  2. Digitals – Over a third (37 percent) of Gen Zers are digitals. These individuals bank through digital or electronic channels, such as mobile banking. However, they still believe they will have to rely on traditional providers in the future.
  3. Pioneers – Approximately one third (28 percent) are pioneers. They want to bank in a way that is most convenient for them. They fully embrace technology for banking and feel that in the future, all of their needs will be met digitally.

Gen Z, Millennials and their Phones

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Research by LivePerson examined the personal digital behaviors and habits, preferences, views on smartphones, and digital etiquette of young consumers. The researchers surveyed 4,013 18- to 34-year olds across the US, UK, France, Germany, Japan, and Australia. Gen Z was defined as those aged 18-24 and Millennials were defined as those aged 25-34. For comparison, the researchers also surveyed 1,016 individuals age 35 or older.

The research revealed several findings:

  1. The phone is not just a phone; it is an extension of the self. Nearly two thirds of the younger consumers said they bring their phones with them when they use the bathroom. Nearly half said they regularly text when walking in crowds. In addition, over 70 percent said they sleep with their phones within reach. Half of the 18-34 year olds said they automatically pick up their phones if they are awakened during the night.
  2. The phone is the new wallet. Respondents were asked of their phone or wallet, which would they never leave the house without. Amongst the younger consumers, 62 percent said they would rather leave their wallet at home than their phone. Among the older cohort, 72 percent said they would rather leave their phone and take their wallet.
  3. Preference for “digital only.” Seven out of 10 individuals in the 18-34 age group said they could imagine a world where all purchases are made online without any brick and mortar stores. In addition, 20 percent of these young consumers said they would actually prefer to do all their shopping digitally without ever speaking with a real person.
  4. Phones are more valuable than money. Younger generations are not willing to part with their phones. Millennials and Gen Z respondents said it would take more than a million dollars to convince them to give up their smartphones. Just over 43 percent said it would take at least five million.