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Acumen Insights

Younger Adults More Likely to Share Streaming Accounts

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Morning Consult conducted a survey of 2,200 adults on subscriptions and streaming services like Netflix and Hulu. The results revealed that contrary to popular belief, most people (63 percent) do not share their streaming accounts. However, people that do are most likely to be young. Over half (56 percent) of 18- to 29-year-olds said they share their passwords.

Netflix was the most popular streaming service. Of the 37 percent of adults that said they share at least one account, the vast majority (85 percent) said they shared their Netflix password. The second most popular account in terms of sharing was Amazon Prime video; 40 percent of respondents said they shared this account. YouTube TV was the third most popular account to share; 21 percent said they shared the login credentials to this account.

Respondents were asked if they would pay to stream if sharing was off the table. Fifty-eight percent of people who said they share an account said they would subscribe to the service on their own if they were unable to access it through sharing. There was variation by age group. Individuals ages 30-44 were more likely to say they would pay (67 percent). Individuals aged 55-64 were the second most likely to say they would pay (59 percent). In addition, 54 percent of individuals 18-29, 52 percent of individuals 45-54, and 50 percent of individuals 65+ said they would pay.

Respondents were also asked about piracy. The results revealed that 89 percent of those surveyed said that they do not pirate movies, TV shows, or music. Forty-six percent said they considered it to be theft, whereas 35 percent did not. Younger individuals were less likely to view piracy as theft. Of individuals 19-29, 34 percent said they did see pirating media content as left, while 44 percent said they do not consider it to be theft.

Finally, respondents were asked about watching pirated content. Forty-three percent of all respondents said they would be uncomfortable watching pirated content. A quarter (25 percent) said they would be comfortable. Just over half (52 percent) of respondents said even if they had access to a leaked show or movie, they would wait until it was released to see it.

Understanding Teen Smartphone Habits

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Various surveys, as reported in eMarketer, have examined the use of smartphones by teen internet users. Research by eMarketer found that 79 percent of 12- to 17-year-olds used smartphones.  This is close to the adult population of 77 percent of smartphone users. If not considering 12-year-olds, the number increases. Research by NORC Center of Public Affairs Research found that 89 percent of 13- to 17-year-olds reported being smartphone users.

A survey by YouGov asked teens about the length of time they could go without their smartphones. Thirty-eight percent of all respondents said they could not go without their smartphones for less than a day. Fifteen percent said they could go a day without. Eleven percent said they could go one to three days. Seven percent of the teens said they could go three to seven days.

The results do seem to vary by gender. When looking only at females, 43 percent said they could go less than a day without their smartphone. Fifteen percent said they could go a day. Eight percent said they could go one to three days. And finally, four percent of teen girls said they could go three to seven days without their smartphones.

A different pattern arises from males. A little over a third (33 percent) said they could go without their smartphones for less than a day. Fourteen percent said they could go a day without. Eleven percent said one to three days. And finally, 9 percent of male teens said they could go three to seven days without their smartphones.

Teens on YouTube Complain About Too Many Ads

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A survey by Forrester Research, as reported by eMarketer, examined teen social media use and perceptions of ads.  Teens ages 12 to 17 were asked which social media platform they felt had too many ads. Approximately 39 percent of respondents said YouTube. Twenty-six percent said Facebook. And 11 percent of respondents said that Instagram and Snapchat complained about excessive ads.

However, interesting, these teens were not deterred from using the platform. When asked about their social media platform use, 77 percent of teens reported using YouTube daily. The second most popular social media platform used was Facebook; 55 percent of respondents reported using it daily. Just over half of the teens surveyed reported using Instagram (52 percent) and Snapchat (51 percent). Twitter and Pinterest were the least popular platforms. A little over a third (34 percent) reported using Twitter daily. Only 19 percent of teens reported using Pinterest daily.

The type of ad being presented may impact perceptions of how plentiful those ads might be. Previous research has found that pre-roll ads, the most common type of ad on YouTube—were the least interruptive for Internet users of all ages. This study found support for this. The teens were asked to watch 15-second ads on their smartphones and desktop/laptop computers. Only 17 percent thought these ads were interruptive.

Millennial Spending Habits

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Bank of America conducted a survey of 1,500 respondents ages 18-71. The researchers were particularly interested in the financial habits of Millennials (ages 23-37). The researchers found that despite the stereotypes, Millennials have money habits that are just as good or better than older generations. Sixty-three percent of Millennials reported saving—roughly the same amount as Gen X (64 percent). An equal number of Millennials and Gen X’ers reported budgeting (54 percent) and having a savings goal (42 percent). Surprisingly, more Millennials (59 percent) reported feeling financially secure than Gen X’ers (54 percent).

Millennials are saving large amounts of money and are sticking to their goals. Forty-seven percent of Millennials said they have $15,000 or more in savings. Sixteen percent of Millennials reported having $100,000 or more in savings. In addition, 67 percent of Millennials who have a savings goals reported sticking to it every month or most months. Further, 73 percent of Millennials who have a budget, reported sticking to it every month or most months. The top priorities for Millennials when it comes to saving include: emergency fund (64 percent), retirement (49 percent), and funds to purchase a house (33 percent).

Although Millennials are doing as financially well as other generations, like Gen X, they believe the negative stereotypes and do not give themselves enough credit. Seventy-three percent of Millennials said their generation overspends on unnecessary indulgences. Sixty-four percent said their generation is not good at managing money. Further, 75 percent said their generation overspends compared to other generations.

Gen Z and Millennials in the Workplace

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Adecco conducted a survey of 1,001 U.S. students that are currently in college or recently graduated and within the ages of 18-24. The students were asked about their concerns for the future. The biggest concern for respondents was the ability to find a job, reported by over a third of respondents (32 percent). The second largest concern was the cost of education such as tuition, student loans, etc. (16 percent). Thirteen percent of respondents said that personal and financial health (credit cards, living expenses, etc.) and affording their own place to live after graduation were concerns. Other key concerns of the respondents included: applying to graduate school (8 percent), graduating college (7 percent), the economy (6 percent) and having to move back in with my parents after graduation (3 percent). Interestingly, Gen Z respondents (21 percent) reported being more concerned about the cost of education than Millennials (13 percent).

The respondents were also asked about their aspirations after college. Overall, most students reported that their greatest aspiration is to be financially stable (31 percent) followed by being in their dream job (28 percent). Ten percent of respondents said their aspirations after college were additional education such as graduate school and getting married. Other aspirations mentioned include: paying off student loans (8 percent), traveling (6 percent), starting a family (4 percent), making a sizable investment or purchase such as a home (2 percent), and becoming a business owner (2 percent). For Gen Z (32 percent), wanting to find their dream job was their most important aspiration, whereas for Millennials (34 percent), it was financial stability.

Respondents were further asked about what they want from their first job. The most common want was opportunity growth, reported by 36 percent of respondents, followed by fulfilling work (19 percent) and stability (19 percent). Ten percent reported wanting a friendly work environment while 7 percent reported wanting a flexible work schedule. Only 6 percent said they wanted the highest salary. Although opportunity for growth was the number one want for both generations, it was more important for Millennials (41 percent) than Gen Z (30 percent).

Consumer Hyper-Relevance and Trust

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Research from Accenture Strategy as reported in AdWeek surveyed 24,877 people across 33 countries to determine how much personal information they would provide to companies to deliver a personalized brand experience. Differences between global consumers and U.S. consumers were examined.

The research revealed that both global consumers and U.S. consumers desire hyper-relevance, with global consumers valuing it slightly more. Approximately 48 percent of global consumers said they are frustrated when companies fail to deliver relevant, personalized experiences. Forty-four percent of U.S. consumers reported the same. In addition, 43 percent of U.S. consumers and 44 percent of global consumers said they were more likely to buy from companies that personalize experiences. Further, 31 percent of U.S. consumers and 34 percent of global consumers said they find value in services that learn their needs for personalization.

In terms of devices that offer personalization, global consumers appear more open to using them than U.S. consumers. Sixty-five percent of global consumers said they would use smart reordering services via in-home sensors, whereas 48 percent of U.S. consumers said the same. Forty-three percent of global consumers reported using digital assistants; 36 percent of U.S. consumers reported using such devices.

In terms of privacy and security, U.S. consumers are generally more concerned than global ones. Seventy-nine percent of U.S. consumers reported being frustrated that some companies cannot be trusted; seventy-three percent of global consumers reported feeling this way. More U.S. consumers said they believe it is extremely important for companies to safeguard their information, 92 percent versus 87 percent of global consumers. In addition, U.S. consumers (66 percent) were more likely than global consumers (58 percent) to report wanting companies to earn their trust by being more transparent about how their information is used. Both types of consumers (43 percent of each) said they fear intelligent services will learn too much about them and their family.

Global Centennials and Consumer Behavior

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Centennials have already eclipsed Millennials as the global cohort influencing trends and driving industries. Research by Kantar Futures examined the consumer behavior of Centennials. Centennials make up 35 percent of the total global population. The highest concentrations of Centennials are in: Africa, the Middle East, South East Asia, and Latin America.

Despite being young, many Centennials spend their own money. Most spend their own money on clothes and shoes—55 percent of the survey respondents reported doing so. Fifty-two percent of Centennials reported spending their own money on books/music (physical copies) and apps. The third most popular category that Centennials spent on was toys and games, reported by half (50 percent) of respondents. Just under half (48 percent) reported spending on events and outings. Other categories in which Centennials reported spending their own money include: personal care (43 percent), electronic goods (42 percent), eating out (42 percent), digital streaming (37 percent) and sports equipment (31 percent).

Centennials also have great influence when it comes to their family’s spending. The category in which they have the most influence was food and beverages, reported by 77 percent of respondents. The second most popular category in which they have influence was furniture, which 76 percent of Centennials reported. Seventy-three percent said that they heavily influence their family’s spending on household goods, while 66 percent said they influenced their family’s spending on travel. Further, 63 percent of Centennials said they had influence on their family’s spending on eating out. Other key categories in which they expressed having influence include: electronic goods (61 percent), clothes and shoes (60 percent), personal care (55 percent), event and outings (48 percent), and sports equipment (47 percent).

Affluent Consumers’ Engagement with Brands

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Global Web Index conducted research on the brand engagement habits of affluent consumers. The sample comprised of 126 affluent male and female consumers. Respondents were between the ages of 16 and 64.

The research revealed that affluent consumers are a highly engaged group. Respondents were asked if they have done various brand interaction actions in the past month. Approximately 15 percent of affluent consumers said they had provided ideas for a new product/design. Another 15 percent said they interacted with a brand on a messaging app. Seventeen percent of the respondents reported using a company’s live-chat service on a website.  Further, 15 percent said they used a QR code provided by a company or brand. And finally, 17 percent of affluent consumers shared a brand’s post on a social network.

The research also revealed that affluent consumers had high levels of brand advocacy. Respondents were then asked about the reasons they would promote a brand. The most popular reason for promoting a brand was receiving great customer service, reported by 37 percent of affluent consumers. The second most popular reason was having insider knowledge about the brand or its products, reported by 23 percent of respondents. Twenty-two percent of respondents said they engage in brand advocacy when they have a personal/one-on-one relationship with a brand. Further, 20 percent said they serve as brand advocates when they have access to exclusive content or services (e.g., music, videos, etc.). And finally, 16 percent of affluent consumers said they promote brands when something enhances their online reputation/status.

Generation Z and Music Sales Decline

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A report by Nielsen Soundscan revealed that Generation Z individuals are not buying music like other generations are. Instead, they are turning to YouTube. Most of these individuals said that YouTube was the “coolest” place to get music. The respondents were asked to rate various music listening methods on how “cool” they are. Approximately 75 percent said that listening to music on YouTube was either “very cool” or “totally way cool.” Only 7 percent said that listening on YouTube was “totally un-cool” or “not cool”. In addition, only 3 percent reported not knowing what YouTube was.

Downloading music was the second most “cool” method of listening. Seventy-two percent of Gen Z’ers said that downloading was “very cool” or “totally way cool.” Nine percent said it was “totally un-cool” or “not cool.” And again, 3 percent reported not knowing about downloading music.

Pandora was the third most “cool” method of listening to music. Approximately 66 percent of respondents said Pandora was “very cool” or “totally way cool.” Twelve percent reported that the service was “totally un-cool” or “not cool.” An equal percentage of respondents (12 percent) said that they did not know what Pandora was.

The two methods of music listening that were the least “cool” were streaming music online and listening to AM/FM radio. Fifty-nine percent of Gen Z’ers said that streaming music online was “very cool” or “totally way cool.” However, 17 percent said that it was “totally un-cool” or “not cool.” In addition, 13 percent of Gen Z’ers reported not knowing about streaming music online. When it comes to AM/FM radio, 55 percent said that it was “very cool” or “totally way cool.” However, 18 percent said that it was “totally un-cool” or “not cool.” Eight percent of respondents said they did not know what AM/FM radio was.

How Millennials Want to Work

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Gallup conducted research on how Millennials compare to other generations in the workplace. The researchers found that Millennials are the least engaged in the workplace. Only 29 percent said that they were engaged. Gen Xers (32 percent) and Baby Boomers (33 percent) were slightly more engaged. Traditionalists were the most engaged (45 percent). Approximately 55 percent of Millennials reported not being engaged while 16 percent said they were actively disengaged.

Millennials are very open to new employment opportunities—even more so than their other generational counterparts. Approximately 60 percent said that they are receptive to new jobs. Twenty one percent reported changing jobs within the last year. Thirty-six percent of Millennials said they will look for another job with a different organization in the next 12 months if the job market improves, compared to only 21 percent of non-Millennials who said the same. Half of the Millennials, compared to 69 percent of non-Millennials agreed that they plan to be working at their company one year from now.

Although Millennials are the least likely to be engaged, they are the most likely to be engaged in the manager/employee relationship. Millennials tend to meet with their managers more than non-millennials. Twenty-one percent of Millennials reported meeting with their manager on a weekly basis. Eighteen percent of non-Millennials reported doing so. Millennials are more engaged when their managers provide frequent and consistent communication and feedback. Forty-four percent of Millennials who report that their manager holds regular meetings with them said they are engaged. This contrasts with Millennials who do not meet regularly with managers; only 20 percent reported being engaged.