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Main Government and Public Sector Social Studies Spending Power of Young Adults - US
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Spending Power of Young Adults - US

DateNov, 2006
Pages98
Price / format$3995 / Online Download
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Abstract:
 In this report, Mintel explores the demographics of young adults, their shopping and purchasing behavior, how they spend their leisure time, how they use the Internet, and how a wide range of major brands position and promote their products to young adults through TV ads.

Marketers are constantly trying to get a piece of young adults’ pocketbook, and for good reasons. In 2006, there are 68.9 million individuals aged 18-34, representing 23.1% of the total U.S. population-a sizeable and diverse group.

Two distinct groups of young adults-18-24s and 25-34s-show noteworthy differences when it comes to spending and use of free time. Young adults aged 18-24 are still pursuing an education, may be living with their parents, have more discretionary income, enjoy shopping as a social activity, and rely more and more on the Internet for communication. Adults aged 25-34 are starting careers, buying homes, raising children, and have less leisure time.

The youngest adults are exploring the world and trying to find their place in it, and part of this means keeping up with the latest fashions and trends. The older adults in this group, in contrast, are beginning to shift their focus to family life and careers, and more of their discretionary spending and leisure time is geared toward their families.

To paint a picture of each distinct age group, Mintel conducted and analyzed consumer research that seeks answers on the following topics:
  • Is shopping a social activity or a necessity?
  • Do young adults prefer shopping in a store or on the Internet?
  • Where do young adults prefer to shop?
  • How has the Internet affected young adult shopping, spending, work, communication, and leisure time?
  • How does family situation affect what and how young adults purchase?
  • How do young adults spend their leisure time?
This report compares the values and priorities of the 18-24s and the 25-34s, and also examines how they differ from or resemble the older base of the entire population to help marketers shape campaigns that will effectively reach young adults.

This report contains US IRI InfoScan data.


Table of contents:
SCOPE AND THEMES
What you need to know
Definition
Abbreviations and terms
Abbreviations
Terms

EXECUTIVE SUMMARY
Snapshot of the market
Young adults make up almost a quarter of the population
Age and type of household influence income
Hanging around campus
Aging turns attention to finances and more debt
Leisure time means something different to each group
Attitudes towards shopping change over time
Shopping malls-a popular destination for younger respondents
Respondents shop a wide range of retail stores
Front and center: the Internet in the lives of young adults
Shopping online
Activities online
Advertising to young adults
Reaching the 18-34 year old, consumer insights and recommendations
18-24-specific
25-34-specific

MARKET BACKGROUND
Introduction
POPULATION STATISTICS
Total population
Figure 1: US Total population, by age, 2001-11
Race/ethnicity
Population of 18-24 year olds by race/ethnicity
Figure 2: US population of adults aged 18-24, by race/ethnicity, 2001-11
Population of 25-34 year olds by race/ethnicity
Figure 3: US population of adults aged 25-34, by race/ethnicity, 2001-11
Gender
Population of 18-24 year olds by gender
Figure 4: US population of adults aged 18-24, by gender, 2001-11
Population of 25-34 year olds by gender
Figure 5: US population of adults aged 25-34, by gender, 2001-11
Population of 18-24 year old females by race/ethnicity
Figure 6: US population of females aged 18-24, by race/ethnicity, 2001-11
Population of 18-24 year old males by race/ethnicity
Figure 7: US population of males aged 18-24, by race/ethnicity, 2001-11
Population of 25-34 year old females by race/ethnicity
Figure 8: US population of females aged 25-34, by race/ethnicity, 2001-11
HOUSEHOLD INCOME
Household income by age
Figure 9: US household income, by age, 2004 and 2005
Household income by type of household
Figure 10: Number of households and household income, by type of household, 2004 and 2005
The future of work and home/life balance
Household income by race/ethnicity
Figure 11: Number of households and household income, by race/ethnicity, 2004 and 2005
THE FAMILY STRUCTURE
Figure 12: Living situations of young adults, by age, October 2006
Figure 13: Living location of respondents, by age, October 2006
Urban vs rural vs suburban

YOUNG ADULTS, MONEY AND INCOME
Financial planning
Figure 14: Financial planning habits of young adults, by age, October 2006
Credit cards and debt
Figure 15: Forms of payment used for last purchase by young adults, by age, October 2006
Figure 16: Debt owed by young adults, by age, October 2006
Young adult spending: what influences their purchases
Figure 17: Status and impact of income and debt among young adults, by age, October 2006
Figure 18: Impact of other people on spending among young adults, by age, October 2006
Figure 19: Reasons for paying more for a product among young adults, by age, October 2006

EVENTS AND LEISURE
The events in a young adult’s life
Figure 20: Events experienced in last 12 months, by age, May 2005-June 2006
Figure 21: Events expected to experience in next 12 months, by age, May 2005-June 2006
Activities and hobbies
Figure 22: Leisure activities participated in during last 12 months, by age, May 2005-June 2006
Weekend versus weekday
Figure 23: Weekday vs weekend spending among young adults, by age, October 2006

SHOPPING AND SPENDING BEHAVIOR
Overview
Figure 24: Shopping behavior, by age, May 2005-June 2006
Novelty is in
Children hold some of the purse strings
Attitudes about shopping
Figure 25: Attitudes about shopping, by age, May 2005-June 2006
Shopping trends
Figure 26: Shopping companions of young adults, by age, October 2006
Figure 27: Where young adults shop, by age, October 2006

SHOPPING BY SECTOR
Clothing and accessories
Men and apparel
Figure 28: Incidence of purchase, by age, May 2005-June 2006
Figure 29: Apparel or accessories purchased by men in the past 12 months, by age, May 2005-June 2006
Women and apparel
Figure 30: Incidence of purchase by women, by age, May 2005-June 2006
Figure 31: Apparel or accessories purchased by women, by age, May 2005-June 2006
Attitudes about apparel
Figure 32: Opinions about apparel, by age, May 2005-June 2006

WHERE DO THEY SHOP AND PURCHASE?
Shopping malls and strip malls
Figure 33: How many visited a shopping mall in the past four weeks, by age, May 2005-June 2006
Figure 34: Number of shopping mall visits in the past four weeks, by age, May 2005-June 2006
Figure 35: Visited a strip mall in past four weeks, by age, May 2005-June 2006
Supermarket and food stores
Figure 36: Supermarket/food stores visited in past four weeks, by age, May 2005-June 2006
Convenience stores
Figure 37: Convenience stores visited in past four weeks, by age, May 2005-June 2006
Department, discount, clothing, toy, footwear stores
Figure 38: Department/discount/clothing/children’s toy/footwear stores shopped in last three months, by age, May 2005-June 2006
Where 18-24 year olds shop
Where 25-34 year olds shop
Department, discount, clothing and children’s store purchases in past four weeks
Figure 39: Department/discount/clothing/children’s toy/footwear stores purchased from in last four weeks, by age, May 2005-June 2006
Home furnishings stores
Figure 40: Home furnishing stores visited in last three months, by age, May 2005-June 2006
Electronics stores
Figure 41: Electronics stores visited in last three months, by age, May 2005-June 2006
Home improvement stores
Figure 42: Home improvement stores visited in last three months, by age, May 2005-June 2006
Office supplies and computer stores
Figure 43: Office supply/computer stores visited in last three months, by age, May 2005-June 2006

YOUNG ADULTS AND THE INTERNET
The Internet vs a physical store
Figure 44: Online vs physical location shopping among young adults, by age, October 2006
Shopping online-younger respondents
Trends in online shopping for 18-24 year olds
Shopping for clothes online - older respondents
Ordering on the Internet
Figure 45: Adults who order online, by age, May 2005-June 2006
Figure 46: Ordering online, by age, May 2005-June 2006
What they are buying-18-24 year olds
What they are buying-25-34 year olds
The Internet: a time saver for busy Americans
How much they spend on the Internet
Figure 47: Spending amount online, by age, May 2005-June 2006
Payment method for online purchases
Figure 48: How young adults pay for Internet purchases, by age, May 2005-June 2006
From where did the offer that resulted in an Internet purchase come?
Figure 49: Origin of order purchased online, by age, May 2005-June 2006
The Internet and lifestyle
Figure 50: Attitudes about Internet usage, by age, May 2005-June 2006
How older respondents use the Internet
How younger respondents use the Internet
Online activities
Figure 51: Online activities, by age, May 2005-June 2006
Popular online activities for older respondents
Popular online activities for younger respondents
Figure 52: Most popular websites, 2006

ADVERTISING AND PROMOTION TO YOUNG ADULTS
adidas
Figure 53: Most adidas commercial featuring Reggie Bush
iPod
Figure 54: iPod commercial featuring Eminem
Cirque de Soleil-Delirium
Figure 55: Cirque de Soleil commercial
Converse
Figure 56: Converse commercial featuring Wayne Wade
EA Sports-Madden NFL ’07
Figure 57: EA Sports-Madden NFL ‘07
EA Sports-NHL 2007
Figure 58: EA Sports-NHL 2007
Ecco USA
Figure 59: Ecco USA commercial
Gibson Guitars
Figure 60: Gibson Guitars commercial
K-Swiss Sports
Figure 61: K-Swiss Sports commercial
Pringles
Figure 62: Pringles commercial
Reebok
Figure 63: Reebok commercial
Skechers
Figure 64: Skechers commercial

FUTURE TRENDS
Demographic shifts
Summary
Effect of demographic change on key sectors
Credit/debt
The social or family influence
Retail outlets
Shopping on the Internet…more


APPENDIX: TRADE ASSOCIATIONS




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