With a new report stating that one in five of the UK’s young adults is out of work, it’s fair to say that the job market is a difficult world for some. Because of this, brands need to pay close attention to this demographic, as research highlights that young consumers are responding to economic hardship in different ways.
Young people are showing diverse attitudes towards the economy, and brands aspiring to connect with 18-to 24-year-olds must now tailor their offer to 5 groups, according to an agency.
The research surveyed 1,000 18 to 24-year olds, calling the group the ‘Con-Demmed Youth’, a clever play on words between the Conservative and Lib Dem government they exist under. The 5 groups are:
- Go Getters – 23% of the sample, classed as the most ambitious and socially aware people
- Cotton Wool Kids – financially protected young adults who make up 23% of this sample
- Passive Massive 22% of the sample, the laissez-faire segment
- Minimum Rage group – 17% fall into this segment, the most likely to be unhappy and lacking in ambition
- Shundergrads – the 15% who are very savvy and see little need for a university degree.
The Go Getters are perhaps where some brands should take note. Mostly female, this group are academically successful, socially aware and with high career goals. Although not particularly materialistic and happy to mix designer and high street brands, they’re likely to spend money on some premium brands and eating out.
On the other end of the scale, the Passive Massive group shows little discrimination and lacks opinions on brands, and has little interest in the state of the economy. Unsurprisingly this is where the highest level of unemployment sits, with 55% saying a career is not necessary for their happiness.
The report makes for interesting reading. Take a look at the five groups that make up the ‘Con-Demmed Youth’ study and their favoured brands. Read more…
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January 28, 2012
A word from Phil Preston – The printed world needs your support
by CIM GLR
in Advertising, Chairman's comment
Pretty soon there’ll be too many trees
As you probably know by now, before arriving on planet CIM I lived in the world of newspapers. I left 3 years ago at a time when both national and regional titles were suffering a devastating slump in advertising revenues and I don’t think things have changed much since.
Of course it’s not just the state of the economy that is forcing many companies to retrench. The impact of digital on virtually everything is really challenging the norm – just ask Kodak, HMV and Waterstones (with or without an apostrophe) about it.
I guess you could say this is the inevitable result of progress, but at the risk of being called a Luddite, I’m pretty sad about the demise of newspapers. The great thing about reading a newspaper, magazine and indeed a book, is that it forces you to take time out.
It’s difficult to multi-task while reading (being a man I find this difficult most of the time) and anyway we all need a bit of time to ourselves to relax with a coffee and a good read.
So take my advice, put down that tablet, smartphone and laptop and pick up a paper. Switch-off, disconnect and resist the temptation to check your emails or tweet about what you had for breakfast and read a book (a real one, not a Kindle).
The printed word needs your support like never before – without newspapers, magazines or books I think the world would be a sadder place. And we’d be overrun by too many trees.
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