And Our Most Read Article of 2016 Is…

We looked back at the year to see which Ypulse insight articles our readers were most interested in—and explorations of young consumers’ entertainment and media use were the most hot topics of 2016. Our 4th most read was all about their favorite TV shows, the 3rd looked at their feelings about the social platforms they use, and the 2nd examined their daily smartphone use. And our most read article of 2016 is…

5 STATS ON MILLENNIALS, TEENS & SOCIAL MEDIA

How can the importance of social media in Millennials and teens’ lives be stated? When we survey 13-33-year-olds for our quarterly Social Media Tracker, only 2% say they don’t use any social platform. Millennials reportedly spend 11 hours and 26 minutes with smartphones daily, and Ypulse’s research shows that messaging and social networking are the two activities they are doing the most on mobile during that significant amount of their days. Teens are even more likely than older Millennials to use their phones for social networking. According to our recent monthly survey delving into social media behavior, four in ten 13-33-year-old admit they are addicted to social media.

So we don’t need to tell brands it’s important to understand the role that social media plays in young consumers’ lives—but we can keep you constantly up to date on its impacts and implications. Here are five new stats on Millennials and teens social media behavior and preferences right now:

1. Half of 13-33-year-olds say getting likes on social media gives them a rush.

There’s a reason so many feel addicted. Young consumers are often criticized for their compulsive social media use and over-sharing, but that social use can make them feel really good. Social sharing actually releases a higher dose of “feel-good hormone” oxytocin than in-person interactions—and…

 
 

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The Newsfeed

“Most of the role models and leaders in my life have been Gen Xers so far."

–Male, 16, WI

Instagram has reached 700 million active users, and its growth has been speeding up. The app hit the new user mark just four months after reaching 600 million, and the introduction of Instagram stories in August may be a major contributor to its accelerated growth. The feature has a reported 200 million daily active users compared to Snapchat’s 161 million. Overall, Instagram now has twice the user base of Twitter and is quickly approaching the coveted 1 billion user mark that Facebook, WhatsApp, and Messenger have reached. (TechCrunch)

Millennials are using social media and YouTube to decide what to buy. A U.K. study found 32% of 18-24-year-olds are using social media to research their purchase decisions before checking out, and 25% are using video platforms like YouTube. There are also signs they’d like to search for products on social media: 25% of U.K. 18-24-year-olds reported the desire to search media based on their lifestyle and 23% would like search to understand their current mood. These findings, paired with the detailed targeting available to advertisers, are changing the consumer journey from search query to cart. (AdvertisingWeek)

Millennials are keeping 70% of their money in cash, reluctant to invest in anything, from stocks to their own retirement plans—according to new BlackRock research. Clearly impacted by the Great Recession, Millennials are most likely to agree, "What you might earn investing isn't worth the risk of losing your money," and a third say “they learned what not to do with their money” from watching their parents. They also tend to undervalue the potential returns of investments by millions of dollars, which is not good news for their futures—at their current rate, most Millennials will have less than $1 million saved for retirement. (TheStreet)

Influencer marketing is proving its worth. Though marketers have worried about determining ROI with the approach, one report is claiming it’s more effective than advertising alone, showing a direct lift in results rates of up to 30%. Across 450 influencers and 11 campaigns, the expansive research compared results from consumers exposed to ads featuring influencers versus control groups, overwhelmingly showing increased action when an influencer was involved. Good news for marketers, who spent $570 million on influencer marketing on Instagram alone last year. (Adweek)

The Amazon Echo can now help pick your outfit—and tell you when you don’t look good. LED lights and a depth-sensing camera will let the new Echo Look take pictures of any look, and “Style Check” software “combines machine learning algorithms with advice from fashion specialists” to evaluate which outfit is best, and lets you compare pictures of multiple outfits, from multiple angles. Amazon’s already extensive product recommendations could feasibly be a part of this product’s future—and, if all goes well, a drone will ship the recommended new clothes to your door. (Quartz)

“I want to work for myself so that I can have more flexibility and be my own boss. I have an online business.”
—Female, 16, FL

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