Q3 2016 YPULSE REPORT TRENDS:
THE DIVERSITY TIPPING POINT
Minorities are now the majority among the next generation, and in 2020, the percentage of white people under 18-years-old in the U.S. is expected to fall below 50%. Today’s young consumers even more diverse than Millennials. We’ve long told brands that they want to see themselves reflected in media, and the calls for diversity in entertainment, marketing, and more are intensifying as their collective voices grow. The Diversity Tipping Point explores the role that race and ethnicity is playing in their own beliefs and views, as well as what they desire and expect out of brands and representation.
Earlier this year, we reported that 74% of 13-33-year-olds would rather spend their money on experiences than products. Their experience-focused behavior has become not just a well-known central value of the generation, but a pivotal preference that has left its mark on multiple industries. As a result, turning your brand or product into an experience has become a major marketing trend—but what do young consumers think of the Experiencification of brands and retail? We found out what would actually draw them into stores, and what you need to know about the allure of experience.
Paying down debt, cooking well-balanced meals, juggling full-time careers with full-time families: we can all admit that the freedom that comes with adulthood has its trade-offs. Though not yet a verified dictionary word (but on Merriam-Webster’s “Words We’re Watching” list), adulting has caught on as a catch-all for the generation to both celebrate and lament what it means to be an adult. Millennials are using their self-deprecating sense of humor and penchant for Chasing Neverland to stall “growing up” while still taking on higher stakes responsibilities. We explore how well they are managing their finances, work lives, relationships, and more, and how brands can ultimately help them adult.