Euro RSCG Discovery, the North American data analytics, CRM and behavioral marketing
agency network of Euro RSCG Worldwide, today announced a new study of teen and young
adult consumers, ages 13 to 21, found that consumer behavior among females in this
age group has shifted more than that of males in the economic recession. The
study also found brand loyalty is increasingly important among this age group,
as a majority of teenagers and young adults (73%) shop at a set group of
stores.
"There is an immense opportunity for gender-specific behavioral marketing that
will engage teens and young adults in this recession, especially when it
targets those that spend their own money," said Zain Raj, CEO of Euro RSCG
Discovery and Global Practice Leader, Retail Brands of Euro RSCG Worldwide.
"Although the economy is impacting teen consumers, and particularly young
women, loyalty patterns indicate that marketers stand to benefit most from
advertising brand value and finding new ways to become part of this age
group's brand rituals."
According to the survey, female teens and young adults are more worried about
the economy (92% v. 87%) and are more likely to engage in money-saving
activities (41% v. 35%) than males. Compared to one year ago, nearly half of
females in this age group are looking for sales (48%) and staying home (51%)
more often, compared to fewer than 43% of males in both categories.
The males surveyed were more likely to report not being affected by the
economic slowdown (15% v. 7%) and that the relationships they have with the
stores they shop at have grown stronger over the last year. In fact,
significantly more males than females always (6% v. 3%) or usually (26% v.
17%) buy brand name clothing at full retail price. Almost half (48%) of the
males polled buy high-end brands just as often, and nearly one-third (29%)
spend money on entertainment more often.
However, males are more likely to shop for one item at a time (42% v. 33%) and
to think of clothing as seasonal (19% v. 13%). They are also far less likely
to seek information from media, catalogs and the Web for their purchase
decisions.
"Now more than ever, it is important for brands to capitalize on the
relationships they have with this younger audience," said Raj. "While young
consumers are becoming more conscientious about their purchases, they still
return to the stores and brands they are familiar with when it comes time to
buy."
The survey revealed the best opportunity to target the younger generation of
consumers is in stores, despite a high proliferation of internet and social
network use among this age group. The study found that more than 70% of
teenagers and young adults research and make purchases in stores. In
addition, stores were the most prominent source of fashion purchase
information, compared to word of mouth (53%), catalogs (37%), magazines (23%),
online (20%) and TV (17%).
The study, based on an online survey of 1000 teens aged 13 to 21, was
conducted in partnership with American Student List, the nation's leading
provider of student and youth marketing data and part of the Euro RSCG
Discovery network. Data was weighted to be geographically representative.
Source : Euro RSCG Discovery
SOURCE Euro RSCG Worldwide
