Post on 04-Aug-2015
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Generation Gap?Political and Economic Sentiment Across
Three Generations
Bay Area Research Forum, May 2015
Presented by: Matt Newman and Courtney Williams, Research Now
©2015 Research Now Group, Inc. 2
What will we learn today?
Our goal is to share primary research comparing Millennials, Generation X, and Baby
Boomers• Who are these generations?
• What are their political and economic sentiments?
• What are the practical implications?
3©2015 Research Now Group, Inc.
Silent Generation, Baby Boomers, Xers, and Millennials
*Source: Pew Research Center, http://www.pewsocialtrends.org/2015/03/19/comparing-millennials-to-other-generations/
68.4M
64.6M
74.3M
26.8M
2014 Pop
4©2015 Research Now Group, Inc.
Putting Millennials in perspective
This year (2015), Millennials will overtake Baby Boomers
Millennials are expected to comprise 75% of the global workforce by 2025.
By 2020, nearly half of all US workforce is expected to be comprised of this generation.
Millennial population is projected to peak in 2036 at 81.1 million. Noteworthy the Boomers peaked at 78.8 million in 1999.
By 2016, Millennials will have a greater financial spend than Baby Boomers over their life span and will account for 1/3 of all U.S spending by 2020.
6©2015 Research Now Group, Inc.
Research Now Opinion Tracker
CONTENT AREAS• Presidential / Congressional Approval• Current Events• Economic Sentiment
• Spending Behavior• Brand Preferences
Tracker has been running since November 2014Goal is to conduct primary research on public opinion
• 400 completes / week• Census balanced on completes• Total N ~ 8,500 (April 16th)
• Mobile friendly, LOI < 10 minutes
7©2015 Research Now Group, Inc.
Millennials Most Optimistic About EconomyMillennials
Generation X
Baby Boomers
18.60%
13.30%
11.50%
40.30%
34.60%
31.80%
41.10%
52.10%
50.60%
How Would You Rate The Economy Overall?
Excellent / Very Good AverageFair / Poor
Millennials
Generation X
Baby Boomers
40.30%
29.90%
29.90%
43.60%
48.50%
47.00%
16.00%
22.60%
23.00%
How Do You Expect Economy To Change?
Improve Stay the Same Decline
8©2015 Research Now Group, Inc.
Millennials Most Satisfied with All Leadership
Presidential Approval Congressional Approval1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
Millennials Generation X Baby Boomers
Rated from 1 (very dissatisfied) to 5 (very satisfied)
3 = “neutral”
9©2015 Research Now Group, Inc.
Millennials Slightly More Liberal…
Millennials
Generation X
Baby Boomers
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
43.40%
38.50%
36.90%
32.87%
33.30%
32.40%
23.90%
28.20%
30.70%
Democrat Independent Republican
10©2015 Research Now Group, Inc.
But Millennials Are Least Likely to Vote…
Registered to Vote
Voted in Last Presidential Election
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Baby Boomers Generation X Millennials
11©2015 Research Now Group, Inc.
Generations Differ in Choice of “Most Important Issue”
Education
Healthcare
Domestic Economy
National Security
Deficits and National Debt
Social Issues
Immigration
Global Economy
Taxes
International Events
0% 4% 8%12%
16%
Millennials Rank
Gen X Rank
Boomers Rank
1 6 6
2 3 3
3 1 2
4 2 1
5 4 4
6 7 9
7 5 5
8 9 10
9 8 8
10 10 7
12©2015 Research Now Group, Inc.
Generations Have Different Areas of Frustration: Boomers Frustration Gap
68%
60%
57%
51%
56%
51%
51%
68%
73%
64%
National Security
Domestic Economy
Healthcare
Deficits and Debt
Education
Taxes
Immigration
International Events
Global Economy
Social Issues
1 2 3 4 5
“Importance” Rating
13©2015 Research Now Group, Inc.
Generations Have Different Areas of Frustration: Gen-X Frustration Gap
61%
62%
70%
60%
57%
58%
61%
70%
69%
73%
Healthcare
Domestic Economy
National Security
Education
Deficits and Debt
Taxes
Immigration
Global Economy
Social Issues
International Events
1 2 3 4 5
“Importance” Rating
14©2015 Research Now Group, Inc.
Generations Have Different Areas of Frustration: Millennials
Education
Healthcare
National Security
Global Economy
Immigration
1 2 3 4 5
Frustration Gap
65%
67%
69%
72%
78%
64%
78%
76%
73%
84%
“Importance” Rating
15©2015 Research Now Group, Inc.
Generations Have Different Areas of Frustration: Summary
Issue Millennials Gen-X Boomers
Education
Taxes
Healthcare
Domestic Economy
National Security
Deficits and Debt
Global Economy
Social Issues
Immigration
International Events
But there’s also quite a bit of agreement…
16©2015 Research Now Group, Inc.
Sneak Peak: Tracking Discretionary Spending
Nov
embe
r
Dec
embe
r
Janu
ary
Febr
uary
Mar
ch
Nov
embe
r
Dec
embe
r
Janu
ary
Febr
uary
Mar
ch
Nov
embe
r
Dec
embe
r
Janu
ary
Febr
uary
Mar
ch
Millennials Gen X Baby Boomers
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
More Dining Out More Travelling More Entertainment
17©2015 Research Now Group, Inc.
Sneak Peak: Tracking Discretionary Spending
1-N
ov
1-D
ec
1-Ja
n
1-Fe
b
1-M
ar
1-N
ov
1-D
ec
1-Ja
n
1-Fe
b
1-M
ar
1-N
ov
1-D
ec
1-Ja
n
1-Fe
b
1-M
ar
Millennials Gen X Baby Boomers
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
More Dining Out More Travelling More Entertainment
18©2015 Research Now Group, Inc.
Practical Implications
How are Millennials Different? …in so many ways!
19©2015 Research Now Group, Inc.
In Summary…
• Millennials are..– Optimistic, but less likely to vote– Somewhat more politically liberal– Most concerned with issues closer
to home • Implications and Future Directions– Self-definitions versus
perceptions of others– How they gather data– Shopping habits and brand
preferences
• Gen-Xers are…– The middle children– Lacking a strong generational
identity
• Baby Boomers are…– Most pessimistic and most
dissatisfied– More concerned with immigration
and national security than other generations