Millennials 12.0: Holiday Spending Study

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The twelfth wave of a new annual report profiling these up and coming Millennials. Buzz on Holiday Spending Study 12.0

description

Buzz Marketing Group's TWELFTH WAVE of our annual report profiling 20somethings. This month, we discuss Millennials and Holiday Spending.

Transcript of Millennials 12.0: Holiday Spending Study

Page 1: Millennials 12.0: Holiday Spending Study

Th e twe lf th wa ve o f a n e w a n n ua l r e p o r t p r o f ili n g th e s e u p a nd c o m i ng Mille n n ia ls.

Buzz on Holiday Spending

Study 12.0

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9000 buzzSpotters®

male 37%

female 63% 61

1 Par tic ipa n ts

Who was Involved?

/ buzzmg.com

611 members of our buzzSpotter® network participated in th is survey.

This network is used as a resource for ethnographies, focus groups, personal

interviews, immersion experiences, surveys, and polls.

Overall, this panel is composed of trend influencers and represent all of the “tribes” we have identified, which

include: independents, preppies, techies and alternatives.

Launched 10.29

.12

1,237 attempts

Fielded online

Closed 11.02.12

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The majority of participants are from these states.

STATS BY STATE AND PERCENTAGE >>>

location

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AZ  2%  

CA  11%  

FL  4%  

GA  4%  

IL  9%  

IN  2%  

MD  2%  MA  

4%  MI  3%  MN  

2%  MO  2%  

NJ  6%  

NY  13%  

NC  3%  

OH  5%  

OR  3%  

PA  5%  

SC  2%  

TX  4%  

Rest  of  the  USA  14%  

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The respondents ranged in age from 18 – 35 years old.

AGE

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31-­‐35  

27-­‐30  

23-­‐26  

18-­‐22  

26%  

21%  

31%  

22%  

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White  69%  

Black  18%  

Asian  American  3%  

Hispanic  8%  

American  Indian  1%  

Other  1%  

ethnicity

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Relationship Status

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Single  13%  

DaUng  2%  

In  a  relaUonship  

8%  

Married  68%  

Divorced  9%  

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Education

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High  school  diploma  26%  

Associates  Degree  21%  

Bachelors  Degree  36%  

Masters  Degree  12%  

Ph.D  1%  

None  of  the  Above  4%  

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Working  full-­‐Ume  

Working  part-­‐Ume  

Unemployed   Self-­‐employed   Other   A  student   A  student-­‐worker  

54%  

15%  11%   8%   6%   4%   2%  

employment

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Household income

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45% of our Millennials fall

between

the national average h ouseh o ld

income of $33,000 and $82,000

Less  than  $8,000  

$8,000  -­‐  $33,000  

$33,000-­‐  $82,000  

$82,000  -­‐  $170,000  

$170,000  -­‐  $370,000  

More  than  $370,000  

I  don't  want  to  specify  

1%   13%  

45%  

33%  

5%  1%   2%  

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Myself   My  Child(ren)   My  Friends   My  Parent(s)   Other  

92%  

54%  44%  

22%   21%  

Who do you shop with?

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When will you begin Holiday

shopping?

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November   I  shop  all  year  long  for  holiday  gias...  

Black  Friday  

October   2  Weeks  before  

Christmas  

Before  October  

Halloween   Last  minute  

39%  

18%  

14%   13%  

7%  5%   4%  

1%  

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Once  5%  

Twice  2%  

Three  Umes  8%  

Four  Umes  6%  

Five  Umes  3%  

As  many  Umes  as  I  need  to  76%  

How many times will You go shopping?

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How will the economy

impact your spending?

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I  will  try  to  reuse  last  year's  items  

I  will  not  be  impacted  by  the  economy  this  year  

I  will  buy  more  store  brand/generic  products  

I  will  spend  less  overall  and  I  will  use  more  coupons  

I  will  do  more  online  shopping  

I  will  do  more  comparaUve  shopping  online  

I  will  look  for  more  sales  

8%  

16%  

17%  

32%  

47%  

56%  

72%  

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How much do you plan to spend this

year?

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$0  -­‐  $200   $200  -­‐  $400   $400  -­‐  $600   $600  -­‐  $800   $800  -­‐  $1,000  

$1,000  -­‐  $1,200  

More  than  $1,200  

8%  

19%  22%  

14%   14%  

9%  

15%  

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more  than  last  year  21%  

the  same  amount  as  last  year  53%  

less  than  last  year  26%  

Do you plan to spend more or less than last

year?

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Debit  Card  44%  

Credit  Card  33%  

Cash  23%  

How do you plan to pay for your purchases this

year?

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Yes  61%  

No  39%  

Are you more likely to purchase something if part

of the proceeds go to charity?

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Local  61%  

NaUonal  29%  

Global  10%  

What type of charities do

you prefer to donate to?

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Which causes do you prefer to support?

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Children  (  Make  A  Wish)  

Health  Related  (  Breast  Cancer  )  

Women's  Issues  (  DomesUc  Violence  

Green  (  NaUonal  Wildlife  FederaUon  )  

75%  

54%  42%  

32%  

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Did you use coupons last

year?

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There is an 11% increase in the amount of

Millennials using coupons in

comparison to last

year.

Are you using coupons this

year?

Yes   No  

89%  

11%  

2012  

Yes   No  

78%  

22%  

2011  

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Where will you purchase your

items this year?

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Online   Retail  LocaUons   Department  Stores  

Discount  Stores   Electronics  Stores  

Drug  Stores   Catalogs   Smart  Phones/Tablets  

Other  

88%  82%  

77%  

55%  

48%  

31%  29%   28%  

7%  

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$100  -­‐  $200  

$200  -­‐  $300  

$300  -­‐  $400  

$400  -­‐  $500  

$500  -­‐  $600  

$600  -­‐  $700  

$700  -­‐  $800  

$800  -­‐  $900  

$900  -­‐  $1,000  

More  than  $1,000  

32%  

15%   14%  12%  

8%  4%   3%   2%   2%  

7%  

How much do you plan to

spend on electronics?

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Which electronics do

you plan to buy?

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Laptop  18%  

Smart  Phone  13%  

Tablet  20%  

E-­‐reader  10%  

MP3  Player  11%  

TV  10%  

DVD  Player  6%  

None  of  the  Above  12%  

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Will you use your technology

purchase at home and at work?

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Yes,  at  both  work  and  home    

42%  

Just  at  work  1%  

Just  at  home  43%  

I  don't  plan  on  purchasing  

technology  this  year  14%  

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If you plan to buy a laptop, which brand?

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Apple  22%  

Dell  /  Alienware  16%  

Sony  9%  

Lenovo  4%  

Acer  /  Gateway  8%  

HP  17%  

Samsung  10%  

Toshiba  9%  

ASUS  5%  

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Best  Buy  26%  

Target  16%  

Walmart  18%  

Radioshack  4%  

eBay  6%  

Amazon  20%  

K-­‐mart  4%  

Other  6%  

Where are you most likely to

purchase electronics?

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Brand  Name    16%  

Lowest  Price  16%  

Quality  49%  

Reviews  10%  

FuncUonality  Value  9%  

What is most important when

purchasing a laptop?

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Page 28: Millennials 12.0: Holiday Spending Study

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SHOP PING HAS E VOLVED. Alth ough 82% of our Millennials will sh op in traditional retail locations, 88% of them will also be sh opping online. 89% admitted they will be using coupons and 72% said they will be looking for more sales th is year.

OUR MILLENNIALS ARE STILL SPENDING. 38% of our Millennials said they will spend at least $800 th is h o liday season and 15% of them said they would spend more than $1,200. Only 8% will spend $200 or less th is year.

CHARITIES MAY INFLUENCE SPENDING THIS YEAR. 61% of our Millennials stated they would be more likely to purchase someth ing if part of the proceeds went to charity. Local charities are the most popular with our Millennials (61%).

Key Findings

Page 29: Millennials 12.0: Holiday Spending Study

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