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Growing up in the 1970s and 1980s, members of Generation X were the first to be deeply affected by divorce, and they saw their families encounter several periods of economic turmoil. As a result, researchers studying the members of Generation X during their earlier years often found a relatively pessimistic and cautious group of consumers.
Now, however, members of Generation X have become young adults who are driving the new hi-tech economy, forming families, and becoming an increasingly positive economic force. The 37 million 25- to 34-year-olds have an aggregate income that exceeds $1.1 trillion, and they have a substantial influence on a wide variety of sectors. For example, research shows that the rate of homeownership in this age group is higher than that of the Baby Boom generation at an equivalent age. As a result, Generation X consumers are having a major impact on the furniture, housewares, and home improvement industry.
Learn about why young adults are turning to traditional values and family life and how this trend affects marketing strategies. Find out what makes 25- to 34-year-old consumers different from younger adults and older Boomers—and understand what they share in common. Discover how Generation X influences the purchasing decisions of family members and friends. Explore the online shopping behavior of this technology-savvy generation.
Scope of Report
This Packaged Facts report analyzes the demographic characteristics, buying power, and consumer behavior of 25- to 34-year-olds in the United States. The demographic analysis in this report segments the young adult market by gender, race and ethnicity, and the age groups of 25- to 29-year-olds and 30- to 34-year-olds. The analysis of buying power of young adults provides growth projections for young adult men and women as well as for the population as a whole.
This report is based upon information collected directly from marketing firms and media specializing in the young adult market, a comprehensive review of print media and Web sites geared toward young adults, and a thorough analysis of relevant trade and professional journals.
U.S. Government data sources include the Bureau of Labor Statistics of the U.S. Department of Labor, the National Center for Education Statistics, and the U.S. Census Bureau. The overall population count for the 25- to 34-year-old age group is based upon the results of Census 2000. Estimates of the size of the various segments within the young adult population as well as income and employment data are based upon the March 2000 Current Population Survey, which is the latest available source for data in these detailed categories.
Young Adults’ Buying Power Tops $1 Trillion -- Demographic Continues to Grow
New York, July 6/PRNewswire -- Young adults between the ages of 25 and 34 in the United States had an aggregate buying power of over $1 trillion in 2000, with a projected growth to over $1.2 trillion by the end of 2001. According to “The Young Adult Market: Generation X Grows Up,” a new report published by Packaged Facts and released by MarketResearch.com, the leading provider of global market intelligence products and services, this growth will occur despite a leveling off in population growth for the demographic.
The new report highlights the buying habits of young adults, as well as the influence they have on the spending habits of others. “The Young Adult Market: Generation X Grows Up” finds that food and beverage products account for an overwhelming percentage of the expenditures of the forty million 25 to 34 year olds in the United States. Cars and trucks, apparel and footwear, and entertainment industries also showed substantial income from this population.
Although the 25 to 34 year old market has benefited from recent economic growth, and has enjoyed higher average salaries and a lower unemployment rates than in years past, affluence has continued to have a skewed distribution. “For example,” said Richard Koulbanis, VP of Publishing for MarketResearch.com, “young adult women are more likely to have obtained a degree of higher education than their male counterparts, but the mean income of men in this age bracket is still 35 percent higher than that of women.”
“The Young Adult Market: Generation X Grows Up” provides profiles of various successful marketing campaigns targeted at young adults, as well as information about trends, such as Internet usage and educational attainment, that are changing the demographic. “Young adults are driving the hi-tech world, forming families, and becoming an increasingly positive force in the economy,” said Mr. Koulbanis. “Understanding this demographic may be the most important challenge today’s companies face.”
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How can you capture the attention of a group with a $1.1 trillion buying power?
The US Young Adult Market, the latest report from Packaged Facts and released by MarketResearch.com, is an in-depth market report analyzing the consumer behavior of the 37 million young adults between the ages of 25-34. These members of Generation X, a formally pessimistic and cautious group of consumers, have been transformed into a positive economic force with an enormous buying power that thousands of companies are trying to harness.
The US Young Adult Market covers many of the key issues and trends for this important demographic, such as:
Representing over 600 hours of research, analysis and execution, The US Young Adult Market is compiled from both primary and secondary data and covers topics such as:
This report concludes with a series of case studies of companies active in the young adult market, including: Ford Motor Company, Toyota, Nabisco and many more. A profile of the consumer behavior of 25- to 34-year-olds, including their shopping behavior and expenditure patterns is covered, as well as an in-depth analysis of their online shopping and buying patterns. An assessment of the marketing and advertising strategies used in the young adult market, as well as a review of the media targeting young adults -- including television, radio, print, and Internet -- are included in The US Young Adult Market.
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