Millennials in the U.S.: Trends and Opportunities Surrounding Gen-Y Adults

 
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Published Oct 1, 2010 | 178 Pages | Pub ID: LA2661911

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The 51 million adult members of the Millennial Generation (also known as Gen-Y) have been hit harder than any other age group by the recession. Millennials have the highest unemployment rate of all age groups, while those with jobs are most likely to have been asked at some point during the recession to work fewer hours, switch to part-time employment or agree to have their pay cut.

Yet, paradoxically, survey data show that Millennials are less likely than any other age segment to have cut spending during the recession, and they are more optimistic than other American consumers about the future of the American economy. Millennials in the 18- to 24-year-old age group have significant discretionary income, while many 25- to 29-year-olds are beginning high-income careers and are entering the heavy-spending life stage of forming households and creating families. With an aggregate income of nearly $1 trillion, adult Millennials can be expected to play a key role in the recovery of the American economy and consequently offer significant opportunities to marketers of a wide range of consumer goods and services.

The report begins with an assessment of trends shaping the adult Millennial market and identifies opportunities available to marketers interested in connecting with Gen-Y consumers. It continues with a forecast of the growth of the buying power of Gen-Y consumers through 2015 and a detailed demographic profile of the Gen-Y population. The next chapters analyze how Gen-Y consumers manage and spend money. Individual chapters provide an in-depth view of the role of technology in the lives of Millennials, an assessment of ongoing changes in the media consumption habits of Gen-Y consumers and an overview of the leisure-time and entertainment patterns of Millennials. The report concludes with an analysis of the attitudes and behavior of Millennial consumers in the areas of fashion, food and automotive.


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        •   Involvement in Digital Media and Advertising by 18- to 29-Year-Olds
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        •   Selected Opportunities Related to Shopping Habits of 18- to 29-Year-Olds

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        •   Selected Opportunities Related to Consumer Electronics Preferences of 18- to 29-Year-Olds

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        •   Selected Opportunities Related to Magazine and Cable Channel Preferences of 18- to 29-Year-Olds

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        •   Selected Opportunities Related to Ownership and Purchase of Automotive Vehicles by 18- to 29-Year-Olds

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        •   Selected Opportunities in Gen-Y Market Related to Food

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        •   Selected Opportunities in Gen-Y Market Related to Financial Services

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        •   Size of Adult Gen-Y Population by Single Year of Age, 2008 (in thousands)

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        •   Projected Growth in the Adult Gen-Y Population by Selected Age Group, 2008 vs. 2015 (in thousands)
        •   Selected Age Groups as Percent of Total Population, 2008, 2010 and 2015

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        •   Aggregate Income of 18- to 29-Year-Olds by Age Group
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        •   Projected Growth in Aggregate Income of 18- to 29-Year-Olds, 2010-2015
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        •   Projected Growth in Aggregate Income of 25- to 29-Year-Olds, 2010-2015
        •   Growth in Aggregate Income of 18- to 29-Year-Olds by Age Group, 2010-2015

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        •   Percent of Males and Females by Selected Age Groups, 2008

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        •   Non-Hispanic Whites and Multicultural Population Groups as Percent of U.S. Population by Age Group, 2008

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        •   Population of 20- to 29-Year-Olds by Age Group and Race and Hispanic Origin, 2010 vs. 2015 (in thousands)

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        •   Foreign-Born Gen-Y Adults, 2008
        •   Number of Gen-Y Adults with Foreign-Born Parents, 2008
        •   Population by Age and Generation, 2008

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        •   Marital Status of 18- to 29-Year Olds by Gender, 2008

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        •   Family Householders in the 20- to 29-Year-Old Age Group with Children by Age of Children, 2009 (in thousands)

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        •   Percent of 18- to 34-Year-Olds Living in Parents' Home by Gender and Age Group, 2000-2009
        •   Number of 25- to 34-Year-Olds Living in Parents' Home by Gender, 2000-2009 (in thousands)

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        •   Enrollment Status of 18- to 29-Year-Olds, 2008
        •   Enrollment Status of 18- to 29-Year-Old Males, 2008
        •   Enrollment Status of 18- to 29-Year-Old Females, 2008

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        •   Educational Attainment of 18- to 29-Year-Olds by Age Group and Gender

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        •   Median Usual Weekly Earnings of Full-Time Female Workers as Percent of Men's Earnings by Age Group, 2009

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        •   Unemployment Rate for the Population Age 18 and Over by Age Group, 2009

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        •   Distribution of Income of All 18- to 29-Year-Olds by Age Group and Gender

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        •   Mean Earnings of 18- to 29-Year-Old College Graduates Working on Full-Time, Year-Round Basis by Age Group and Gender (in thousands)

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        •   Religious and Social Values, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Attitudes toward Conformity, 18- to 29-Year-Olds vs. Other Age Groups
        •   Approval Seeking Scale, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Attitudes toward Work and Money, 18- to 29-Year-Olds vs. Other Age Groups

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      •   Attitudes toward Spending and Money Management, 18- to 29-Year-Olds vs. Other Age Groups

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      •   Banking and Investments, 18- to 29-Year-Olds vs. Other Age Groups
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      •   Ownership and Use of Debit and Credit Cards, 18- to 29-Year-Olds vs. Other Age Groups

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      •   Type of Loans, 18- to 29-Year-Olds vs. Other Age Groups

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      •   Paying Bills, 18- to 29-Year-Olds vs. Other Age Groups

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      •   Ownership of Insurance, 18- to 29-Year-Olds vs. Other Age Groups

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      •   Ownership of Property and Vehicle Insurance, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Preparing Tax Returns in Last 12 Months, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Brand Loyalty, 18- to 29-Year-Olds vs. Other Age Groups by Gender
        •   Brand Loyalty Scale, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Attitudes toward Sales and Bargains, 18- to 29-Year-Olds vs. Other Age Groups by Gender
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        •   Shopping as a Social Experience, 18- to 29-Year-Olds vs. Other Age Groups by Gender

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        •   Number of Times Shopped in Last Four Weeks by Category, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Type of Retail Outlet Shopped in Last Four Weeks, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Purchases Made in Last 12 Months, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Department/Discount Stores Shopped by 18- to 29-Year-Olds in Last Three Months

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        •   Use of Cents-Off Coupons, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Response to Incentive Offers from Product Manufacturers by Type of Offer, 18- to 29-

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        •   Receptivity to Incentive Offers, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Receptivity to In-Store Promotions, 18- to 29-Year-Olds vs. Other Consumers
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        •   Attitudes toward Green Consumerism, 18- to 29-Year-Olds vs. Other Consumers

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        •   Online Shopping Activities in Last 12 Months, 18- to 29-Year-Olds vs. Other Age Groups
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        •   Amount Spent and Method of Payment Online in Last 12 Months, 18- to 29-Year-Olds vs. Other Age Groups
        •   Item/Service Ordered Online in Last 12 Months, 18- to 29-Year-Olds vs. Other Age Groups
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        •   Attitudes toward Consumer Electronics, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Consumer Electronics Early Adopter Scale, 18- to 29-Year-Olds vs. Other Age Groups
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        •   Number of Hours per Week Using PC at Home, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Impact of the Internet on Lifestyle, 18- to 29-Year-Olds vs. Other Age Groups
        •   Internet Activity Psychographic Scales, 18- to 29-Year-Olds vs. Other Age Groups
        •   Frequency of Internet Use at Home, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Device of Internet Access at Home, 18- to 29-Year-Olds vs. Other Age Groups
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        •   Online Activities of 18- to 29-Year-Olds in Last 30 Days

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        •   Websites Visited by 18- to 29-Year-Olds in Last Seven Days

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        •   Attitudes toward Cellphone Services and Features, 18- to 29-Year-Olds vs. Other Age Groups
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        •   Cellphones as Social Tool, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Using a Cellphone, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Cellphones as an Information Tool, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Impact of the Internet on Media Habits, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Online Media Consumption, 18- to 29-Year-Olds vs. Other Age Groups
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        •   Usage of Spanish-Language Media, 18- to 29-Year-Olds vs. Other Age Groups
        •   Usage of Spanish- and English-Language Media by 18- to 29-Year-Old English- Speaking Hispanics

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        •   Attitudes toward Newspapers, 18- to 29-Year-Olds vs. Other Age Groups
        •   Newspaper Involvement, 18- to 29-Year-Olds vs. Other Age Groups
        •   News Seeking Scale, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Magazine Involvement, 18- to 29-Year-Olds vs. Other Age Groups
        •   Media Involvement, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Leading Magazine Choices of 18- to 29-Year-Old Men and Women

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        •   TV Involvement, 18- to 29-Year-Olds vs. Other Age Groups
        •   Attitudes toward Television, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Access to Cable TV, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Primetime TV Showtypes Viewed, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Primetime Networks Viewed in Last Seven Days, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Most Popular Cable Television Channels, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Attitudes toward Radio, 18- to 29-Year-Olds vs. Other Age Groups
        •   Radio Involvement, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Most Popular Radio Formats, 18- to 29-Year-Olds vs. Other Age Groups
        •   Most Popular Radio Formats, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Attitudes toward Advertising, 18- to 29-Year-Olds vs. Other Age Groups
        •   Attitudes toward Advertising, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Receptivity to Online Advertising by Type of Ad, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Receptivity to Cellphone Advertising, 18- to 29-Year-Olds vs. Other Age Groups
        •   Receptivity to Cellphone Advertising, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Attitudes toward Product Placement, 18- to 29-Year-Olds vs. Other Age Groups
        •   Attitudes toward Product Placement, Non-Hispanic White vs. Multicultural 18- to 29- Year-Olds

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        •   Ownership of Consumer Electronics, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Ownership of Television Sets, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Ownership of VCRs and DVRs, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Purchase of Books (not Ebooks) in Last 12 Months, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Attitudes toward Video Games, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Movie Genre Purchased on DVD, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Ownership of Audio Equipment, 18- to 29-Year-Olds vs. Other Consumers

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        •   Purchase of CDs, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Favorite Music Types, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Live Entertainment Events Attended in Last 12 Months, 18- to 29-Year-Olds vs. Other Consumers

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        •   Movie Attendance, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Attitudes toward Fast Food, 18- to 29-Year-Olds vs. Other Age Groups
        •   Fast Food Restaurants Visited the Most by 18- to 29-Year-Olds

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        •   Family Restaurants Visited the Most by 18- to 29-Year-Olds

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        •   Attitudes toward Fashion, 18- to 21-Year-Olds vs. Other Age Groups by Gender

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        •   Attitudes toward Shopping for Clothes, 18- to 29-Year-Olds vs. Other Age Groups by Gender

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        •   Attitudes toward Fashion and Clothes Shopping, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Men's Apparel and Accessories Purchased by Men in Last 12 Months, 18- to 29-Year- Olds vs. Other Age Groups
        •   Women's Apparel and Accessories Purchased by Women in Last 12 Months, 18- to 29-

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        •   Use of Personal-Care Products by Men, 18- to 29-Year-Olds vs. Other Age Groups
        •   Use of Personal-Care Products by Women, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Trying Out New Foods, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Counting Calories, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Healthy Eating Habits, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Eating Prepared Foods, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Attitudes toward Driving

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        •   Factors Influencing Automotive Purchase Decisions, 18- to 29-Year-Olds vs. Other Age Groups
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        •   New vs. Used Vehicles, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Foreign vs. Domestic Vehicles, 18- to 29-Year-Olds vs. Other Age Groups
        •   Foreign vs. Domestic Vehicles, Non-Hispanic White vs. Multicultural 18- to 29-Year-Olds

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        •   Vehicle Model Type Owned, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Make of Vehicle Owned, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Characteristics of Most Recent Car Acquired, 18- to 29-Year-Olds vs. Other Age Groups

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        •   Next Vehicle Purchase, 18- to 29-Year-Olds vs. Other Age Groups
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