iconoculture values & lifestyle survey key takeaways
TRANSCRIPT
Callahan CreekEmerging Technology Roundtable
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
CEB Iconoculture conducts an annual values and lifestyle survey across ten US consumer categories. The survey is part of a long-term effort to assess the magnitude and direction of the forces shaping consumers’ lives. Some of the topics they cover are:
• Consumer values• Consumer activities• Fashion and style• Food and beverage• Health and beauty• Home• Media and technology• Money and spending• Shopping and retail
• Transportation and travel
The following slides offer highlights, but by no means represent the totality of the work. We highly recommend CEB Iconoculture and information about their service can be found at www.iconoculture.com
Values
How are values changing?
Millennials and Gen We are beginning to shape society’s collective beliefs. The bedrock values of loyalty, responsibility, honesty and equality remain consistent across generations, but younger generations are driving an ascent of values oriented around improving and learning.
Source: 2014 Iconoculture Values & Lifestyle Survey
Purpose
Health
Diversity
Discovery
Learning
2014Rank
△ from2010
39 +16
20 +12
25 +11
40 +11
32 +8
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
Activities
Consumer Activities On The Rise
The digitization of day-to-day life is evident in the most prominent rise in activities - social media increase 17 percentage points from 2010 to 2014 (62% of US consumers now participating on a monthly basis) and taking photographs was up 13 percentage points, most likely due to smartphone use.
Source: 2014 Iconoculture Values & Lifestyle Survey
Social Media
Take photos/video
Park/beach
Coffee Shop
Entertain at home
2014 %Participate
△ from2010
62% +17
56% +13
46% +12
40% +12
38% +6
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
All high for Millennials and many membersof Gen We.
Consumer activities differ by gender
Certain activities are still predominantly engaged in by certain genders. Women are more likely to socialize and engage with food. Men tend toward physical pursuits and ingest empty calories (are we surprised?).
Source: 2014 Iconoculture Values & Lifestyle Survey
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
Women are more likely to… Men are more likely to…
Participate in social networks Manage investments
Take photographs or video Play sports
Look for new recipes/cooking ideas Go to a bar, pub or nightclub
Cook for fun Purchase fast food
Go to a park/beach Got to the movies
Visit a coffee shop Attend sporting events
Entertain at home Go camping, fishing, etc.
Attend a celebration or party
Sew, woodworking or crafts
Cook a meal with kids
Volunteer
© 2015 CEB. All rights reserved
Money and Spending Data Dive: 2014
Ken Teegardein, Flickr.com imageMoney
Household income on the rise for all generations
The good news is that all generations reported an increase in household income in the past twelve months. One of the groups hit hardest by the recession was Millennials - who thankfully saw the largest number of households reporting an increase. But the economic upturn helped even older consumers, no doubt reflecting the increased optimism seen in polls lately.
Source: 2014 Iconoculture Values & Lifestyle Survey
Millennials
Gen X
Boomers
Matures
2014 %Reportingincrease inHH income
△ from2010
38% +13
31% +8
23% +8
18% +9
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
Paying bills late dramatically declined - more good news!
With income rising, one would hope that overall household finances would improve. One clear sign of this improvement is the number of households paying bills late due to a lack of funds. After a encouraging drop in 2013, even fewer households paid bills late in 2014 - a clear sign that those paying bills were using their increased income wisely!
Source: 2014 Iconoculture Values & Lifestyle Survey
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
2011 2012 2013 20140%
10%
20%
30%24% 24%
21%
15%
Paid bills late because of lack of funds
© 2015 CEB. All rights reserved
Fashion and Style Data Dive: 2014
Ed Yourdon, Flickr.com image
PersonalStyle
What do generations feel express their personal style?
Not surprisingly, our appearance (what we wear, how we look) is a strong expression of our “personal style” across generations. Also not surprising is that as we age, our homes become a stronger reflection of our self.
An interesting difference is around technology. Younger generations feel technology reflects their style - not only as a device but by what it creates as well. Older generations? Less so, but don’t count them out. They are rapidly learning to use technology and incorporate it into their lives.
Source: 2014 Iconoculture Values & Lifestyle Survey
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
Identity is:How I see myselfHow I think others see meHow I want others to see me
Gen We
Millennials
Gen X
Boomers
Matures
0% 23% 45% 68% 90% 113%
20%
23%
17%
13%
10%
37%
39%
40%
38%
30%
27%
27%
26%
30%
35%
My tech devices express my personal style
Technology in the home
Not only has tech become an important symbol of self for younger generations, they are more frequently updating technology in their homes. These younger homes are wireless and streaming, evidence the era of everything being connected, aka the “internet of things,” is well underway.
Source: 2014 Iconoculture Values & Lifestyle Survey
A n n u a l Va l u e s & L i f e s t y l e S u r v e y Gen We
Millennials
Gen X
Boomers
Matures
0% 23% 45% 68% 90%
58%
61%
65%
74%
85%
42%
39%
35%
26%
15%
Don’t seek new tech vs. always updaing home
Always updating homeDon't seek new tech
Wifi at home Streaming video0%
20%
40%
60%
80%
100%80%
42%
74%
52%
66%
38%
58%
26%
47%
16%
Types of tech at homeGen WeMillennialsGen XBoomersMatures
© 2014 CEB. All rights reserved
Health
Health behaviors on the rise
Source: 2014 Iconoculture Values & Lifestyle Survey
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
We all think we’re pretty healthy, despite much evidence to the contrary. The good news is that some of our behavior is heading in a healthful direction. We report we’re exercising more, getting more sleep and trying to unplug from technology. At least we say we are…
% reporting activity to maintain health
2014% points change from
2010
Exercise 75% +5
Get enough sleep 68% +8
Unplug from tech 46% +5
Use skincare products
61% +8
Healthier eating
Source: 2014 Iconoculture Values & Lifestyle Survey
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
We’re moving away (slowly) from fast and empty calorie intake toward slower, experiential food. This includes a decline in empty calories from beverages, with monthly beverage consumption on the decline in several categories like juice, soda and pre-mixed coctails.
2014
Drink monthly% points change from
2010
Juice 70% -13
Regular soda 56% -7
Diet soda 40% -6
Premixed coctails 24% -12
Gen We and Millennials are more likely to drink juice and regular soda.
© 2014 CEB. All rights reserved
Transportation
Automobile ownership declining
Source: 2014 Iconoculture Values & Lifestyle Survey
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
It may not seem like much of a decline at first glance, but when thinking of the scale of the automotive industry, there is likely a lot of angst about the future. The one-year decline in automobile ownership among anyone under 40 is staggering. That’s good news for Uber and Lyft.
2013 20142 5 %
4 0 %
5 5 %
7 0 %
8 5 %
1 0 0 %93% 93%
89% 89%89%
85%
74%70%
31%27%
Automobile Ownership
MaturesBoomersGen XMillennialsGen We
Media
Our world is digital, open and multi-screen
Source: 2014 Iconoculture Values & Lifestyle Survey
A n n u a l Va l u e s & L i f e s t y l e S u r v e y
We don’t yet understand the full implications of a connected, open and sharing digital world. But we’re rapidly moving there and increasingly accepting of being tracked, receiving digital rather than physical media and multi-tasking.
Series1
0 % 2 5 % 5 0 % 7 5 % 1 0 0 % 1 2 5 %
53%
59%
40%
47%
41%
60% Prefer to multitaskPrefer to single-task
Worry about sharing Comfortable sharing
Prefer a digital copyPrefer a physical copy