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4 Activities Among Young Men

4 Activities Among Young Men

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“Among the nation's 19 million men ages 16-to24, more than 1 million were not doing much of

anything when the Bureau of Labor Statistics

took a look at their activities in October 2015.”

Demo Memo, 5/13/16

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68.5 Purchasing Decision Making

Marketing to Men, a study by Jacobs Media (www.jacobsmedia.com), reported

that men and women share purchase decision-making for big ticket items as follows:













Sole decision maker:

Play a key role but share in decision:

Share decision equally:

Have some, but not primary, influence:

No role in decision:



Male



Female



24.4%

34.7%

36.7%

2.8%

0.5%



27.9%

27.8%

37.6%

4.8%

0.6%



A January 2016 survey by Crosstap (www.crosstap.com) asked Millennial men

who is the primary decision maker for family-related purchases in their household.

Responses were as follows:

• We try to share the decision making evenly:

53%

• I definitely am the decision maker:

25%

• My spouse is the decision maker:

23%

In a survey by Yahoo!, men reported that they had become more involved in

decision-making related to the following household purchases (percentage of

respondents):

• Consumer packaged goods:

60%

• Apparel:

54%

• Housewares and household goods:

54%

• Personal care products:

53%

• Baby and child care products:

50%

• Toys:

50%



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“As patterns of motherhood in the U.S. have

shifted, so have patterns of fatherhood – with

hyper-involved new dads getting much attention

even as fathers who do not live with their kids

at all have become common. Some aspects of

father behavior get disproportionate attention,

while others are neglected.”

eMarketer, 4/6/16

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PART XI: GENERATIONAL FOCUS



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• 386 •



69

GENERATIONAL COMPARISONS



69.1 Overview

Market researchers typically categorize adult consumers into four generations,

as follows:











Seniors (Silent Generation):

Baby Boomers:

Generation X:

Millennials (Gen Y):



Year of Birth



Age (in 2016)



1945 and before

1946-1964

1965-1979

1980-2000



71 and older

52-to-70

37-to-51

16-to-36



Youth, born 2001-present and ages 15 and younger in 2016, are categorized as

Generation Z.



69.2 Unique Characteristics

Pew Research Center (www.pewresearch.org) asked people of all ages what

makes their generation unique. Responses were as follows (percentage of

respondents):

Seniors

• Experienced World War II:

14%

• Experienced the Great Depression:

14%

• Smarter:

13%

• Honest:

12%

• Work ethic:

10%

• Values/morals:

10%

Baby Boomers

• Work ethic:

• Respectful:

• Values/morals:

• Largest generation:

• Smarter:



17%

14%

8%

6%

5%



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Generation X

• Technology:

• Work ethic:

• Conservative/traditional:

• Smarter:

• Respectful:



12%

11%

7%

6%

5%



Millennials

• Technology:

• Music and pop culture:

• Liberal/tolerant:

• Smarter:

• Clothes:



24%

11%

7%

6%

5%



69.3 Generational Self-Identification

A 2015 survey by Pew Research Group asked adults what descriptions applied

to their generation. Responses were as follows:

Millennial







































Compassionate:

Cynical:

Entrepreneurial:

Environmentally-conscious:

Greedy:

Hard-working:

Idealistic:

Moral:

Patriotic:

Politically active:

Religious:

Responsible:

Self-reliant:

Self absorbed:

Tolerant:

Wasteful:

Willing to sacrifice:



27%

31%

35%

40%

43%

36%

39%

17%

12%

17%

12%

24%

27%

59%

33%

49%

15%



Gen X



33%

24%

33%

37%

24%

54%

28%

27%

26%

20%

21%

43%

37%

30%

33%

29%

27%



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Boomers



47%

16%

35%

41%

19%

77%

31%

46%

52%

37%

42%

66%

51%

20%

38%

20%

45%



Seniors



60%

7%

32%

40%

8%

83%

26%

64%

77%

42%

63%

78%

65%

7%

36%

10%

61%



70

SENIOR CONSUMERS



70.1 Profile

Those born before 1946 have been tagged with various monikers, the most

common being simply ‘Seniors.’ The youngest Seniors turned 71 in 2016.

The Senior generation is also frequently dubbed the ‘Silent Generation,’ a name

coined by Time magazine in 1951, which described the generation as “working fairly

hard and saying almost nothing.”

Census 2010 counted 40.27 million Americans ages 65 or older, representing

13.0% of the population. The Senior population increased 15.1% from Census 2000,

when 34.99 million people in that age demographic represented 12.4% of the

population.

The U.S. Census Bureau (www.census.gov) estimated the year-end 2015

Senior population at 29.19 million.



70.2 Daily Activities

According to Pew Research Center’s Social & Demographic Trends Project

(www.pewsocialtrends.org), daily activities among those ages 65 or older are as follows

(percentage of respondents):

• Talk with family or friends:

90%

• Read a book, magazine, or newspaper:

83%

• Take a prescription medication:

83%

• Watch one hour or more of television:

77%

• Pray:

76%

• Drive a car:

65%

• Spend time on a hobby:

43%

• Take a nap:

40%

• Go shopping:

39%

• Use the Internet:

28%

• Get some type of vigorous exercise:

22%











Seniors say the benefits of growing older include the following:

More time with family:

70%

Not working:

66%

More times for hobbies/interests:

65%



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More financial security:

Less stress:

More respect:

More travel:

Volunteer work:

Second career:



64%

59%

59%

52%

52%

14%



70.3 Living Arrangements

Seniors’ living arrangements are as follows:









Own home or apartment:

Child’s/family member’s home:

Assisted living facility:



65-74



75-84



85+



All



95%

2%

2%



90%

4%

4%



80%

5%

15%



92%

3%

4%



Characteristics among those living independently are as follows:







Live in age-restricted community:

Live alone:



65-74



75-84



85+



All



6%

30%



11%

47%



20%

66%



10%

41%



Aging in America, by Prince Market Research (www.pmresearch.com), reports

that 89% of Seniors feel that the ability to live independently and remain in their home is

very important. More than half (53%), however, are concerned with their ability to do

so. Seniors cited three primary concerns that could jeopardize their ability to live

independently: health problems (53%), memory problems (26%), and the inability to

drive/get around (23%).

The majority of Seniors (55%) view themselves as very independent in that they

receive no assistance from their children – and seem content with that fact; 75% said

their children are involved enough in their life. Seniors who do require help from others

receive assistance with household maintenance (20%), transportation (13%), and

healthcare (8%). Only 1% reported receiving any financial support.

According to Pew Research Center’s Social & Demographic Trends Project, 63%

of those ages 65 or older feel they are in excellent or good health. For those living in

the west, that figure rises to 72%.

By region, those that say they don’t feel old are as follows:

• West:

79%

• Northeast:

72%

• South:

71%

• Midwest:

66%



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_________________________________________________________________



“If a latter-day Ponce de Leon were to search for a

modern fountain of youth, he’d do well to explore

America’s West. There he’d find the highest

concentration of older adults in the United States

who don’t think of themselves as old.”

Pew Research Center

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70.4 Working Seniors

The 2015 Current Population Survey, by the Census Bureau, reported 11% of

females and 15% of males over age 65 work full time. By education, those that do so

are as follows:

• No high school diploma:

8%

• High school graduate:

13%

• Some college:

15%

• Associate’s degree:

14%

• Bachelor’s degree:

21%

• Master’s degree:

17%

• Doctoral degree:

28%

• Professional degree:

33%



70.5 Buying Power

Recent data by the Federal Reserve show elderly Americans to be among the

wealthiest, with people 75 and older showing a median family net worth of almost

$195,000 in constant 2013 dollars, up f rom $131,000 from 1989. This group’s

prosperity today comes from prime years of working – plus investing and saving –

during a period when the economy consistently grew an average 3.5% a year – the

period between 1962 and 1991. More than anything, however, this group benefitted

from ownership of homes and investments that have soared in value.

Based on spending patterns, researchers for the Bureau of Labor Statistics

(www.bls.gov) segment Seniors as follows:

• Basic Need-Meeters (26.9%): The largest and poorest cluster, this segment had an

average income of $33,147 and spent just $23,679. Because of their limited

resources, Basic Need-Meeters must devote the largest share of their spending to

essentials – 43%.



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Housing Burdened (25.9%): 78% of households in this cluster are still making

mortgage payments, compared with only 23% to 34% of households in other

clusters. Consequently, the Housing Burdened devote the largest share of their

budget to mortgage (rent) – 42% of their spending vs only 5% to 17% among other

clusters.

Healthcare Burdened (21.1%): The second-poorest cluster, this group is defined by

its outsized out-of-pocket healthcare spending – or 27% of its $29,818 overall

spending. Other groups devote only 10% to 12% of their spending to healthcare.

Transportation Burdened (12.1%): Although this group spent an average $44,245, it

had to devote a hefty 33% of that spending to transportation. Fully, 60% of this

group live in smaller cities of the South and Midwest.

Happy Retirees (6.3%): This is the richest group, with average annual spending of

$54,813. They devote 31% of their budget to “expendables” like entertainment,

travel and household operations.

Balanced Budgeters (5.4%): This group is almost as affluent as Happy Retirees, but

it spends less ($47,920 vs $54,813). An average amount of their spending is

devoted to various budget items, which is why they are considered “balanced.”



70.6 Financial Challenges

Twelve percent (12%) of seniors run out of money before they die. A Look At

The End-of-Life Financial Situation in America, by the Employee Benefit Research

Institute (www.ebri.org), reports the percentages of seniors, by age, that run out of

money as follows:

Households With Non-Housing Assets

= Zero Before Death











65 to 74:

75 to 84:

85 and older:



Households With Total Assets

= Zero Before Death



25.3%

18.5%

20.6%



15.8%

10.5%

12.2%



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“How many of the oldest Americans run out of

money before they die? One in eight, according

to a study by the EBRI.”

Demo Memo, 5/5/15

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70.7 Media Activities

According to the Pew Internet & American Life Project (www.pewinternet.org),



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53% of Seniors use the Internet. Once online, the Internet becom es a part of daily life

for the majority of Seniors.

Overall, 82% of all adult Internet users go online on an average day. Among

adults age 65 and older, 70% use the Internet on a typical day.

Focalyst (www.focalyst.com) provides the following assessment of online Seniors

and, for comparison, those that do not go online:













Annual household income:

Average monthly household expenditures:

Married/partnered:

Employed:

Attended college:



Internet Users



Not Online



$55,000

$ 1,754

70%

26%

75%



$27,000

$ 1,059

48%

13%

42%



Pew Research Center found similar usage among Seniors based on income,

reporting that Internet usage among Seniors with an annual household income of

$75,000 or more tops 90%, with 82% using broadband at home. For Seniors earning

less than $30,000 annually, 39% go online and 25% have broadband at home.

The Cable & Telecommunications Association for Marketing (www.ctam.org)

reports the following activities among online Seniors:

• Use email:

94%

• Shop online:

77%

• Access health and medical information:

71%

• Read news:

70%

• Manage finances and banking:

59%

• Play free online games:

47%

According to Pew Research Center, Senior ownership of media and technology

devices is as follows:

• Cellphone:

69%

• Desktop:

48%

• Laptop:

32%

• eReader:

11%

• Tablet:

8%



70.8 Trends

Although Seniors haven’t adopted technology as rapidly as other demographics,

several new innovations are being tailored specifically for this group. One such is

Lively, a monitoring system enabled with sensors to detect unusual patterns, like

skipped medication or missed meals. Oscar Tech has designed a pair of apps that are

Senior-user-friendly and designed to keep a Senior connected remotely to another

party. True Link Financial is a company offering a debit card that a caregiver can

monitor for unusual activity.



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The sector is buoyed by various startups and groups like Aging2.0

(www.aging2.com), a global organization on a mission to accelerate innovation to

improve the lives of older adults around the world.

In addition to the growth in products and services designed to help Seniors stay

in their homes, developers are designing and planning modern communities specifically

for Seniors. These new Senior-centric concepts will blend housing, social and

networking in one community.



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