Here’s a startling statistic. By 2042, Baby Boomers are poised to hand over as much as $70 trillion in inheritance to their heirs, and Millennials are the lucky demographic most likely to clean up. Boomers, affectionately named after the “boom” of babies born after World War 2, were the first generation in America to grow up in a prosperous middle class. Before the 1940s, luxuries like homeownership and vehicle ownership were reserved for the upper class. But between 1940 and 1960, four-fifths of American families owned at least one car, and homeownership increased to 61%.
The online sample market was thrust into the spotlight late this year with two big announcements. Cint acquired Lucid for a whopping $1.1 billion, and Zendesk acquired Momentive Global (Survey Monkey) in a $4 billion deal. These two acquisitions underscore the growing popularity of research technology and validate the value of data insights. This is a win for all parties involved, including online sample providers like ThinkNow, who have delivered quality sample and multicultural consumer insights for the past ten years.
Sandwiched between silver sneakered Boomers and digitally savvy Millennials, Gen X gets lost on the consumer continuum, only to be upended again by youth, as Gen Z becomes the next media darling. Described as the “ignored generation,” Gen Xers, born between 1960 and 1982, are often accused of contributing less to culture and society. But is that true?
Every year around this time, we celebrate the culture, traditions, and contributions of Hispanic Americans. Hispanic Heritage Month is celebrated from September 15th through October 15th. This year, we take this opportunity to highlight the size of this demographic and predict changes on the horizon. But first, the data. Based on the 2020 Census, Hispanics now account for 18% of the U.S. population.
Just as the market research industry began returning to normal, COVID-19 made a comeback as a new variant called “Delta.” As a result, Florida, Texas, Arkansas, and several other states are struggling with high infection rates, delaying workers’ return to the office or requiring them to work remotely. Google, for example, is giving employees the option to work from home, although they could experience pay cuts.
After 18 months of virtual interactions due to COVID-19, market researchers and industry insiders reconnected in-person this month in sunny Pasadena, California, for SampleCon 2021. Held at the luxurious resort, “The Langham,” it was the best way to bring the conference back and regain a sense of normalcy. Key Takeaways from SampleCon From day one, you could hear and feel the excitement of new trends in the online sample industry. The consensus – business is good.
If passenger volume at airports across America is any indication, domestic travel in the U.S. is rebounding from the pandemic, a hopeful sign that COVID-19 is in our rearview. But it’s not just air travel that winks at a return to normalcy. Millions of Americans are vaccinated, and the majority of states have lifted restrictions. Madison Square Garden, for example, experienced its first sold out concert since the onset of the pandemic when the Foo Fighters took to the stage on June 20th to play for vaccinated fans, an impressive feat considering New York’s struggle to contain the virus in 2020. Other industries are powering back as well, like the online sample industry.
After months of uncertainty, many Americans are cautiously optimistic about saying farewell to COVID-19. Mask mandates have either expired or are set to expire soon, and vaccines are available to anyone ages 12 and older who wants one. Slowly, the country is starting to awaken, and with it, sample companies are assessing where we go from here. For 15 months, the online sample industry adapted its business strategy to the pandemic reality. Traditional in-person focus groups shifted online, and online surveys were the gold standard.
The concept of “do-it-yourself” may bring to mind images of re-tiling the bathroom floor or reseeding the lawn. But DIY goes far beyond home improvement projects. About five years ago, online do-it-yourself sample tools began trending. Sample companies would create these tools for clients at little to no charge to facilitate sample buying. However, it wasn’t long before clients realized, like many of us who’ve tried to tile a floor, it may look easy, but looks can be deceiving.
A few years ago, the concept of autonomous vehicles captivated consumers. While the technology has progressed tremendously, most self-driving experiences are still limited to driver assistance, partial automation, or conditional automation. Innovation develops over time. Compare that to the emergence of mobile sample. Ten years ago, it was the most significant innovation in the online sample industry. Mobile sample was discussed in every conference from 2010 to 2016. Despite the buzz, however, mobile sample didn’t immediately catch on. The technology existed, but brands resisted the change in survey methodology. But that started to change in 2017.