Millennials are so yesterday. That’s the growing sentiment among brands as they make the shift away from the once-coveted Millennial consumer to now court the new generation in town, Gen Z, or the “iGeneration.” The oldest Gen Zers are now entering adulthood and look very different than their Millennial counterparts. They are the country’s most racially and ethnically diverse generation ever. Additionally, they are on their way to becoming the best-educated generation, according to a Pew Research Center report.
As the reality of being quarantined here on the west coast starts to settle in, we decided to process the unprecedented COVID-19 pandemic as any good market researcher would – with research. ThinkNow conducted a nationwide online survey of 500 American adults during the week of March 6-11, 2020. The sample was stratified with respect to race/ethnicity, age, gender, and US region per Census benchmarks.
U.S. consumers are bracing for a polarizing year in politics. From impeachment proceedings to the presidential election, emotions are high, but unemployment is low, and that appears to be the economy’s saving grace as we head into 2020. Now in its fifth year, our annual consumer sentiment report, ThinkNow Pulse™, provides insight into how Americans feel about the state of the economy, its impact on their household income, and how the political climate influences their economic outlook. We compared this year’s data with past years and found interesting shifts in sentiment among key demographics.
This year was chock-full of defining moments. From ongoing trade disputes with China and political unrest, to legalized marijuana and online privacy concerns. In our final report of the year, 2019 Defining Moments: Insights Into Culture and Authenticity™, we highlight trends in consumer sentiment, purchase behavior, and digital media use, and explore the impact culture has on these trends. We’ve combined these insights into a brief narrative of Total Market consumer behavior over the last twelve months and marketing predictions for 2020.
In July of 2019, Illinois became the 11th state to allow the adult use of recreational marijuana. Its state legislature is the first to legalize selling the drug. Marijuana remains illegal at the federal level, for now. But that hasn’t stopped blue-chip consumer packaged goods (CPG) companies from exploring cannabis-based products as many believe that federal legalization in the U.S. is only a few votes away.
It’s true. Within just three years, linear TV has lost nearly half its viewers. What factors are driving the shift, and how can marketers adapt to — and profit from — the changes? Our nationwide survey of consumers’ media consumption habits on platforms such as live TV, streaming services, gaming, and social media produced several useful insights. Viewers are “Streaming” to Quality Content Despite losing subscribers for the first time in eight years — and no doubt aided by the drastic decline of live television — Netflix remains the preferred method (61%) for watching TV programs among U.S. consumers, followed closely by YouTube.
In this new age of social media, traditional market research has taken a beating. Influencers like serial entrepreneur Gary Vaynerchuk (Gary Vee) extol the importance of getting out and talking to their customers personally while countless memes of Steve Jobs’ quip against market research “customers don’t know what they want until we’ve shown them,” are shared endlessly online. To some extent, they have a point. Gary Vee’s “back to basics” approach of getting out in the real world and speaking to consumers makes sense. Technology has made it so easy to hide behind our screens that, just like the Wizard of Oz, we tell our customers what we want without giving them a chance to get to know the person behind the curtain. Nor can we get to know them.
- African-American Market Research, Asian-American Market Research, Blog, Consumer Sentiment, Hispanic Market Research, Integrated Market Research, Multicultural Consumers, Online Market Research, Total Market ResearchView Cart
Despite losing subscribers for the first time in the past eight years, Netflix is still the preferred method used for watching TV programs among U.S. consumers, followed closely by YouTube. Preferred by 61% of consumers for the past two years, the streaming giant’s dominance hasn’t been marked so much by growth as it has been by the drastic decline of Live TV across 2017, 2018, and 2019. In a matter of 3 years, linear television went from 68% in viewership down to 36%.
Last month, Illinois became the 11th state to allow the adult use of recreational marijuana and the first state legislature to legalize selling it. The legal distribution of marijuana at the state level has prompted many blue-chip companies to explore cannabis-based products. So, who are the early players?
Last month, Illinois became the 11th state to allow the adult use of recreational marijuana. Its state legislature is the first to legalize selling the drug. Marijuana remains illegal at the federal level, for now. But that hasn’t stopped blue chip companies from exploring cannabis-based products as many believe that federal legalization in the U.S. is only a few votes away.