Young People's Consumer Confidence Index - Developed and Growth Markets
by On Device Research on Oct 08, 2012
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By collecting data from key markets we help businesses understand what young people think about their current and future economic prospects. ...
By collecting data from key markets we help businesses understand what young people think about their current and future economic prospects.
By using a select group of growth and developed markets, it allows for a comparison of youth confidence in different economies. It also gives businesses looking to develop in growth markets, a good indication of the current and future health of the economy.
The YPPC will be repeated regularly so trends can be tracked over time.
Overall young consumers in growth markets are at least twice as confident, compared to those in developed markets. Confidence is being driven in growth markets by a very positive outlook for the economy and future job prospects.
Young consumers in growth markets haven’t been jaded by a hard hitting recession that those in developed markets have, and there is a serious risk of young people in developing nations becoming the ‘lost generation’.
Growth markets optimisms towards their economy, transfers into views on buying large purchases and provides a fantastic opportunity for UK and US companies looking to export into these markets.
However when exporting to growth markets, companies must understand the different business practices, regulations, infrastructure, cultural differences and population makeup - in Nigeria 60% of the population is under 25, which impacts product demand.
What is clear, is that the mobile device is very important in the lives of young consumers all over the world, which will be reflected in not only how we research these consumers, but also how marketers communicate and transact with them.
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