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Young People’s Consumer Confidence Index
 

Young People’s Consumer Confidence Index

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Facebook costing 16-34s jobs in tough economic climate ...

Facebook costing 16-34s jobs in tough economic climate

One in ten young people have been rejected for a job because of their social media profile

We have just finished the third wave of our young people’s consumer confidence (YPCC) index, which is designed to help businesses understand what young people (16-34) think about their current and future economic and employment prospects, in both developed and growth markets.

The index covers 6000 16-34 year olds across six countries and revealed some surprising results.

Impact of social media on careers

If getting a job wasn’t hard enough in this tough economic climate the survey revealed that one in ten young people have been rejected for a job because of their social media profile.

Yet worryingly the majority (two-thirds) are not concerned that their use of social media now may harm their future career prospects and are not deterred from using it.

They are also more likely to have altered their social media profile to look good to their friends, as opposed to prospective employers.

Better education of the impact of social media is needed, to ensure young people are not making it even harder for themselves to get on the career ladder.

Consumer confidence

At the top line level consumer confidence levels amongst young people in growth markets are twice as high as the UK and US.

Young Chinese and Nigerian consumers have the overall highest confidence levels, indexing at 39, followed closely by Brazil (37) then India (37). In comparison, Britons index at just 16 and the US at 19.

Future employment
Confidence in growth markets is fuelled by optimism about their future employment prospects, with 88% firmly believing they will get a better education than their parent’s vs their counterparts in developed markets (64%). They are also more confident about earning a higher salary (89%) where as young people in developed markets are less certain (60%).

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    Young People’s Consumer Confidence Index Young People’s Consumer Confidence Index Presentation Transcript

    • Young People’s Consumer Confidence IndexGrowth & Developed MarketsMay 2013
    • SummaryYoung people’s consumer confidence• Young people in growth markets are at least twice as confident, compared to those in developed markets. Althoughsomeway behind their counterparts across the world, young people in the US & UK are showing signs of increasedconfidence.• Confidence in growth markets is being fuelled by a positiveness about their future, they are especially confident abouttheir future employment prospects (66 v 33).• They firmly believe they will get a better education than their parents (88%) vs their counterparts in developed markets(64%). They also believe they will earn a better salary than their parents (89%) where as young people in developedmarkets are less confident (60%).Social media impact• If getting a job wasn’t hard enough in this tough economic climate, one in ten young people have been rejected from ajob because of their social media profile.• Yet worryingly the majority (two-thirds) are not concerned that their use of social media now, may harm their futurecareer prospects and are not deterred from using it.• They are also more likely to have altered their social media profile to look good to their friends, as opposed toprospective employers. Better education of the impact of social media is needed, to ensure young people are notmaking it even harder for themselves to get on the career ladder.
    • Generation jobless - around the world almost 300m 15 to 24s are notworking or studying, which is almost a quarter of the planet’s youth!Source: Economist April 2013Young people have long had a raw deal in thelabour market. Firstly the financial crisis and itsaftermath had an unusually big effect on them.Secondly, the emerging economies with thelargest and fastest-growing populations of youngpeople also have the worst-run labour markets.It is hard to be optimistic about a problem that isblighting the lives of so many, however it isperhaps time to be a bit less pessimistic.Policymakers know what they need to do to ignitegrowth e.g build bridges between education andwork. Countries that make investments to tackleunemployment head on, have the ability to makedramatic improvements.
    • Young People’s Consumer Confidence Index (YPCC)Why carry out an index? By collecting data from key markets we can help businessesunderstand what young people (16-34s) around the world think about their current and futureeconomic prospects, and data can be trended over time. It also gives businesses looking todevelop in growth markets, a good indication of the current and future health of the economy.Index Score is calculated using the mean scores of six key questions:1. How do you expect your employment situation/prospects to change over the next 12 months?2. How do you expect the general economic situation in this country to change over the next 12 months?3. How are you feeling about your current employment situation/prospects?4. In view of the economy, is now the right time to buy big purchases?5. How are you feeling about your current personal/household financial situation?6. Overall how are you feeling about the economy?Results are repeated every quarter, sign up to our newsletter for future releases.Interested in carrying out your own mobile research?Contact us info@ondeviceresearch.com +44(0)207 278 2267
    • Methodology• 6000 mobile users (aged 16-34) completeda survey via the mobile Internet – samplematched to gender and regional quotas.• Additional questions were asked from alarger sample size of 17, 657 (aged 16-34)about social media.• Study covers China, India, Nigeria, Brazil &the UK and US.• Data is trended to compare the results fromthe Aug 2012 index study.The discrepancy between mobile and desktop Internet penetration meansmobile is the only way to research a growth market
    • Young people in growth markets are at least 2x as confident,compared to those in developed markets. However young people inthe US & UK are showing signs of increased confidence.38 393237101637 39 37 3916 190102030405060708090100Brazil China India Nigeria UK USYPCC Index ScoreAug-12 May-13Source: On Device Research YPCCBrazil, China, India, Nigeria, US,UKn = 12,000 , Age 16-34 , Aug 2012 - May 2013Index score is calculated using the mean score of six key questions
    • What’s driving this confidence?
    • 198733557740 20 40 60 80How do you expect the general economicsituation in this country to change overthe next 12 months?Brazil China India Nigeria UK USMean soreSource: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 6000 Age 16-34May 2013Young people in developed markets have a very positive outlook for future economicgrowth in their country and this impacts their confidence scores. Young Britons are 8x lessconfident than growth markets (8 vs. 60) about how the general economic situation willchange in the UK in next year.Get a lot betterGet a lot worse
    • When asked about their future employment prospects, young people in growth marketsare also significantly more confident (66 v 33). On a positive note young people in the UKare 7x more confident about their future employment situation than 9 months ago (4 vs.27) but they are still some way behind their counterparts across the world.38 (+28)27 (+23)78 (+10)46 (+10)61 (+8)79 (+7*)0 10 20 30 40 50 60 70 80 90How do you expect your employmentsituation/prospects to change over thenext 12 months?How do you expect your employmentsituation/prospects to change over thenext 12 months?Brazil China India Nigeria UK USMean soreMay 2013Aug 2012Source: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 6000 Age 16-34May 2013*difference in mean score vs Aug 2012Get a lot betterGet a lot worse
    • On average 88% of young people in developing countries firmly believethey will get a higher education qualification than their parents, those indeveloped markets are less sure scoring 24ppts lower at 64%.63% 89%65% 85%96%80%Do you expect to get a higher education qualificationthan your parents?YESSource: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 17657 Age 16-34May 2013
    • YES56% (UK)65% (US)96% (Nigeria)78% (India)91% (Brazil)91% (China)NO21% (UK)17% (US)2% (Nigeria)9% (India)4% (Brazil)6% (China)Do you expect to get a better paid job than your parents?Young people in developing countries believe they have better career prospectsthan previous generations & are nearly a third more confident about getting abetter paid job than their parents vs young people in the UK &US (89% vs 60%).
    • Young people in growth markets also expect that it’s more likely theywill need to relocate to get a job.Do you expect that you will need to relocate to get a job?YES35% 37%37% 45%69%52%Source: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 17657 Age 16-34May 2013
    • Social media impact on young people’s careers
    • Have you ever been rejected for a job because of comments or pictures on youronline/social media profile?YES9%6%8%7%8%5%10%7%4%5%16%14%0%2%4%6%8%10%12%14%16%18%16-24 25-34UK US Nigeria India Brazil ChinaOne in ten young people have been rejected for a job because oftheir social media profile, this figure is higher in China.Source: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 20225 Age 16-34May 2013
    • Yet the majority, nearly two thirds are not concerned that their use of socialmedia now, may harm their future career prospects. Young people in growthmarkets are slightly more concerned about the impact of social media.71% 70%63% 63% 63%49%UK US China India Nigeria Brazil% of 16-34s who said noAre you concerned that your use of social media now, may harmyour future career prospects?Source: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 17657 Age 16-34May 2013
    • It also does not deter the 16-34 age group from using socialmedia, even though it may harm their future career.68% 66%61% 60%77%58%17% 17% 19% 20%11%29%UK US China India Brazil NigeriaNo YesDoes the possibility of social media impacting your future career,deter you from using it?Source: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 17657 Age 16-34May 2013
    • Have altered online/social media presence17% 27%18% 47%54%32%Source: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 17657 Age 16-34May 2013To lookgood tofriends16% 15%19% 38%41%26%To lookgood toprospectiveemployers16-34s are more likely to have altered their social media presenceto look good to their friends, rather then prospective employers.
    • 72% 40% 40% 11% 5% 8%69% 41% 32% 11% 12% 6%82% 38% 30% 19% 4% 5%85% 9% 24% 4% 1% 4%73% 6% 4% 1% 0% 1%They own a mixture of social media accounts but predominantlyFacebook is the most popular platform.OwnwebsiteSource: On Device Research YPCCBrazil, China, India, Nigeria, US, UKn = 17657 Age 16-34May 2013
    • YES9% (UK)9% (US)19% (India)23% (Brazil)27% (China)YES11% (UK)11% (US)14% (India)25% (Brazil)27% (China)Would you pay to usesocial media?Would you pay to have your socialmedia profile enhanced? e.g connectwith a celebrityHowever popular social media is, the majority would not pay touse it or to connect with celebrities.
    • SummaryYoung people’s consumer confidence• Young people in growth markets are at least twice as confident, compared to those in developed markets. Althoughsomeway behind their counterparts across the world, young people in the US & UK are showing signs of increasedconfidence.• Confidence in growth markets is being fuelled by a positiveness about their future, they are especially confident abouttheir future employment prospects (66 v 33).• They firmly believe they will get a better education than their parents (88%) vs their counterparts in developed markets(64%). They also believe they will earn a better salary than their parents (89%) where as young people in developedmarkets are less confident (60%).Social media impact• If getting a job wasn’t hard enough in this tough economic climate, one in ten young people have been rejected from ajob because of their social media profile.• Yet worryingly the majority (two-thirds) are not concerned that their use of social media now, may harm their futurecareer prospects and are not deterred from using it.• They are also more likely to have altered their social media profile to look good to their friends, as opposed toprospective employers. Better education of the impact of social media is needed, to ensure young people are notmaking it even harder for themselves to get on the career ladder.
    • Sarah Quinnsarah@ondeviceresearch.com+44 (0)207 278 6627www.ondeviceresearch.com@ondeviceFollow us on Slideshare
    • Sign up to our newsletter to receive the next wave of YPCC data &analysis. Interested in carrying out your own mobile research?Contact us info@ondeviceresearch.com +44(0)207 278 2267