Emerging adulthood

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Emerging adulthood

  1. 1. EMERGING ADULTHOODTuesday, 21 August 2012
  2. 2. AGENDA CONSUMER WHO, WHY, WHAT & HOW Life stage Characteristics Brand Moment of truth Emerging Adulthood What defines the life stage How brands should behave Opportunities to connect 01/07Tuesday, 21 August 2012
  3. 3. LIFE STAGE 18-25 Bought on by education, marriage & babies Deadline of age 30 Two thirds live with a partner at one time 40% move back home On third move every year They have an average of seven jobs, the most at any stage EMERGING ADULTHOOD What is it about 20-somethings? - Robin Marantz Henig. The New York Times. 18 August 2010 02/07Tuesday, 21 August 2012
  4. 4. CHARACTERISTICS DEFINING CHARACTERISTICS Think ʻshit my Dad saysʼ Identity exploration Instability Self Focus Feeling In-between A sense of possibility FLUIDITY Young Adults experiencing quarter life crisis - The Brotherhood of St Laurence Life Chance Study. TVNZ 31 July 2012 03/07Tuesday, 21 August 2012
  5. 5. brands opportunity Be yourself Adaptable/customizable Provide certainty Allow self creation Be in the moment (short term) Ask Why not? Embrace technology allow for change 04/07Tuesday, 21 August 2012
  6. 6. a word with students Ages 22-23 Graduated from University Top five most insightful findings: 1. They enjoy playing the ʻsystemʼ 2. Will punish inconsistent/random service 3. Expectations are high 4. Itʼs all about me. “Debt freaks me out too much to think about” 5. Graduation is more significant than orientation. “Everyone cuts you off after uni” ten emerging adults 05/07Tuesday, 21 August 2012
  7. 7. MOMENTS OF TRUTH Student life Not thinking long term: home More money than any time in ownership is not possible the past or immediate future Self focused & a fish out of water: Make me feel special Graduation Change is constant Thrown to the world. Cut off from all support home, friends, circumstances, Bank from childhood grades, finances, expectations November 17 18 22 23 30 May Start University Finish university Life stage deadline A time of excitement. A time of A time of celebration. A anxiety. Looking for certainty congratulations message/offer Still tied to Afraid and uncertain. parents, financially Make me feel valued & emotionally 06/07Tuesday, 21 August 2012
  8. 8. SUMMARY Communication: holistic & fluid but in customizable, relevant chunks But, creativity will make the difference: CONSUMERS WILL ACT WHEN A BRAND CREATES A SENSE OF POSSIBILITY. ʻFinancial knowledge doesnʼt change behaviour. ...need to appeal to intrinsic psychological attributes.ʼ - Financial capability. David De Meza. Behavioural Finance and Experimental Economics. London School of Economics. July 2008 emerging adultHOOD 07/07Tuesday, 21 August 2012

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