Give a description of “back to school spending” maybe with pictures instead of words.
College StudentsTOMMY CONFAR
STUDENT POPULATION 2011-2012 collegiate population ages 18- to-34 numbers approximately 16 million Economic times have brought more adults to institutions of higher education to allow them to be prepared for career adjustments 62% of college students are age 24 or under, 22% of college students are under the age of 20
LIVING 52.9% of college students live at home 24.7% of college students live off-campus 18.1% of college students live in a dormitory 3.8% of college students live in a fraternity or sorority house
STUDY ABROAD AND FOREIGN 260,000 U.S. students study abroad There are approximately 690,000 foreign exchange students in the U.S. Thisadds about 20 billion dollars into our economy
SPENDING College students ages 18-to-34 spent $306 billion during the 2010-2011 academic year That is a 13% increase from the prior year Of that $306 billion, $69 billion was discretionary spending $37.7 billion for students ages 18-to-24
SPENDING Male students ages 18-to-34 spend more for entertainment and technology on a monthly basis Female students ages 18-to-34 spend slightly more on clothing and shoes, cosmetics, and cell-phone purchases Male students spend slightly more than females on personal care products Spending for entertainment, eating out, bars and nightclubs remained steady or increased from 2010
NON-TRADITIONAL STUDENT Not followed a continuous education path into college Over 24 years of age Working full time Having dependents to support Attend college part time 73% of all students have some characteristics of the non-traditional student They have different desires and needs from their traditional counterparts on campus Non-traditional students are growing in population Disadvantaged to traditional students
STRESS Anxiety, uncertainty, and stress are included in any students career Stress emerged as an important variable with relationships to grade point average (GPA) and intent to persist along with goal commitment Unlike traditional students, non-traditional students have responsibilities related to their work and personal lives that may lead to demand overload and role conflict when merged with school. These additional demands and responsibilities can create time limitations that traditional students are not apt to experience Combining a degree with employment can have negative consequences with students missing classes, doing less reading, and experiencing higher levels of stress Students with families tend to have higher stress levels These students with more time management behaviors considered themselves to be more effective at work, had higher levels of moral and lower levels of stress (usually a traditional student) Traditional students, because they are less mature, experience stress from academic and social concerns
DRINKING Binge drinking is the consumption of five or more alcoholic beverages at one sitting by men and four or more drinks at a single sitting by women In studying student drinking, it has been found that the root causes of excessive drinking revolve around depression, anxiety, peer pressure, and the desire for social acceptance 40% of college students engage in high-risk drinking
ONLINE/DEVICES Staying “connected” and easily reachable is important for college students
ONLINE 77.6% of college students use social networking sites Facebook, Twitter, LinkedIn, etc.. 18% of students who go online have a Twitter Around 85% of all college students have a Facebook account
T.V. College student favorites include “Grey’s Anatomy” and “The Office” T.V. shows and stations are trying to be relevant and popular on social media platforms The youth is a target consumer who might tweet about a show they just watched or post a clip from a show they liked on their Facebook This gains exposure for the T.V. station and show
MISC. TRENDS E book readers Small percentage but growing Mainly used for recreational and class readings The kindle is the top in its market Voting percentages in youth has dropped to 11% in the 2010 midterm elections, from 18% in 2008’s election Democrats are down to 57% from the previous 66% in 2008 College student decline in politics is because the student body feels the “change” promised in 2008 never happened Smaller schools that focus more on teaching than relying on research outside of the class Student satisfaction surveys show more students are happy with more time spent in class and with the teacher. Out of class research intensive schools did not show high results in student satisfaction. Students that live on campus or in on campus housing are more satisfied with their college experience than those who commute or live off campus. This relates to being closer to classmates and making more connections with other students and faculty
TRENDS OVER THE LAST 15 YRS What students valued 15 years ago are the same things they value currently. The items of greatest importance to students continue to reflect an emphasis on the students’ academic experience. Satisfaction levels have risen overall at four-year privates, four-year publics, and community colleges, but have fluctuated at career schools. Despite the changes to higher education, socioeconomic shifts in students, and the media’s focus on higher tuition, students generally indicate that they are more satisfied now than they were in the past. Financial aid has increased in importance in the enrollment decisions for students at four-year privates, four-year publics, and community colleges; school appearance and geographic setting have become more important for students attending career schools. Students today put a greater emphasis on financial aid awards as they decide which institution to attend. This has been a common trend at four-year private institutions, but financial aid has also seen a large jump in importance at four-year and two-year public schools. While financial aid is also a factor for career schools, the biggest shifts have occurred in the emphasis on the school appearance and the location of the college. While students are generally more satisfied now in all of these areas (tuition as a worthwhile investment, their attitudes toward billing policies, and their perceptions about the availability of and resources for financial aid services), the improvements vary by institution type. In addition, the satisfaction scores are currently hovering at or below 50 percent of students indicating that they are actually satisfied with their institution’s performance, which indicates that there is still room for improvement in this area. The importance and satisfaction shifts in campus climate items. A 2009 study, Linking Student Satisfaction and Retention, indicated a strong correlation between campus climate items and students’ overall satisfaction and likelihood to be retained. These areas include how students feel on campus, campus staff being caring, the sense of campus “run-around,” and feeling safe and secure on campus. As institutions focused more on quality service initiatives during the past 15 years, some of these items had some of the largest improvements in satisfaction across all types of institutions.
WHY? One should market to college students because College students use social media to talk about brands and services they enjoy. (online word-of-mouth) The students that don’t live with their parents are begging to shop on their own. They can be branded for life with a product they begin to like. There are 16 million college students in America. (big market) College students have high spending habits. (back to school buying, food purchases, drinking purchases, electronic purchases, etc) College students are current and knowledgeable about upcoming trends and using the latest technology.