millennials 12.0: holiday spending study
DESCRIPTION
Buzz Marketing Group's TWELFTH WAVE of our annual report profiling 20somethings. This month, we discuss Millennials and Holiday Spending.TRANSCRIPT
Th e twe lf th wa ve o f a n e w a n n ua l r e p o r t p r o f ili n g th e s e u p a nd c o m i ng Mille n n ia ls.
Buzz on Holiday Spending
Study 12.0
9000 buzzSpotters®
male 37%
female 63% 61
1 Par tic ipa n ts
Who was Involved?
/ buzzmg.com
611 members of our buzzSpotter® network participated in th is survey.
This network is used as a resource for ethnographies, focus groups, personal
interviews, immersion experiences, surveys, and polls.
Overall, this panel is composed of trend influencers and represent all of the “tribes” we have identified, which
include: independents, preppies, techies and alternatives.
Launched 10.29
.12
1,237 attempts
Fielded online
Closed 11.02.12
The majority of participants are from these states.
STATS BY STATE AND PERCENTAGE >>>
location
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AZ 2%
CA 11%
FL 4%
GA 4%
IL 9%
IN 2%
MD 2% MA
4% MI 3% MN
2% MO 2%
NJ 6%
NY 13%
NC 3%
OH 5%
OR 3%
PA 5%
SC 2%
TX 4%
Rest of the USA 14%
The respondents ranged in age from 18 – 35 years old.
AGE
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31-‐35
27-‐30
23-‐26
18-‐22
26%
21%
31%
22%
White 69%
Black 18%
Asian American 3%
Hispanic 8%
American Indian 1%
Other 1%
ethnicity
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Relationship Status
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Single 13%
DaUng 2%
In a relaUonship
8%
Married 68%
Divorced 9%
Education
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High school diploma 26%
Associates Degree 21%
Bachelors Degree 36%
Masters Degree 12%
Ph.D 1%
None of the Above 4%
Working full-‐Ume
Working part-‐Ume
Unemployed Self-‐employed Other A student A student-‐worker
54%
15% 11% 8% 6% 4% 2%
employment
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Household income
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45% of our Millennials fall
between
the national average h ouseh o ld
income of $33,000 and $82,000
Less than $8,000
$8,000 -‐ $33,000
$33,000-‐ $82,000
$82,000 -‐ $170,000
$170,000 -‐ $370,000
More than $370,000
I don't want to specify
1% 13%
45%
33%
5% 1% 2%
Myself My Child(ren) My Friends My Parent(s) Other
92%
54% 44%
22% 21%
Who do you shop with?
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When will you begin Holiday
shopping?
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November I shop all year long for holiday gias...
Black Friday
October 2 Weeks before
Christmas
Before October
Halloween Last minute
39%
18%
14% 13%
7% 5% 4%
1%
Once 5%
Twice 2%
Three Umes 8%
Four Umes 6%
Five Umes 3%
As many Umes as I need to 76%
How many times will You go shopping?
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How will the economy
impact your spending?
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I will try to reuse last year's items
I will not be impacted by the economy this year
I will buy more store brand/generic products
I will spend less overall and I will use more coupons
I will do more online shopping
I will do more comparaUve shopping online
I will look for more sales
8%
16%
17%
32%
47%
56%
72%
How much do you plan to spend this
year?
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$0 -‐ $200 $200 -‐ $400 $400 -‐ $600 $600 -‐ $800 $800 -‐ $1,000
$1,000 -‐ $1,200
More than $1,200
8%
19% 22%
14% 14%
9%
15%
more than last year 21%
the same amount as last year 53%
less than last year 26%
Do you plan to spend more or less than last
year?
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Debit Card 44%
Credit Card 33%
Cash 23%
How do you plan to pay for your purchases this
year?
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Yes 61%
No 39%
Are you more likely to purchase something if part
of the proceeds go to charity?
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Local 61%
NaUonal 29%
Global 10%
What type of charities do
you prefer to donate to?
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Which causes do you prefer to support?
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Children ( Make A Wish)
Health Related ( Breast Cancer )
Women's Issues ( DomesUc Violence
Green ( NaUonal Wildlife FederaUon )
75%
54% 42%
32%
Did you use coupons last
year?
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There is an 11% increase in the amount of
Millennials using coupons in
comparison to last
year.
Are you using coupons this
year?
Yes No
89%
11%
2012
Yes No
78%
22%
2011
Where will you purchase your
items this year?
buzzmg.com
Online Retail LocaUons Department Stores
Discount Stores Electronics Stores
Drug Stores Catalogs Smart Phones/Tablets
Other
88% 82%
77%
55%
48%
31% 29% 28%
7%
$100 -‐ $200
$200 -‐ $300
$300 -‐ $400
$400 -‐ $500
$500 -‐ $600
$600 -‐ $700
$700 -‐ $800
$800 -‐ $900
$900 -‐ $1,000
More than $1,000
32%
15% 14% 12%
8% 4% 3% 2% 2%
7%
How much do you plan to
spend on electronics?
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Which electronics do
you plan to buy?
buzzmg.com
Laptop 18%
Smart Phone 13%
Tablet 20%
E-‐reader 10%
MP3 Player 11%
TV 10%
DVD Player 6%
None of the Above 12%
Will you use your technology
purchase at home and at work?
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Yes, at both work and home
42%
Just at work 1%
Just at home 43%
I don't plan on purchasing
technology this year 14%
If you plan to buy a laptop, which brand?
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Apple 22%
Dell / Alienware 16%
Sony 9%
Lenovo 4%
Acer / Gateway 8%
HP 17%
Samsung 10%
Toshiba 9%
ASUS 5%
Best Buy 26%
Target 16%
Walmart 18%
Radioshack 4%
eBay 6%
Amazon 20%
K-‐mart 4%
Other 6%
Where are you most likely to
purchase electronics?
buzzmg.com
Brand Name 16%
Lowest Price 16%
Quality 49%
Reviews 10%
FuncUonality Value 9%
What is most important when
purchasing a laptop?
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SHOP PING HAS E VOLVED. Alth ough 82% of our Millennials will sh op in traditional retail locations, 88% of them will also be sh opping online. 89% admitted they will be using coupons and 72% said they will be looking for more sales th is year.
OUR MILLENNIALS ARE STILL SPENDING. 38% of our Millennials said they will spend at least $800 th is h o liday season and 15% of them said they would spend more than $1,200. Only 8% will spend $200 or less th is year.
CHARITIES MAY INFLUENCE SPENDING THIS YEAR. 61% of our Millennials stated they would be more likely to purchase someth ing if part of the proceeds went to charity. Local charities are the most popular with our Millennials (61%).
Key Findings
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