Consumer insights drive our industry. Cultural studies like the long-term CEB Iconoculture Values and Lifestyle Survey are invaluable to marketers and give us the opportunity to reach across market segments, demographics, and geographies so our strategies can grow with our clients’ goals.
CEB Iconoculture has just published the first part of an important series of “data dives” into 2014 survey findings. I dug into the most compelling consumer behaviors and put together a deck of key takeaways. The full slidedeck can be found below, with some top-level highlights here:
1. Millennials and Gen We are shaping society’s collective beliefs, driving values oriented around improving and learning.
2. Social media use increased by 17% between 2010 and 2014. Taking photographs was up 13%, most likely due to smartphone use.
3. As far as activities go, women are more likely to socialize and engage with activities centered around food, while men lean toward physical pursuits and ingest empty calories.
4. Household income is on the rise for all generations, with millennials reporting the largest increase.
5. After an encouraging drop in 2013, even fewer households paid bills late in 2014. It’s a clear sign that those paying bills were using their increased income wisely.
6. Younger generations feel technology reflects their style – not only as a device, but by what it creates as well. This is less so for older generations, but they too are rapidly learning to use technology and incorporate it into their lives.
7. Younger generations are more frequently updating technology in their homes. These younger homes are wireless and streaming, evidence that the “internet of things” is well underway.
8. Consumers say they are exercising and sleeping more and eating healthier, despite much evidence to the contrary. Soda, juice, and pre-mixed cocktail consumption is on the decline.
9. The one-year decline in automobile ownership among anyone under 40 (from 31% to 27%) is staggering. That’s good news for Uber and Lyft.
10. Consumers don’t yet understand the full implications of a connected, open and sharing digital world but are increasingly accepting of being tracked, receiving digital rather than physical media, and multi-tasking.