A Think TAnk
f
or
DiGiTAL innOVATiOn
SCOTT GALLOWAY
NYU Stern
© L2 2010L2TTa.com
Ge Y Afuets:
Meda Survey
Decemer 16, 2010
© L2 2010L2TTa.com
2
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Ge Y Afuets:
Meda Survey
inTRODUCTiOn
The End o the Beginning
Resapg Prestge Zeros ad Oes:Mlleals’ Meda Cosumpto ad its Eect o Brads
Generation Y—the uture o prestige—has a strong preerence or digital content and social interaction.The auent slice o millennials we surveyed is brand conscious, educated, and upwardly mobile. Theyregularly engage with prestige brands through a variety o media, rom newspapers to micro-blogs.But digital is trouncing traditional channels with this critical cohort and is gaining momentum. Luxurybrands continue to fght tanks with cavalry, devoting the bulk o their marketing dollars to print and analog.Brands that continue to under-invest in digital risk losing mind share o the largest U.S. consumer group—Generation Y.Fortunately, brands are catching on; it’s the “end o the beginning” o a dramatic shit in ad spending romtraditional ormats to digital. Det marketers are recognizing the value o investing in their own sites, socialmedia platorms, and mobile apps. Those that don’t embrace the digital migration risk joining Blockbusteron the dust heap o great brands that hoped the Internet would just go away.
© L2 2010L2TTa.com
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Ge Y Afuets:
Meda Survey
inTRODUCTiOn
The Headlines
FACEBOOk, hAnDS DOwn:
81%
o millennials use Facebook every day—nearlytwice as many as those who watch TV or readnewspaper content.
BLOGS SCALE ThE GATES OF ThE FOURTh ESTATE:
Nearly 1/2
read blogs every day, as many as thosereading newspaper content
.
nEwS BRAnDS ThRiVE—iT’S PAPER ThAT’S DYinG:
4 out o 5
o those who access newspaper contentdaily do so digitally.
DiGiTAL kiLLED ThE TV SET:
42%
watch TV shows online;
27%
watch movies online.
ThE UPwARDLY MOBiLE GO MOBiLE:
25%
use mobile to access social media, and
1 in 8
watched a video on mobile in the past 24 hours.
DiGiTAL SOCiAL BRAnDinG iS PARAMOUnT:
63%
use social media to engage with brands, and
more than
50%
say that Facebook, blogs, and brandvideos aect their opinions about products.
wEBSiTES ARE FLAGShiPS, TOO:
Websites are as infuential as physicalstores
in shaping Gen Y sentiment, second only toriends’ opinions.
ABOUT ThE SURVEY
L2 surveyed nearly 1,000 high-achieving and high-earning Gen Y adults. Refned to apanel o 535, on average this sample set is on a trajectory to earn more than $100,000in the short term and double their income within the next fve years.
–––––6.3%0.2%0.2%1.1%2.2%4.3%9.5%0.4%0.2%0.2%5.2%41.5%2%0.2%0.4%0.4%0.4%1.9%0.6%0.2%1.9%0.2%0.9%1.5%0.4%11.7%2.2%3.2%0.7%
40%+20– 40%10–20%5–10%1–5%0–1%0%
The Panel:
• 535 individuals; average age 27• 56% female; 44% male• From 41 countries including the U.S. (76%),India (4%), China (3%), Canada (1%), HongKong (1%), Mexico (1%), South Korea (1%),and Germany (1%)• 75% expect to make more than $80,000
per
year in the short term (next 24 months)
The Questions:
• Respondents answered questions on modes ofmedia consumption, frequency of use, devices used,
and brand interaction within the various media
• Before scoring the brands, respondents were asked
unprompted or their fve avorite prestige brands
• Respondents scored sentiment for 100 iconic
prestige brands
• Ten industry categories: Auto, Beauty & Skincare,
Department Store, E-tailer, Fashion Brand, Flash Site,
Men’s Fashion Brand, Shoes & Leather Goods, Travel& Hospitality, Watches & Jewelry
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