Younger Britons See an Upside to Economic Insta...
LONDON, April 23 /PRNewswire/ --
- JWT Examines the Recession's Impact on the Youth Market
While overall British consumer confidence has plummeted, young adults
believe some good can come from an unstable economy, according to "The
Recession and Its Impact on the Youth Market," a quantitative research report
released today by JWT, one of the largest advertising agencies in the world.
The study found that the top drivers of anxiety among British adults are
the state of the economy and the rising cost of living. Among British teens,
economic concerns have replaced typical ego-centric worries.
While almost half (46 percent) of 18-29-year-olds say the recession has
dealt their generation an unfair hand, they also see an upside. "Young
Britons are hoping the recession will finally push home prices within their
reach, and they see opportunities to be entrepreneurial and start their own
business," says Guy Murphy, Worldwide Planning Director, JWT. "A good way for
brands to build confidence is through hope -- giving young consumers a chance
to be proactive and plan practically for the future."
When it comes to belt-tightening, British teens appear willing to trade
down or drop many amenities -- but not their Internet connections or mobile
phones. Nine out of 10 would be reluctant to give up their Internet, and
eight out of 10 would be reluctant to forego their mobile phones and ability
to text friends. By comparison, fewer than half say they would be reluctant
to give up going out to movies, buying new video games or eating out.
"For this generation, mobile phones and the Internet are an integral part
of their social lives and a form of entertainment that they are not willing
to give up, even when times are tight," says Murphy. "To engage and reach
young Britons, brands must live in their world, partnering with companies in
the mobile and online arenas."
Additional findings include:
-- Among British adults, the primary driver of anxiety shifted between
August 2008 and February 2009 from a big-picture worry about the state
of the economy to a closer-to-home concern about the cost of living.
-- Pessimism about the future is prevalent, especially in regard to
unemployment, the government budget deficit, the state of the economy
and the cost of living.
-- Teens are more anxious than their parents believe: 44 percent of
British parents say their teens feel anxious, but as many as 57
percent of teens report anxiety.
The survey, fielded February 12-18, 2009, polled 1,004 Britons aged
18-plus, 203 of whom were 18-29, and 64 teenagers (aged 13-19) residing in
the homes of the adults surveyed. This is the 16th installment of JWT's
six-year-old proprietary AnxietyIndex, launched during the run-up to the Iraq
war to track the level and intensity of consumer anxiety and, importantly,
the drivers of it.
Full findings from "The Recession and Its Impact on the Youth Market" can
be downloaded for free in the Trends and Research section of
www.AnxietyIndex.com.
About AnxietyIndex.com
JWT's AnxietyIndex.com is an interactive site designed as a place to
discover and discuss how brands and consumers are responding to the global
recession. With daily content updates and major research and trend reports
added frequently, AnxietyIndex.com includes contributions from around JWT's
network, offering a truly global perspective.
About JWT
JWT is the world's best-known marketing communications brand.
Headquartered in New York, JWT is a true global network with more than 200
offices in over 90 countries employing nearly 10,000 marketing professionals.
JWT consistently ranks among the top agency networks in the world and
continues its dominant presence in the industry by staying on the leading
edge -- from producing the first-ever TV commercial in 1939 to developing
award-winning branded content for brands such as Freixenet, Ford and HSBC.
JWT's pioneering spirit enables the agency to forge deep relationships
with clients including Bayer, Cadbury, Diageo, DTC, Ford, HSBC, Johnson &
Johnson, Kellogg's, Kimberly-Clark, Kraft, Nestle, Nokia, Rolex, Schick,
Shell, Unilever, Vodafone and many others. JWT's parent company is WPP
(Nasdaq: WPPGY).
CONTACT:
Alie Griffiths
CK Publicity
t: +442077925559
m: +44(0)778051411
e: alie@ckpublicity.com
Latest directors dealings
- 3 minutes ago Hamak Gold Limited NPV (DI)
- 55 minutes ago Prudential
- 1 hour ago Vanquis Banking Group 20
- 3 hours ago Frasers Group
- 3 hours ago Cavendish Financial