Marketers have often made use of generations as a demographic and psychographic delineator for specifying and describing their target markets. But what exactly is a generation? And why is this understanding useful to marketers?
Then vs. Now: How things have changed from 1982-2012
The typical teenager in the early 1980s was rocking a Walkman and had
just seen E.T. Today's average kid? He has a cellphone in his pocket,
he listens to Rihanna, he's less likely to finish high school and he's
more likely to practice safe sex.
1982: Olivia Newton-John, Survivor, Joan Jett and the Blachearts
2012: Adele, Rihanna, Katy Perry
1982: Fast Times at Ridgemont High, E.T.
2012: Twilight: Breaking Dawn, Harry Potter and the Deathly Hallows 2
1982: Coleco Vision, Atari
2012: PS3, Wii, Xbox 360
1982: Pete Rose
2012: LeBron James
1982: $60.30 per week
2012: $130.oo per week
2012: 3 out of every 4 teens has a cellphone
1982: 30% of teens
2012: 20% of teens
1982: Engineering, Biology, Business Management, Physical Sciences, Agriculture and natural resources
2012: Healthcare, Business, Education, Social Sciences, Visual & Performing Arts
1982: 52% of kids 15-17 had their driver's license
2012: 43% of kids 15-17 had their driver's license
1982: 77.5% of high school students graduated
2012: 72% of high school students graduate
1982: 79% white, 11.6% black, 6.3% hispanic, 1.3% Asian
2012: 54% white, 21.5% hispanic, 17% black, 5% Asian, 1.2% Native Americans
1982: 58.3% go to college, 35.4% work full time, 6.3% other
2012: 79.2% go to college, 18.7% work full time, 2.1% other
Top Foreign Languages
1982: 18% Spanish, 9.2% French, 2.5% German
2012: 30% Spanish, 8% French, 2.1% German
Sex and Safety
1982: 55% of kids use contraception during their first sexual experience
2012: 81.5% of kids use contraception during their first sexual experience
The youth of South Africa command billions of rands in spending power, directly and through their influence over household consumer decisions. Today’s young adults have more disposable income than the generations that have come before them.
n terms of segment size and buying power, the "Youth Market" are of great significance to marketers, with roughly half of South Africa’s population being under the age of 24 and the most recent annual spend for consumers aged 8-23 being estimated at around R111 billion.
If you’re a brand owner or retailer hoping to tap into the current go-to market – young, influential and aspirational millennials – you need to chuck almost everything you know about marketing out the window.
Young South Africans may account for less than 20% of marketing budgets, but they remain an important market bringing with them the power to dictate trends, parental purchases, fashion and the popular choice of technology.