How to Market to the Overlooked 25-34-year-old Age Segments
According to the “Golden Age of Youth” study from Viacom Brand Solutions International, marketers should target consumers based upon their engagement and participation in youth culture rather than on their chronological age, and consider the often-overlooked 25-34 age group a part of the youth market, VBSI said.
Psychology tells us that we must look at the mental and emotional side of people. We see them being different today than they were decades ago.
Generation Y itself can be split into two—with the 18-to-25-year-olds often studying or living at home with parents and the upper age bracket from 25-34 is often making aspirational big-ticket purchases, such as houses and cars.
As such, young people are taking far more interest in their own finances and companies have sprung up to take advantage of the discerning generation.
Kevin Razvi, executive vice president and managing director of VBSI, said “… people are trying to stay younger for longer… 25-to-34 year-olds are continuing to consume music, gaming and the internet and are enjoying the pursuits of their younger years… we… need to rethink what ‘youth’ actually means and… (how to) approach this constantly evolving group of people.”
Though those between 25 and 34 remain youthful, there are some important differences among them and their younger and older counterparts. The study identified three distinct stages of youth: “Discovery” (16-19 years old); “Experimentation” (20-24 years old); and “Golden” (25-34 years old).
According to the study, 25-34 year-olds are happier, and more confident, secure and gravitate toward premium, understated and often luxurious brands and experiences to affirm their identity. In contrast, teenagers are highly focused on material gain and employ brands to define their identity.
The study also states that 25-34-year-olds are most likely to agree that they are happy or content with their personal life, and are 24 percent more likely than teens to agree that they “love life.” More than 80 percent of the global respondents say that that the 20s should be about exploring life and having fun.
Teens feel that they are under pressure to figure out who they are and where they are going and are 23 percent more likely than those 25-34 to agree that their life is more stressful. This is particularly true in Europe and in the United States.
Based on the study, 23 percent of the 25-to-34-year-old global sample feels that financial institutions are aimed at those older than they are, though youthful brands have a new market beyond the core teenage target. In the traditionally young area of technology, one-third of 25-34 year olds agree they’re really interested in new technology, and 66 percent say that they take the time to learn how things work to get the most out of them.
The study also found respondents age 25-34 who are married are significantly more likely to be happy (66 percent) vs. singles (30 percent). VBSI used both qualitative and quantitative methodologies to survey more than 25,000 respondents between ages 16-46 in 18 countries.
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Tags: age, chronological age, Discovery, Experimentation, Golden, Psychology of the Sale, sales, selling, target markets, youth