A Close Look At Gen Y’S Internet Habits
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Transcript of A Close Look At Gen Y’S Internet Habits
It’s in the Eyeballs of the Beholder –It’s in the Eyeballs of the Beholder –
A Close Look at A Close Look at Gen Y’s Internet Gen Y’s Internet
HabitsHabitsCynthia Cohen
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It’s in the Eyeballs of the BeholderIt’s in the Eyeballs of the BeholderJanuary 18, 2000
This speech was prepared for the National Retail Federation’s Annual Convention in New York City. It is based on primary and secondary market research conducted by Strategic Mindshare in 1999. The research findings and our conclusions are being released to the public and press for the first time in today’s speech.
Strategic Mindshare would like to thank the professors, students, teachers, parents and web site executives who shared their time and insight with us on this important research effort. A special thanks goes to our virtual Gen Y staff who energized our thoughts and sparked our creativity. Oops! We forget to thank all those pizza delivery guys.
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Why ThemWhy Them
ResearchResearch
StatisticsStatistics
BehaviorBehavior
FindingsFindings
ImplicationsImplications
“Going to a speech today. Gotta hear what Strategy Diva is going to say”
What’s Up?
It’s in the eyeballs.comIt’s in the eyeballs.com
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Why Them?Why Them?
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Why Them?Why Them?
Leading the Boomers
“Dude, when is your Dad putting in the DSL line?”
Click here for info
Hot Stuff
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Data GatheringData GatheringData GatheringData Gathering
QuantitatQuantitativeive
StudyStudy
Focus GroupsFocus Groups
One on One on OneOne
Gathering Gathering Place IntakePlace Intake
ResearchResearch
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32%15%
29% 24%
Gen Y Under 23 Gen X 24-34 Boomers 35-53 Grays Over 54
StatisticsStatistics
Catch the Wave!
Population
1999
Source: US Census
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StatisticsStatistics
Gen Y Segments
Age 19 –23Age 19 –2317 Million17 Million
Click here for CollegeClick here for Tween
Age 8 - 14Age 8 - 1427 Million27 Million
Click here for Teen
Age 15 -18 Age 15 -18 15 Million15 Million
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BehaviorBehavior
Instant Message From Research Engineer Research Engineer: Did you know communication is the #1 use of the Internet?
Retail Maven: No Way!
Research Engineer: Way!!
Other uses by frequency are:
#2 Games
#3 Information
#4 Shopping
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FindingsFindings
10. Privacy and security are a concern
• Careful in chat rooms• Parents of more
affluent play greater oversite role
• More secure buying from credible sites
• Similar reaction as Boomers to credit card fraud
User Name: Shulman
Password: Retail Mason
Login In InformationLogin In Information
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FindingsFindings
9. Cognitive skills are highly developed
Instant Message from Roxygirl Piggyshort2: Did U catch Freddie on hipo.com?
Roxygirl: Yup. g2g practice
basketball. :)
• Tween and teen navigation skills on steroids
• No patience for slow or poor definition sites
• More sophisticated taste levels don’t like too much clutter
• Lots of judgmental conversation about sites
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FindingsFindings
8. What you see is not what you get – virtual personalities abound
• 60% have more than 1 e-mail address
• Like to anonymously follow personal interests
• Gamers very active with multiple personas
• View cyberspace as a test ground for expressing individuality
N E 1 can play
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FindingsFindings
7. No money is a myth
• Gain money access early helped by:- Rocket Cash- Doughnet- i Can Buy- Allowancenet- Store gift cards- Online gift
certificates• Want independence
early and getting it through on-line activities
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FindingsFindings
6. It’s a Bazaar Economy
• Trained in day trading:- Pokemon- Star Wars cards- Beanie Babies
• Like auctions and the bidding process
• Very competitive in all activities
• Savvy with money
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FindingsFindings
5. Stores are here to stay
• Shopping is a friend activity
• Need instant gratification for some items
• E-Commerce shopping: - apparel – mostly
brand names - books & CD’s –
based on price - niche products on
specialty sites
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FindingsFindings
4. Traditional media works, traditional creative doesn’t
• Everything except major daily newspaper works
• Ways to learn about web sites:
#1 from friends#2 from magazines#3 from links#4 from television
• Banner ads bite!• Get news from
entertainment sources• Don’t like “old fashion”
creative, need:- Sensational- Goofy- Sense of humor
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FindingsFindings
3. Time is a currency and multi-tasking is the norm
• Lots of purchasing to save time:- Tickets to events- Airplanes
• Overscheduled and activity compressed like parents
• Instant messaging and multiples on call or chat is norm
• Want sites that save them search time
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FindingsFindings
2. Loyalty is less and expectations are higher
• 56% said they do not have a favorite shopping site
• Core of high traffic sites, but large number of sites visited
• Things that interest them:1. Free shipping2. Sizing help3. Discounts4. Fast delivery5. In-stock feedback- Assortment equal or
greater than store- Outfit coordination- E-mail holds on store
merchandise- Personalized selection- Access to phone help- Freebies
“U R only a click away from oblivion”
Tips
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FindingsFindings
Strategy Diva’s Top Ten:10. Privacy and security are a concern
9. Cognitive skills are highly developed
8. What you see is not what you get – virtual personalities abound
7. No money is a myth
6. It’s a Bazaar Economy
5. Stores are here to stay
4. Traditional media works, traditional creative doesn’t
3. Time is a currency and multi-tasking is the norm
2. Loyalty is less and expectations are higher
1. These are speed junkies1. These are speed junkies
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FindingsFindings
1. These are speed junkies
• Site speed is #1 frustrater
• Expect speed to market hot products
• Change style frequently
• Look for current content
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ImplicationsImplications
• Build a powerhouse brand • Put your company on Internet time• Customize offerings on-line and off-line• Merge media and entertainment with retail• Allocate more dollars to marketing• Integrate Gen Y into your businessIntegrate Gen Y into your business
Business
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ImplicationsImplications
• Fast• In-stock• Eyeball driver content• Good cognitive design• Price rewards• Strategic partners
Site
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“Yo, Wall Street – Best value is in brand, infrastructure, hot site, multi-media and exciting stores! Hot clicks and bricks.”
What’s Up?
It’s in the eyeballs.comIt’s in the eyeballs.com
Best Practices
Brand
Content• Advertising• On-line• Magazine• Entertainment• Sponsorships
Commerce• Web shop• Stores• Catalog
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It’s time to change the way you think about retailing.
Services
Strategic management consultants to retailers, consumer product manufacturers, internet businesses, media companies and technology vendors. Strategic Mindshare provides a broad range of services which include:
• Business planning and strategy • E-Commerce strategies
• Marketing plan development • Marketing positioning
• New concept development • Merger and acquisition analysis
Intellectual Capital is the firm’s division providing strategic guidance to fast track entrepreneurial businesses.
Philosophy
The firm’s premise is that companies can no longer survive with day-to-day marketing tactics. They must proactively anticipate consumer trends, envision the future marketplace for their products and services, and differentiate themselves through innovative and targeted strategies.
Offices
Strategic Mindshare has offices in New York, NY, Miami, FL, Menlo Park, CA and serves companies in the United States, Latin America, Europe and Asia Pacific.
Phone contact:
Miami, FL: 305-377-2220 New York, NY: 212-333-3787 Menlo Park, CA: 650-233-2300
Web site: http://www.strategicmindshare.com