Iconoculture Values & Lifestyle Survey Key Takeaways

Callahan CreekEmerging Technology Roundtable

A n n u a l Va l u e s & L i f e s t y l e S u r v e y

CEB Iconoculture conducts an annual values and lifestyle survey across ten US consumer categories. The survey is part of a long-term effort to assess the magnitude and direction of the forces shaping consumers’ lives. Some of the topics they cover are:

• Consumer values• Consumer activities• Fashion and style• Food and beverage• Health and beauty• Home• Media and technology• Money and spending• Shopping and retail

• Transportation and travel

The following slides offer highlights, but by no means represent the totality of the work. We highly recommend CEB Iconoculture and information about their service can be found at www.iconoculture.com

http://www.iconoculture.com/

Values

How are values changing?

Millennials and Gen We are beginning to shape society’s collective beliefs. The bedrock values of loyalty, responsibility, honesty and equality remain consistent across generations, but younger generations are driving an ascent of values oriented around improving and learning.

Source: 2014 Iconoculture Values & Lifestyle Survey

Purpose

Health

Diversity

Discovery

Learning

2014Rank

△ from2010

39 +16

20 +12

25 +11

40 +11

32 +8


Activities

Consumer Activities On The Rise

The digitization of day-to-day life is evident in the most prominent rise in activities - social media increase 17 percentage points from 2010 to 2014 (62% of US consumers now participating on a monthly basis) and taking photographs was up 13 percentage points, most likely due to smartphone use.


Social Media

Take photos/video

Park/beach

Coffee Shop

Entertain at home

2014 %Participate

△ from2010

62% +17

56% +13

46% +12

40% +12

38% +6


All high for Millennials and many membersof Gen We.

Consumer activities differ by gender

Certain activities are still predominantly engaged in by certain genders. Women are more likely to socialize and engage with food. Men tend toward physical pursuits and ingest empty calories (are we surprised?).



Women are more likely to… Men are more likely to…

Participate in social networks Manage investments

Take photographs or video Play sports

Look for new recipes/cooking ideas Go to a bar, pub or nightclub

Cook for fun Purchase fast food

Go to a park/beach Got to the movies

Visit a coffee shop Attend sporting events

Entertain at home Go camping, fishing, etc.

Attend a celebration or party

Sew, woodworking or crafts

Cook a meal with kids

Volunteer

© 2015 CEB. All rights reserved

Money and Spending Data Dive: 2014

Ken Teegardein, Flickr.com imageMoney

Household income on the rise for all generations

The good news is that all generations reported an increase in household income in the past twelve months. One of the groups hit hardest by the recession was Millennials - who thankfully saw the largest number of households reporting an increase. But the economic upturn helped even older consumers, no doubt reflecting the increased optimism seen in polls lately.


Millennials

Gen X

Boomers

Matures

2014 %Reportingincrease inHH income

△ from2010

38% +13

31% +8

23% +8

18% +9


Paying bills late dramatically declined - more good news!

With income rising, one would hope that overall household finances would improve. One clear sign of this improvement is the number of households paying bills late due to a lack of funds. After a encouraging drop in 2013, even fewer households paid bills late in 2014 - a clear sign that those paying bills were using their increased income wisely!



2011 2012 2013 20140%

10%

20%

30%24% 24%

21%

15%

Paid bills late because of lack of funds


Fashion and Style Data Dive: 2014

Ed Yourdon, Flickr.com image

PersonalStyle

What do generations feel express their personal style?

Not surprisingly, our appearance (what we wear, how we look) is a strong expression of our “personal style” across generations. Also not surprising is that as we age, our homes become a stronger reflection of our self.

An interesting difference is around technology. Younger generations feel technology reflects their style - not only as a device but by what it creates as well. Older generations? Less so, but don’t count them out. They are rapidly learning to use technology and incorporate it into their lives.



Identity is:How I see myselfHow I think others see meHow I want others to see me

Gen We

Millennials

Gen X

Boomers

Matures

0% 23% 45% 68% 90% 113%

20%

23%

17%

13%

10%

37%

39%

40%

38%

30%

27%

27%

26%

30%

35%

My tech devices express my personal style

Technology in the home

Not only has tech become an important symbol of self for younger generations, they are more frequently updating technology in their homes. These younger homes are wireless and streaming, evidence the era of everything being connected, aka the “internet of things,” is well underway.


A n n u a l Va l u e s & L i f e s t y l e S u r v e y Gen We

Millennials

Gen X

Boomers

Matures

0% 23% 45% 68% 90%

58%

61%

65%

74%

85%

42%

39%

35%

26%

15%

Don’t seek new tech vs. always updaing home

Always updating homeDon't seek new tech

Wifi at home Streaming video0%

20%

40%

60%

80%

100%80%

42%

74%

52%

66%

38%

58%

26%

47%

16%

Types of tech at homeGen WeMillennialsGen XBoomersMatures


Health

Health behaviors on the rise



We all think we’re pretty healthy, despite much evidence to the contrary. The good news is that some of our behavior is heading in a healthful direction. We report we’re exercising more, getting more sleep and trying to unplug from technology. At least we say we are…

% reporting activity to maintain health

2014% points change from

2010

Exercise 75% +5

Get enough sleep 68% +8

Unplug from tech 46% +5

Use skincare products

61% +8

Healthier eating



We’re moving away (slowly) from fast and empty calorie intake toward slower, experiential food. This includes a decline in empty calories from beverages, with monthly beverage consumption on the decline in several categories like juice, soda and pre-mixed coctails.

2014

Drink monthly% points change from

2010

Juice 70% -13

Regular soda 56% -7

Diet soda 40% -6

Premixed coctails 24% -12

Gen We and Millennials are more likely to drink juice and regular soda.


Transportation

Automobile ownership declining



It may not seem like much of a decline at first glance, but when thinking of the scale of the automotive industry, there is likely a lot of angst about the future. The one-year decline in automobile ownership among anyone under 40 is staggering. That’s good news for Uber and Lyft.

2013 20142 5 %

4 0 %

5 5 %

7 0 %

8 5 %

1 0 0 %93% 93%

89% 89%89%

85%

74%70%

31%27%

Automobile Ownership

MaturesBoomersGen XMillennialsGen We

Media

Our world is digital, open and multi-screen



We don’t yet understand the full implications of a connected, open and sharing digital world. But we’re rapidly moving there and increasingly accepting of being tracked, receiving digital rather than physical media and multi-tasking.

Series1

0 % 2 5 % 5 0 % 7 5 % 1 0 0 % 1 2 5 %

53%

59%

40%

47%

41%

60% Prefer to multitaskPrefer to single-task

Worry about sharing Comfortable sharing

Prefer a digital copyPrefer a physical copy

Marketing

Iconoculture Values & Lifestyle Survey Key Takeaways