A regular review of interesting cultural shifts & marketing developments as viewed through the collective lens of the Stancombe Research + Planning Team

Tuesday, July 14, 2009

Young adults slash spending and time online

Australia’s young adults are increasingly shunning the internet and extravagant consumer spending to embrace more ‘authentic’ pastimes, according to a new study.

Lifelounge’s annual Urban Market Research, which analyses the habits of 18 to 30-year-
olds in Australia, found that the demographic’s overall consumer spending dropped $5bn on last
year to $42.4bn. Entertainment spending was the worst hit by attitudes influenced by the global economic downturn, with outlay falling $7.3bn to $19.4bn. However, travel spending increased $4.4bn to $9.3bn.

Perhaps most surprisingly, internet usage dropped over the
past 12 months, with those questioned spending an average of 8.6
hours a week on the web, down 30 minutes on last year.
Average time spent in online chatrooms also fell, down one
hour to 2.3 hours, with TV consumption declining by 1.3 hours to 4.4 hours.

Another trend defying aspect of the report was the increased consumption of newspapers, with
time spent reading titles increasing by 30 minutes to 1.9 hours a week. The report found a general love for nostalgia among respondents, with farmer’s markets, vinyl
records and vintage clothing all proving popular.

Late-night revelry appears to be in decline, with those polled increasingly preferring activities
such as jogging, dinner parties and home entertainment.

Brands seen in a positive light by respondents included Converse, Vans, iPhone, Nintendo Wii,
Pure Blonde and Asahi. “Young adults are steering away from the consumerist culture that
previously characterised their spending and lifestyle habits,” said Dion Appel, CEO of Lifelounge
Group. “As digital natives, the youth market has grown up online but are increasingly seeking to
balance their online world with offline contact. They’re starting to question the authenticity of social networks such as Facebook and Twitter. They want technology to assist – rather than dominate – the way they communicate.”

Source unknown...but similar SMH article can be found here

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