I got a mail from my friend Sanjay Tiwari he leads a Juxt Consult,which owns one of India’s largest and most info-rich consumer and internet user panels. Juxt had recently completed a study on Indian Consumer Generations. see the ppt on this link!
I got so hooked onto his findings that I told him that I’d blog it. Here’s how Juxt looks at it!
Here’s the topline as I see it. And a few learnings that marketers in India would benefit from. And here’s the takeout.
1. To Each Her Own….It’s all about money honey!
According to the study, there are distinct age milestones where each of us naturally ‘grow out of’ and ‘move in’ to a progressively older generation – from a child to an adolescent, to a young adult, to the middle ages, to the elderly. At each ‘generational’ stage, the biological and psychological needs vary as do the ‘lifestyle’ and ‘consumption’ needs. But, and here’s the nub, each generational stages changes the way an individual takes ‘independent’ consumption decisions, and then ‘fund’s them. Clearly, who wants to buy a Beemer and does it go with Ed Hardy shoes! Marketers should therefore recognise and differentiate between not just the groups, their consumption behaviours and but also their very distinct abilities to take independent consumption decisions and fund those decisions.
2. Young are more..….Mature have more money
- ‘Gen Now’ ( Adults between the age of 25 and 39) is the single biggest generation group in India at 27% (308 million individuals). ‘Gen Next’ ( teens, tween and young adults) come in a close second at 300 million individuals. 50% of all ‘Gen Next’ are ‘teenagers’ (13-18 years). Only 1 in 6 ‘Gen Next’ are gainfully employed (2/3rd are students). Average age of ‘Gen Next’ is 19 years. What does that mean for brand awareness and consumption?
- 2/3rd of ‘Gen Yest’ are in their ‘early’ middle age (40-45 years). ‘Gen Yest’ are the most employed (60%, as against 50% of ‘Gen Now’. Interestingly, 42% of Gen Vintg are also employed. Does India prefer an older workforce? or are our Gen Next and Now equipping themselves with more education for a higher consumption lifestyle?
- ‘Gen Yest’ have the best individual incomes, followed by ‘Gen Vintg’ (households with ‘Gen Vintg’ in them have the best family incomes) Throwing out our grannies is surely a BAD idea, esp. if she and her relatives can leverage a better lifestyle and references for Gen Yest and Gen Now.
3. Boys don’t have all the fun…Grown Ups Party more!
- ‘Gen Now’ rides 2-wheelers relatively the most (account for almost half of all 2-wheeler driving population)
- Only 1 in 5 ‘Gen Next’ drives a 2-wheeler (mostly motorcycle), and only 0.3% drives a car. 2/3rd of them ride bicycles- Is that an indication of Gen Next becoming responsible eco-citizens? Its’ only the oldies who consume fossil fuel and drive around in gas guzzlers. That’s Gen Vintage followed by Gen Yest.
- ‘Gen Yest’ has financial smarts, more credit card and life insurance than any other category followed by Gen Now, and perhaps are more into travel for both domestic and international holidays, and the other consumption behaviours such as drinking alcohol and smoking cigarettes.
4. Different lifestage….Different instincts
- While Cinema and music are the biggest hobbies among all generations. ‘Gen Next’ read more books and follow more sports, while ‘Gen Now’ follows cookery and ‘Gen Yest’ and ‘Gen Vintg’ prefer to engage in social work and spirituality relatively more.
- Gen’ Now is the reason why creative departments in agencies and marketing managers are having a ball in India. Firstly, they are relatively more ‘trend conscious’, and they respond to marketing stimulus the most. Gen Next on the other hand, is surprisingly the least interested and also less social than other generations, perhaps because of mobiles and the handheld social networks at their disposal.
- Price still rules across generations while Gen Next gives more importance to the ‘looks’, ‘brand image’, ‘shopping experience’. Gen Vintg gives relatively more importance to ‘performance quality’! You know who’s buying those unbreakable handsets.
- ‘Gen Next’ believes ‘fame’ is a bigger priority than ‘education’, perhaps spawned on KBC, and other reality TV shows. Strangely, they also seem to give more importance to ‘family pedigree/prestige’ as a status symbol than the other generations. instant fame meets blue blood!
5. Different strokes for Different folks!
- In personal grooming, ‘Gen Next’ shows the highest usage of Lipstick and Fairness cream, ‘Gen Now’ of Face creams and Deo’s, while hair color is almost equally used across all generations- different shades, am sure!
- while dressing up, ‘Gen Next’ shows the highest usage incidence of Jeans, Sports shoe and Readymade shirts, ‘Gen Vintg’ for Watches
- When snacking, ‘Gen Next’ doesn’t like milk additives and is the highest consumer of Cold drinks and Packaged snacks, ‘Gen Now’ likes Chocolates and Noodles
- When out for a drink, ‘Gen Now’ likes Beer, ‘Gen Yest’ Whiskey.
…and distinct Media Preferences
- Watching TV is more than a pastime for ‘Gen Next’ its the thing to do and ‘Gen Now’ catches a snatch while ‘Gen Vintg’ has the lowest interest – Looks like the Saas ( Mother-in-law) in Saas-bahu serials doesn’t sit with the daughter- in-law for family TV time.
- And of course, DD1 is the most popular entertainment channel across generations, thanks to terrestrial transponders, followed by cable and satellite leader, Star Plus.
- ‘Gen Vintg’ are relatively the heaviest readers of newspapers (especially during the weekdays). ‘Gen Next’ are the lightest readers of newspapers, perhaps preferring internet, social media and mobiles.
- ‘Gen Yest’ are relatively the heaviest listeners of radio during the weekends, ‘Gen Now’ during the weekdays (while Radio Mirchi is the most popular radio channel across all generations, Vividh Bharti is also quite popular among the ‘Gen Next’)
End Note: surprisingly, its the oldies who are actually having a golden time. With age has come independant consumption behaviour and a penchant for Rolex watches? What about your take? do you think the JUXT study matches your take-outs and insights or is it opening up new demographics to explore?