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THE INSIDERS VIEW CONSUMER TRENDS TO BOOST BUSINESS Angela L. Talton Chief Diversity Officer Nielsen Powered by mr. cooper
THE INSIDERS VIEWCONSUMER TRENDS
TO BOOST BUSINESS
Angela L. TaltonChief Diversity Officer
NielsenPowered by mr. cooper
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Copyright © 2017 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.
Angela TaltonChief Diversity Officer | NielsenSeptember 19, 2017
THE IMPACT OF DIVERSITY AMONGST MILLENNIALS ON THE FUTURE OF U.S. HOMEOWNERSHIP
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ABOUT NIELSEN
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THE MOST COMPLETE VIEW OF THE CONSUMER
SURVEYS FROM 500,000+
MOBILE USERS
6.7 BILLIONSTORE TRANSACTIONS PER MONTH
WHAT CONSUMERS BUY
250,000PANEL
HOUSEHOLDS
1.7 MILLIONSTORE VISITS
PER MONTH34 MILLIONRETAIL PRODUCTS
WHAT CONSUMERS WATCH
294 Million U.S. TV
VIEWERS
24X7 MONITORING AT 9,000 STATIONS IN 900 U.S. SITES
1.7 BILLIONVIEWING
RECORDS PER MONTH
We supplement the Watch & Buy consumer picture by measuring consumers’ shopping and viewing habits online and on mobile devices:
CAPTURING ONLINE DATA
MEANINGFUL PARTNERSHIPS
1.6 TRILLIONIMPRESSIONS PER YEAR
CAPTURING MOBILE DATA
SURVEYS FROM 500,000+ MOBILE USERS
7 MILLIONWEB EVENTS DAILY FROM
MOBILE DEVICES
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OUR CLIENTS INCLUDE...
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THE CHANGING FACE OF AMERICA’S FUTURE
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AMERICAN DIVERSITY IS DESTINYGROWTH IN POPULATION BY RACE & ETHNICITY
2020 2030 2040 2050
Growth Volume (net new, 000’s) 12,533 12,064 10,354 9,869
92% of the
tota l growth in U.S. popu la tion from 2000 to 2014 cam e from m ulticu ltu ra l consum ers
Source : Nie lsen The Multicu ltu ra l Edge : Supe r Consum ers Rising March 2015 Report
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1 Los Angeles County California Los Angeles, CA2 Cook County Illinois Chicago, IL3 Harris County Texas Houston, TX4 Maricopa County Arizona Phoenix et al, AZ5 San Diego County California San Diego, CA6 Orange County California Los Angeles, CA7 Miami-Dade County Florida Miami-Ft. Lauderdale, FL8 Kings County New York New York, NY9 Dallas County Texas Dallas-Ft. Worth, TX10 Queens County New York New York, NY11 Riverside County California Los Angeles, CA12 San Bernardino County California Los Angeles, CA13 King County Washington Seattle-Tacoma, WA14 Clark County Nevada Las Vegas, NV15 Tarrant County Texas Dallas-Ft. Worth, TX16 Santa Clara County California San Francisco et al, CA17 Broward County Florida Miami-Ft. Lauderdale, FL18 Bexar County Texas San Antonio, TX19 Wayne County Michigan Detroit, MI20 New York County New York New York, NY21 Alameda County California San Francisco et al, CA22 Middlesex County Massachusetts Boston et al, MA-NH23 Philadelphia County Pennsylvania Philadelphia, PA24 Suffolk County New York New York, NY25 Sacramento County California Sacramento et al, CA
THE MULTICULTURAL FUTURE IS NOWRANK NAME STATE NIELSEN DMA
21of 25MOST POPULOUS COUNTIES ARE
MAJORITY MULTICULTURAL
Source: Multicultural Edge: Rising Super Consumers, 2015
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MULTICULTURAL BUYING POWER ENERGIZES THE U.S. ECONOMY
Source: University of Georgia, Selig Center for Economic Growth
$316 billion
$210 billion
$115 billion
$601 billion
$491 billion
$274 billion
$1 trillion
$951 billion
$599 billion
$1.3 trillion
$1.2 trillion
$891 billion
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YEARS OF EFFECTIVE BUYING POWER STRONGEST AMONG MULTICULTURAL CONSUMERS
WHITENON HISPANIC
Source: Nielsen The Multicultural Edge: Super Consumers Rising March 2015 Report
AFRICAN -AMERICAN
ASIAN -AMERICAN
HISPANIC
LIFE EXPECTANCY
YEARS OF EFFECTIVE BUYING POWER
78.7 74.3 87.3 83.5
37 42 52 57
MEDIAN AGE 42 32 35 27
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Copyright © 2017 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.
MILLENNIALS
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MILLENNIALS: A GENERATIONAL PROFILE
Nie lsen : Millennia ls - Breaking the Myth ; Nie lsen Gene ra tional Life style Survey
At 1.7 b illion strong, Millennia ls m ake up 25% of the world’s popula tion○ Millennia ls/Gen Y (1977-1995)
■ Younger Millennia ls (18-27)■ Olde r Millennia ls (28-36)
Digita lly Native - Connected a t a ll tim es, on m ultip le p la tform s, bu t still de sire au thenticityand pe rsona l touch
Diverse, Expressive, and Opt im ist ic○ Most Racially/Et hnically Diverse Generat ion
■ 19% Hispanic■ 14% Afr ican Am er ican■ 5% Asian
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MILLENNIALS ARE MULTICULTURAL
Source: Nielsen, The Multicultural Edge: Rising Super Consumers, March 2015
Age
Age
Age
Age
Age
Age
Age
Age
Age
Age
GI G
enBo
omer
Gen
-X
Mill
enni
alG
en N
ext
Non Hispanic Whit e, %NHWMult icult ural (al l ot her ), %MC
Am er ican Diversit y by Generat ion
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THE ECONOMIC POWER OF MULTICULTURAL MILLENNIALS
Multicu ltura l Millennia ls in fluence $1 trillion in to ta l fast m oving consum er good and en te rta inm ent spending
Over one -th ird of Multicu ltura l Millennia ls have an ave rage annua l incom e of ove r $50,000
Source : Multicu ltu ra l Millennia ls: The Multip lie r Effect, report 2017
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16
AFRICAN-AMERICAN CONSUMERS
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African-American population is currently
46.3 m il l ion.
Black m illennia ls repre sent 14% of the to ta l m illennia l
popula tion .
POPULATION EDUCATION
21% of Black Millennia ls have earned a t least an
Associa te ’s Degree .
In 2012-13, Black wom en earned 65% of Bache lor’s Degrees awarded to Black
students.
FINANCIAL
The num ber of Black households earn ing $75k to
$100k increased by 35%be tween 2004 & 2014.
African-Am ericans own 2.6 m il l ion businesses with
$150 bil l ion in revenue .
African-Am erican consum ers
con tro l $1.2 Tr i l l ion
in annua l buying power
IMPRESSIVE SOCIOECONOMIC GAINS
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WHERE TO REACH BLACK CONSUMERS
Source : Se lig Cente r for Econom ic Growth , Te rry College of Business, Unive rsity of Georgia , 2015.
• The sta tes with the top Black buying power in 2015 were :
o New York $109 b illion
o Texas $106 b illion
o Californ ia $84 b illion
o Georgia $81 b illion
o Florida $80 b illion
• Sta tes with the h ighest p rojected growth in Black buying power a re in the south , bu t a lso include New York, Ca liforn ia and Illinois
o These sta tes include Black popula tion cente rs New York City, Los Ange les and Chicago
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BLACK CONSUMERS ARE INFLUENTIAL
73% 67%Of Whites Of Hispanics
Believe Black consumers influence mainstream culture
Source: Burrell 40, 2011
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REACHING BLACK CONSUMERS: TV & SOCIALVIDEO CONSUMPTION (DIGITAL AND TV):
Black Millenn ials spend 149 hours and 32 m inut es m onth ly, and African-Am ericans aged 38-52 spend 47 hours and 58 m inut es m onth ly watch ing Live + Tim e-Shifted TV.
Black Millenn ials spend 43 hours and 50 m inut es, and African-Am ericans aged 35-49 spend 32 hours and 35 m inut es m onth ly watch ing video on a PC.
+
Source : Young, Connected and Black: African-American Millennials are Driving Social Change and Leading Digital Advancement, 2016
GENERATIONAL AFRICAN-AMERICAN SOCIAL NETWORKING SITE MEMBERSHIP
18%
14%14%
Cam paigns designed t o reach Black consum ers m ust incorporat e t radit ional and new m edia plat form s
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ASIAN AMERICAN CONSUMERS
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Asian American population is currently
21.3 m il l ion.
The Asian Am erican popula tion has increased by
47% in the last 10 years.
POPULATION EDUCATION
Near ly half of Asian Am erican wom en have
earned a Bache lor’s Degree or h ighe r
Both U.S.-born and fore ign-born Asian Am erican
wom en have h ighe r ra te s of educa tion than the ave rage
Am erican wom an.
FINANCIAL
39% of Asian Am ericans have a household incom e
h ighe r than $100,000
Of the 87 U.S. sta rt-ups va lued a t ove r $1 b illion , 19
were sta rted by Asian Am ericans
Asian Am erican consum ers
con tro l $891 Bil l ion
in annua l buying power
FASTEST GROWING MULTICULTURAL GROUP IN THE U.S.
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ASIAN AMERICAN POPULATION CENTERED IN CALIFORNIA POPULATION
BUYING POWER
= 31% = 9% = 7%
= 33% = 8%= 9%
Source: University of Georgia, Selig Center for Economic Growth
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ASIAN AMERICAN CONSUMERS ARE DIVERSE
ANCESTRY OF ASIAN AMERICAN FEMALES 2015 • 19% of recen t im m igrants to the United
Sta te s a re Asian Am erican fem ales, ou tpacing even Hispan ic m ales.
• The m ajority of these recen t im m igrants cam e from India (25%), China (23%) and the Phil ippines (12%).
• Two-t hirds of Asian Am ericans speak a language o the r than English in the hom e
o In to ta l, the re a re 52 languages spoken by Asian Am ericans in the U.S. o the r than English .
Source : Asian Am erican Wom en: Digita lly Fluen t with an In te rcu ltu ra l Mindse t, 2017
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REACH ASIAN AMERICAN CONSUMERS ON DIGITAL PLATFORMS
98% of Asian Am erican adu lts use apps and b rowse the web on sm artphones pe r m onth , 6% highe r than the to ta l popu la tion
Asian Am ericans spend 47 hours and 18 m inut es per m onth watch ing video on PCs, nearly 6 hours m ore than the to ta l popu la tion
10%
of Asian Am erican households a re b roadband on ly, doub le the ra te
of the to ta l popu la tion
81 HOURS, 14 MINUTES
Asian Am ericans, on ave rage , watch 81 hours and 14 m inu te s of TV pe r m onth , the lowest
of any m ulticu ltu ra l group
Asian Am er ican consum ers are digit al pioneers, so cam paigns designed t o reach t hem m ust incorporat e t he lat est t ech and digit al plat form s
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HISPANIC/LATINO CONSUMERS
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Hispanic/Latino population is currently57 m il l ion.
The Hispanic popula tion is expected to m ore t han
double by 2060.
POPULATION EDUCATION
Between 2013 and 2015, 74% of Latinas enro lled in co llege im m edia te ly a fte r
graduating h igh school
Be tween 2005 and 2015, the pe rcentage of La tinas with Bache lor’s degrees
increased by 4%
FINANCIAL
There a re currently 1.5 m il l ion Latina-owned businesses in the U.S.,
gene ra ting $78.7 bil l ion in annual sa le s
52% of Latinas say it is the ir goa l to m ake it to the top of
the ir profe ssion
Hispan ic consum ers
con tro l $1.4 Tr i l l ion
in annua l buying power
DRIVERS OF THE U.S. POPULATION
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REACH HISPANIC CONSUMERS IN THE SOUTHWESTHispan ic Pe rcen t of Tota l Buying Power by Sta te
(Top Ten Sta tes for Hispanic % of Tota l)
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A BILINGUAL CONSUMER GROUP
• Well over half of La tinos speak Span ish in the hom e , and on ly one -fifth of La tinos speak English on ly in the hom e
• In orde r to reach Hispan ic consum ers, com panies m ust deve lop re levan t m essaging in bot h English and Span ish
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HISPANIC CONSUMERS: TRADITIONAL & EMERGING
A fu ll 98% of Hispan ic consum ers a re reached by rad io weekly
The top form ats am ongst Hispan ic consum ers a re Hispan ic Regiona l, Span ish Contem porary and Pop Contem porary Hit
TRADITIONAL
Hispan ic consum ers watch ove r 100 hours of te levision pe r m onth
EMERGINGHispan ic consum ers spend m ore than 2 hours m ore pe r week using apps and b rowsing the web on sm artphones than the tota l popu la tion
Latinos a re m ore like ly than non-Hispan ic White consum ers to visit socia l
ne tworking site s like Youtube , Instagram , Google+ and Snapcha t
Cam paigns designed t o reach Hispanic consum ers m ust be placed on cult ural ly relevant t radit ional plat form s while also incorporat ing m obile t echnology
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OUR PRESENT –AND OUR FUTURE – IS MULTICULTURAL
Millenn ia ls a re the la rgest and m ost d ive rse genera tion in the U.S.
Multicu ltu ra l consum ers a re se t to m ake up the m ajority of the U.S. popula tion by 2060.
Com panies ab le to m ake m eaningfu l connections with m ulticu ltu ra l consum ers now can see increased fu ture ROI.
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© 2015 The Demand Institute
REGARDING HOMEOWNERSHIP –MILLENNIALS HAVE DELAYED ADULTHOOD
Source: American Community Survey
26% 23%
44%37%
25% 25%
40%34%35%
29% 27% 26%
LIVE WITH PARENT IN SCHOOL MARRIED HAVE CHILD
1990 2000 2014
18 TO 34 YEAR OLDS
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© 2015 The Demand Institute
HOUSEHOLDS HEADEDBY MILLENNIALS (MILLIONS)*
MILLENNIAL SHARE OF:
MILLENNIAL HOUSING DEMAND IS ON THE RISE. . . AND WILL ACCOUNT FOR A SIGNIFICANT SHARE OF HOUSING SPEND.
Source: Demand Institute estimates based on U.S. Census Bureau Population Projections (2014)*Based on stated intentions from current/existing households.
26.6
39.3
2015 2020
CURRENT HOUSEHOLDS
FUTURE HOME PURCHASES*
FUTURE HOME LEASES*
22%
41%
43%
NEX
T 5 YEA
RS
2015
+48%
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© 2015 The Demand Institute
THEY ARE STILL SEEKING THE AMERICAN DREAM. . . AND STILL BELIEVE HOUSING IS AN EXCELLENT INVESTMENT.
Note: Among 18 to 34 year olds.Source: The Demand Institute U.S. Housing & Communities Survey (2015)
75%Believe ownership is an important long-term goal
13%
35%
52%
80%Believe ownership is an excellent investment
PLAN TO PURCHASE
ALREADY OWN
WILL NOT PURCHASE
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26%
54%
16%
MORE SPACE IS A TOP PRIORITY. . . MOST WANT TO MOVE TO SINGLE-FAMILY HOMES.
Note: Among 18 to 34 year oldsSource: The Demand Institute U.S. Housing & Communities Survey (2015)
Easy
NEXT HOME TYPE
65%
25%
10%
WANT MORE SPACE
RENT
PURCHASE
RENT
4% PURCHASE
SPACE PREFERENCES
SINGLE-FAMILY
MULTIFAMILY
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© 2015 The Demand Institute
Note: Among the top 100 Core Based Statistical AreasSource: Nielsen PopFacts (2016)
POPULATION GROWTH WILL BE STRONG IN SOUTH. . . SOME AREAS MAY SEE DECLINES IN YOUNGER HOUSEHOLDS.
CHANGE IN 18 TO 34 POPULATION FOR THE TOP 100 METRO AREAS,2016 TO 2021
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© 2015 The Demand Institute
30%
35%
40%
45%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Note: The home ownership rate is based on 3-year moving averages.Source: Current Population Survey March ASEC
HOME OWNERSHIP IS ON THE DECLINE
18 TO 34 HOME OWNERSHIP RATE
. . . EVEN FOR MORE AFFLUENT & MARRIED HOUSEHOLDS.
<$35K-4%
CHANGE IN OWNERSHIP RATE SINCE 2010
$35-74K-8%
$75K+-12%
MARRIED-8%
SINGLE-7%
HO
US
EH
OLD
IN
CO
ME
MA
RITA
L S
TATUS
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© 2015 The Demand Institute
62%
18% 11% 3%
FINANCIALREASONS
NOT READY TOSETTLE
CAN'T FIND A PLACE TOO RISKY OF ANINVESTMENT
FINANCES ARE HOLDING MILLENNIALS BACK
Note: Among 18 to 34 year oldsSource: The Consumer Confidence Survey (July 2015)
MAIN REASON RENTERS DO NOT CURRENTLY OWN
. . . LACK OF DOWN PAYMENT, INCOME AND POOR CREDIT ARE TOP BARRIERS.
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© 2015 The Demand Institute
MILLENNIALS DO FACE FINANCIAL CHALLENGES. . . BUT ARE HOPEFUL THAT THEIR SITUATION WILL IMPROVE.
Note: Assets and debt in 2013 dollars.Source: Federal Reserve Bank Survey of Consumer Finances; The Demand Institute U.S. Housing & Communities Survey (2015)
52%Of renters think it will be difficult to qualify for a mortgage
80%Expect their financial situation to improve in the next few years
DEBT
ASSETS$8.1K
$8.7K
$4.6K
$7.0K
MEDIAN NON-HOUSING ASSETS & DEBT18 TO 34 YEAR OLD HOUSEHOLDS
2001 2013
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