Tag Archives: Demographics

It’s Summertime, Summertime, Sum-Sum-Summertime!

This is our first article in a series of three regarding the fun summer unfolding and the way we will spend it.  To make it more interesting, we’ve divided our expected spending and behavior patters by the major spending generation.  Baby Boomers are now 55 to 73 years of age.  Gen X is 40 to 54.  Millennials, our largest group are now 24 to 38.

With summer-time upon us, the travel season is hitting the peak.  Consumers are hitting the roads and taking to the skies in droves in order to do everything from working, to visiting family, and even just taking the time to do something as simple as creating a memorable and educational experience.  With schools out for the summer, many families are taking summertime as the usual opportunity to create multi-generational memories.  And with Atlanta being the busiest airport in the world, with more passengers coming through per day than any other airport (and Chicago a close second), Atlanta is perfectly situated not just for domestic travel, but for international travel as well.

So who is traveling and where are they going?  We gathered up some interesting statistics from current studies to give you a glimpse of who might be coming to your neck of the woods and what they might be doing when they get there.  According to a survey by AARP taken in 2018 of more than 1,700 American travelers, we get a pretty good idea of where the three main groups  are going and why in the table below.

Base:  International and Domestic Trips in 2018: 
Data based on Total Responses, up to 5 trips discussed 
n = base number of responses; pink indicates most popular selections. 
Source:  AARP “Travel Research: 2018 Travel Trends” Report 
and JB Research Company

Millennials are traveling more than other generational groups, and they are taking more celebration vacations.  They are enjoying multi-generational trips, which is important because family size and expenditures are necessarily higher.  Baby Boomers also are planning multi-generational trips.  Gen X takes the most weekend getaways.

The primary mode of transportation for domestic and international travel are: plane (66% domestic & 87% international), cruises (5% domestic & 35% international), train (6% domestic & 16% international), rental car (24% domestic & 14% international), personal car (60% domestic & 13% international), and buses (2% domestic & 10% international) (AARP).

According to the same  survey, here is a more detailed look at why the three main demographic groups choose to travel in 2018:

Base:  International and Domestic Trips in 2018: Data based on 
Total Responses, up to 5 trips discussed

n = base number of responses; pink indicates most popular 
selections.

Source:  AARP “Travel Research: 2018 Travel Trends” Report 
and JB Research Company

Other reasons the three groups choose to travel are visiting family and friends, rejuvenating, and getting away from a busy life:

Source:  AARP “Travel Research: 2018 Travel Trends” Report

Many in each of these groups will choose not to travel this summer, with cost being the main impediment, as shown below:

Source:  AARP “Travel Research: 2018 Travel Trends” Report

Source:  AARP “Travel Research: 2018 Travel Trends” Report

All three generations plan to spend spend significantly more in 2018 than 2017, with Millennials planning to spend the most on vacations.

As suppliers of retail, dining and entertainment experiences, we should take note of these trends and make this the best and most profitable  year ever!

Sources:

 

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Entertainment Evolution Experience

Happy New Year Friends!

I can’t believe so much time has passed since I last wrote.  We have been very busy and had a lovely holiday.  Hope all is well with you and your family.

We are reminding you to come and join us at an exceptional conference “Entertainment Evolution Experience” to be held February 18th and 19th at LA Live! in Los Angeles.  I will be speaking on a panel entitled, “Open Air Projects – Pushing the Envelope,” where we will discuss, among other things, the need for human contact and fresh air!

We would be thrilled to see you there!

Here are the details:

Shopping Center Business and InterFace Conference Group are pleased to highlight the following panel for the Entertainment Experience Evolution Conference, February 18-19, 2015 at LA Live in Los Angeles. The multi-day conference will focus on what developers, owners, restaurants, retailers, cinemas, designers and entertainment venues are doing to evolve the consumer experience and create vibrant places to spend time.

Featured Panel:

Open Air Projects –
Pushing the Envelope

Arguably the most active type of multi-tenant retail, open-air centers have grown beyond service retail to become true community environments. Find out how amenities, restaurants, landscaping, hardscaping, and placemaking are changing open-air retail. See case studies from developers and architects on the transformation of open-air centers, from regional lifestyle centers to power centers to small community centers.

EEE - Open Air Pushing the Envelope Speakers

For a complete agenda, click here.

To reserve your spot today, click here.

Understanding Your Market – By the Numbers

Analyzing demographics and psychographics is an incredibly useful tool to assist in every aspect of feasibility testing, new product development, and simple site selection.  The process used to be cumbersome, and not for sissies!  But since the advent of MapPoint, almost anyone can do a simple version of a demographic exercise.

The Beneficial Business Features of MapPoint:

  • MapPoint has an incredibly easy demographic feature.  Choose up to 16 different demographic points at once – such as population, income, household size, and age – and  then instantly  MapPoint arrays these features by state, county, city, MSA, zip code, or even Census tract.
  • A shaded map will show the various areas by any single demographic chosen – such as number of businesses per zip code, teenagers in a particular census tract, or household expenditure patterns for any city in the United States.
  • Once the demographic factor is selected and mapped,  a radius of any number of miles around a site can be created and then instantly exported to an Excel Sheet.  With the numbers in Excel, manipulating data to get a clearer snapshot of the type of customers  in or around the site is simple.
  • Radii can be adjusted, expanded or a second radius created and then re-exported  for a new area into another Excel Sheet.  By simply copying and pasting new numbers into the first Excel sheet and repeating for other locations or radii, an instant comparison of multiple locations is created.
  • MapPoint can also find and map competitors.  The map will not only list a fairly accurate number of competitors within a preselected distance from your business, but it will also pinpoint the exact distance of a business from your site, as well as their address and phone number.
  • You can import data from an Excel Sheet, and thus map multiple addresses.  This is an ideal tool  to determine where the customers on a  mailing lists are actually located.
  • Another useful feature in MapPoint indicates expenditure per household  for various products such as electronics, books, food, etc.   This information can also be narrowed to a particular radius and census tract, thus allowing a better picture of how much money people in your area spend in a year on your products.
  • Plus, on top of all that, MapPoint offers a GPS tool, and driving directions can be created based on shortest distances, preselected locations, and fastest routes.  It can also calculate the cost of gas required to visit those locations.

BELOW IS A MAPPOINT INCOME DIAGRAM FOR A LOCATION IN GLENDALE

Glendale Income Map

Very simple.  But you might have some questions.  If you do, call or email me. (jill@jbresearchco.com, 805-640-1060)  I’ve been doing this for 20+ years, with or without MapPoint!

MEET GEN Z – YOUR NEWEST MARKET

Well, it has finally happened!  We are beginning to market to zygotes!  Yes, the new Generation Z includes kids 15 years of age and younger.  They are already being studied so we can figure out how to sell them Coke, toothpaste, soap and of course, technology.

I have some experience with the oldest of this generation, which is expected to at least equal the size of the Baby Boomers, when the final cutoff date is established.  Both my husband and son teach math to 15-year olds.  It is very strange that they both make the same assessment of their students, calling them “aggressively entitled children.”  I find it strange because one of them teaches the poorest children in our county, and the other teaches the wealthiest children in his region.  How has this happened?

These kids are treated with kid-gloves with very structured activities and schedules.  They are being raised by helicopter parents, and as such, they have tremendous capabilities and are a bit precocious.

So, here are 12 observations about and predictions for the new generation:

  1. Gen Zs have never known a world without cell phones, computers, or the Internet.
  2. They are more exposed to information, music, movies, other cultures and photos than any other generation.
  3. They can absorb a lot of information, but prefer it in short fast grabs (like Twitter).
  4. They will use their technology, small networks, and innovations to make a difference in their world.
  5. They are passionate about their interests because of the vast amount of information they can access.
  6. They are good at multi-tasking since they often use the mobile phones, computers and gaming systems simultaneously.
  7. Through multi-play computer gaming, they are learning collaboration, leadership and quick strategy planning, so cooperation and problem-solving will become second nature to them.
  8. They will be more environmentally aware than previous generations since global warming and climate change are important today.
  9. They may have more degrees, certificates and diplomas than any other generation.
  10. Many Gen Zs will have experienced unprecedented prosperity followed by significant economic turmoil before they reach adulthood.
  11. Gen Z families are smaller than previous generations.  Their parents are older and most mothers work without the guilt of past generations.
  12. Their parents range from young Baby Boomers to older Gen Yers, with the bulk of parents being Gen Xers.  Many have “traditional values.”