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TLDR: AMP Agency conducted a survey, ‘How the Class of 2016 Will Change the World of Marketing’ to try to understand the implications of this generation’s behavior on brands and consumers in the marketing realm. To get this information, we went straight to the source and surveyed 153 college freshmen from the Boston area on their media consumption, marketing attributes, and affinities. Coming out of our survey four years ago we learned: There were over 22MM + College Students in the U.S. On average, they own 6.4 tech devices They spend 14.4 total hours with tech devices daily They have over $405 billion in total spending power They talk to parents 27.7 times per week on average 74% of them expect to graduate debt free We also predicted that this class of 2016 would change the future of technology and marketing as we know it in the following ways: The College Bubble Has Burst New, more cost efficient ways of experience content It’s All About Status Share and Comment - the new Show and Tell Byte Sized Consumers Ballin' on a Budget Media on Demand "It's not online and offline. Its online or asleep" Now that this Class is graduating, we've taken the time to reflect on our predictions and analyze if they did in fact come true, while providing another outlook on our assumption of the landscape for 2020, which we believe might look something like this: Data is King Thanks to advancements in technology and a continually decreasing cost of entry, big data will be easily enabled and managed Increased Demand for Video Content Video content will continue to dominate screen time Mobile eCommerce will Drastically Increase Be prepared for mobile shopping to skyrocket by 2020 So is your company ready for 2020? We are here to help. We are a team of 200+ talented characters who love creating smart ideas for today, tomorrow and beyond. Click here to contact us to learn more.
This month's guest blogger is a member of one of the most sought after consumer demographics ' a college student. We spoke with Jon, who is 22 years old, and currently finishing up his senior year at Bentley University in Waltham, MA. Here are his responses to the questions we asked him: 1. What kind of shopper do you consider yourself to be? I would like to think that I buy what I need when I need it, but that doesn't usually end up being the case. I'll admit, I also fall victim to many fads and desperately can't wait until I can get my hands on newer products. After I buy something that's 'in'? I get tired of it and want the newest version of it when it comes out. There's always room for improvement, but unfortunately my bank account can't keep up. 2. What do you look for in the brands you use? Usability for sure. Why buy something that won't do what you need it to do? It also depends on what it is I am buying. I couldn't care less who makes my clothes or what shampoo will give me the most nutrients or whatever. The brands of my big kid toys matter to me: MP3 players, cameras, TVs ' you don't mess around with that stuff. If I'm going to drop a couple hundred on something, it better be best in class. 3. Which brand do you feel best describes your personality? Why? I'd say that Apple would best describe my personality for a few reasons. First off, Apple is always looking to improve its products based on feedback on previous products. Like that, I like to think that I learn and grow from my personal experiences to continuously change how I live my life. If I were an Apple product, I'd probably be iTunes. I'm fun and outgoing and love to have a good time. And plus, who doesn't love their iTunes??? 4. What is one thing you could not live without? I'm obsessed with my BlackBerry. It keeps me connected to everything in my life. I've got my Facebook and Twitter at my fingertips to let me know what my friends are up to. I can keep up with the Red Sox and the rollercoaster ride of emotions they put me through every season. It even has a pretty decent camera to take pics of those random moments that need to be captured. Oh, and I don't own a watch so it tells me what time it is too. I'd be so lost without my BlackBerry. 5. What is your biggest concern as you prepare to finish up college? I am lucky enough to have landed a job right out of college. The biggest problem I think I will face will be handling my money. The paychecks I will be getting every two weeks will be the biggest checks I have ever been given. I have to prepare myself to not get in the habit of spending so frivolously. I'm going to have to budget for rent, bills, and food first no matter what. Something tells me that's easier said than done though. 6. What will you miss most about college? In the time I've been at college, I have grown extremely close so my group of friends. Every year at the end of the year, we've had the comfort of knowing that come September we would see each other again for another year of shenanigans. This time it's completely different. We're all from all over the country and we won't be able to see each other as often as we would like since we're all starting our careers. It's going to be difficult dealing with not having my closest friends around me all the time. 7. Do you anticipate the brands/products you use will change after college? Why/why not? After college I know I'll have to manage my money way better and with that, the stuff I buy may change as well. While I don't pay attention to the brands I buy for little things like detergent, paper towels, or toothpaste, I may need to look at brands besides the big names for luxury items in my life. I mean, maybe Apple products aren't all they're cipro purchase online hyped up to be? 8. What advice would you give to an incoming freshman who will be living away from home for the first time? Buy in bulk as much as you can by joining a wholesale club. I got a Costco membership my freshman year of college and have been so glad I did ever since. They legit have EVERYTHING you will need to survive in college: plasticware, solos cups, toilet paper, late night food snacks, ramen, you name it they probably have it and a lot of it to offer. It will save you many trips to the regular store and money too. 9. If you had a million dollars, what would you buy? If I had a million bucks, the very first thing I'd get is a sick penthouse overlooking a city. It wouldn't have to be in Boston just in a city somewhere. I'd fill it with tons of cool gadgets and electronics too, like huge TVs and stereo systems, the works. I'd also have to get a car since I'm currently lacking one and wouldn't mind just having one to drive around in, maybe two. With whatever's left I'll try to get rid of some student loans, but definitely the penthouse and car(s) first. 10. What is the most important thing you've ever done in your life? The most important thing I have done in my life is gone away for college. It's a wild world out there and I think college is an essential transition period to ease the changeover to the real world. That small amount of independence has helped me learn to manage my time and my money better than I could have if I didn't go away for school. The last four years have been the best ones yet and I am happy I experienced them.