What are the most radical changes in American consumers’ behaviors so far in the 21st century?
Smartphone adoption and online shopping have been huge, of course. But just as sweeping, perhaps, is a collective preference of young adults to put off marriage. When it comes to economic behavior and trends, demography is destiny. And Americans’ matrimonial destiny is changing:
– The U.S. Census bureau estimates that the median age at first marriage in 2016 was 29.9 years for men, and 27.9 years for women.
– That’s up nearly three years from the 2005 median for men, and nearly 2½ years for women.
– The median age for first marriages has gone up each year since 2005, when it had stood at 27 years for men and 25.5 years for women.
– Interestingly, the age escalation for first marriages was most rapid from 2005 through 2008, before the Great Recession hit.
So what does marrying later mean to brands that need to understand the Millennials and soon-to-be marriage-age older members of Gen Z? The best way to find out is to observe, then ask. The unique Path 2 Purchase™ Platform’s location-tracking data and insights lets you do both.
– Track young adults (or any other relevant consumer segment) across 12.5 million U.S. locations, including all the outlets in the nation’s top 1,000 retail chains.
– Observe movements between relevant locations in real time.
– See data on times of day a panelist visits a location, and how long he or she stays.
– Extract what you need from a historical warehouse of Big Data, organizing it according to your target audience’s most important characteristics, including age, sex, race, income and many more variables.
Long stops at jewelry stores and bridal shops, for example, could indicate a bride-to-be who has set her wedding date. Instead of sending out a survey targeted at all female panelists 34 and under, and asking for stated responses about wedding plans and intended purchases, you would narrow down the audience for highly-accurate targeting of the most likely qualifiers. And you’d have the firm validation of knowing you’re speaking to a woman who was just at a bridal shop.
Do love and marriage still go together like a horse and carriage, as Frank Sinatra sang in a 1960s hit? Path-2-Purchase™ location data and survey solutions will get you that answer, and more. You can set up a one-on-one demo introduction to the Path 2 Purchase™ Platform and its richly visualized data dashboard, just by clicking here.