We all know how drastically lifestyles have changed in the past decade or two. Internet has brought upon a revolution all the while giving birth to a new culture adopted by a new generation. All those born between 1980 and 1999 differ in their buying choices as compared to the older generations and there are many reasons for it, one primary explanation is their exposure to technology and the internet.
In the wake of this change of interests attributed to the youth 24/7 Wall St. has conducted an extensive research with the outcome of 8 Top products that are been neglected completely by the youth or at a higher rate than other age groups. It accumulated data in all possible categories such as transportation, consumer goods, electronics, food and beverages etc, before reaching to the conclusion of these 8 products.
There is no surprise that E-mail usage has been put off with the advent of social networking websites and cheaper internet connectivity on smartphones. They would rarely use e-mail services which tend to be more formal and structured than the casual ease provided by these social website platforms. Statistical figures show that during the period December 2009 – December 2010 the time spent on e-mail usage by people in 12-17 yrs age group declined by 59% where as for people between 55-64 yrs of age it rose by 22%.
One cannot say for sure if its health consciousness or change in taste that has caused the young generation to shift from traditional beer to light beer. Just for comparison take Budweiser and its drop in sales, in 1990 more Budweiser got sold than any of the three light beer brands all combined. Two decades later history repeats itself but this time its Bud Light that got sold as much as the top four regular beers combined. Budweiser states that change is so dramatic that now a days four out of 10 people who are in their mid 20’s have never tasted a regular beer where as in 1988 this number was as low as 1.5 out of ten.
Newspapers really don’t come as a surprise, as we know its not only just newspapers but all kinds of hard copied reading material that has lost it’s worth in the youth’s eye and its not only the youth that is abandoning newspapers in favour of digital versions. Only 7% people between 18-24 yrs of age reported to have read a printed news paper a day before according to Pew Research Center for the People & the Press in 2010.
One would not have thought that cars would ever make this list but facts are farther from the common belief. Research firm Gartner brought forward a startling survey result that 46% of drivers belonging to the age group of 18 to 24 would prefer internet access over owning a car.
5. Landline Phones
The ease and functionality provided by wireless communication proved to be death strike for conventional Landline phones used in the past. Ask any youngster or even an old aged man and he would prefer a smartphone over this bulky, wired phone with limited functionality. National Center for Health Statistics showed that 51.3% of all Americans between 25-29 years of age lived in households equipped with only wireless phones in the first half of 2010.
Now this shows that the present youth is more aware and well educated about health risks related to smoking. Previous young generations have been known to smoke more than their older generation which shows a positive change adopted by the current younger generation. This can be seen by the dropping share of current smokers in the age group of 18-24 yrs which fell around 17.6% between 2005 and 2010 as reported by Center for Disease Control and Prevention.
7. Desktop Computer
The increase in computing power and decrease in size following Moore’s law has resulted in a trend of mobile computing where everyone likes to own a powerful laptop or smartphone for their daily computing needs. Data from Pew Research Center shows that 70% of youngsters own a laptop where as 57% use a desktop, whereas the trend is flipped in older age groups where 64% of those between 57-65 years own a Desktop and only 43% use a laptop.
With the rich and interactive entertainment medium at their easy disposal, youngsters don’t prefer to watch the ‘idiot box’ any more. Youngsters between 18-24 years of age watch under 24 hrs of television per week whereas the national average is around 32.5 hrs.