The findings of the Synovate 2008 Young Adults Revealed survey have been released. The survey tapped into the minds of 12 000 young people between the ages of 18 and 24, in 26 countries across the globe - 420 of which were in SA.
The young tech-savvy adult is mainly focused on establishing a good career, and according to the survey findings, three quarters of respondents rated education as key and the foundation for achieving career goals. The results show 47% of adults surveyed still live at home with their parents to derive benefits such as security, financial factors and home comforts. The survey also revealed that 82% of this group are single and 84% are child free - factors that impact on their spending patterns.
Young adults spend their salary on technology that functions both as a recreational tool and an enabler, which they rely on to balance their work, the survey reveals. The result is an increasing amount of recreational time spent indoors, with only 8% of people playing sport or exercising.
Spoiled for choice
Technology has allowed this group greater choice, as they can now manipulate their entertainment preferences, according to the survey. Instant communication also remains a priority, with 88% of this group owning a mobile phone, primarily used for SMS, calls and music. Sending photos and Internet surfing have not become regular functions for cellular users.
The Internet is growing as a source of music, the survey reveals. However, in-store purchases remain the top source for music. The young adult is also becoming increasingly mobile, as the gap between owning stereos (69%) and iPods/MP3 players (54%) has decreased. However, while the group may be tech-savvy, only a small proportion of them are early adopters. Most respondents prefer to wait for others to test new products first before making any purchases.
The survey reveals 38% of this group own or have access at home to fixed-line broadband, but they spend less than 10 hours a week online. Facebook was rated as the most popular of social networking sites (59%), but 90% of respondents still communicate via e-mail. Both these forms of communication are used to keep in touch with friends, and not used as a way of meeting new people, according to the survey.
This group of young people are also brand-aware, with the prize for the coolest, most credible brand going to Nike. Four of the top 10 brands listed are technology brands. Environmental responsibility and social involvement was also considered important, with 32% of respondents saying brands have to support good causes and contribute to society to gain support. The survey also reveals 65% are involved in personally reducing their electricity usage, while 56% are into recycling.
Young adults are facing an incredibly changing world compared to what their parents faced at this age, and this is having a profound impact on the way they behave in the market, the survey reveals.
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