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Study debunks golden age of youth

A new study from Viacom has debunked typical assumptions about the the golden age of youth, and found that as a global average, 25 is the ideal age in terms of personal happiness. The findings, from Brand Solutions International (VBSI), MTV Networks Internationals advertising and marketing sales division, has unveiled findings from The Golden Age of Youth, the largest youth market research study ever carried out by a media company.

Utilising innovative qualitative and quantitative methodology to survey over 25,000 16-46 year-old respondents in 18 countries, the key finding of the study is that a youthful outlook is no longer the sole preserve of the young and the essential meaning and traditional definition of youth has changed.

The research identifies a distinct 25-34 year-old Golden Youth stage, still actively and emotionally connected to youth culture largely ignored by marketers and advertisers who have been relying upon pure demographic information when targeting young people.

Ultimately the youth market is much larger than people traditionally think. Globally 52% of 25-34 yearolds agree they still have a lot of growing up to do, and is highest in Asian (78%) and Latin American (66%) markets. This is a lucrative target market that has largely been overlooked by media buyers and advertisers. What does it mean to be youthful?

The Golden Age of Youth study analysed the three stages of youth - Discovery (16-19 years old), Experimentation (20-24 years old) and Golden (25-34 years old) with Golden indicating that they are the happiest, most confident and financially secure of their peers.

With popular culture becoming more youthful and more accessible through TV, technology and global consumer brands, todays youth can no longer be defined by traditional demographic terms. Findings

indicate that globally people are staying younger for longer and are connected to contemporary youth pursuits for a more extensive period of time.

The fact that people are living longer is one major contributing factor along with the youthification of culture, where it has become more acceptable for older ages to indulge in youthful behaviours.

Contemporary youth can now be defined more accurately as the absenceof functional and/or emotional maturity, meaning that accepting traditional responsibilities such as mortgages and children and developing a strong sense of self-identity and perspective is occurring later and later in life across the globe.

This Golden Youth are happier, more financially secure and still interested in youth pursuits and popular culture, but not all 25-34 year-olds are the same and depending on their balance of emotional and functional maturity, four segments have emerged within the Golden Youth bracket: Settled Achievers, Nostalgic Dreamers, Ambitious Strivers and Threenagers.

Kevin Razvi, EVP and Managing Director of VBSI said: Even in these financially challenging times, people are trying to stay younger for longer. Whilst this manifests itself in a number of ways from health through to fashion, this study really drills down into the cultural aspects of their behaviour. 2534 year olds are continuing to consume music, gaming and the internet and are enjoying the pursuits of their younger years whilst benefitting from a greater level of personal and financial freedom. We therefore need to rethink what "youth" actually means and how we and our partners can approach this constantly evolving group of people.

He added, What has come to light from our research is that brands and marketers really have to recognise these new Golden Youth and speak to them in an appropriate way to make their messages heard.

A whole new market to target

The Golden Age of Youth study provides a unique opportunity for brands to approach this audience. However, it is a mistake to assume that 25-34 year-olds respond to the same marketing as teens.

They may look similar and access the same brands, but this gives rise to a youth mirage.

In fact, only 9% of this age group globally said that they would actually like to be a teenager in 2008, and agreement with this statement was lowest in developed markets: Japan (4%), Europe (5%) and the US (9%).

The study shows that Golden Youth are gravitating towards premium, understated and often luxurious brands and experiences. While teenageyouth are highly focused on material gain and employ brands to definetheir identity, Golden Youth own and enjoy premium and luxurious brands in order to affirm their identity.

This demographic requires a whole new approach. Traditional adult brands need to adopt a more youthful tone to avoid being seen as irrelevant, for instance 23% of the 25-34yr old global sample felt that financial institutions were aimed at someone older than them; while youthful brands have a new market beyond the core teenage target.

For example in the traditionally young area of technology, we found that one third of 25-34yr olds agree theyre really interested in new technology, and 66% say that they take the time to learn how things work to get the most out of them.

The best years of your life

The study highlights that for respondents, the best years of your life are no longer your school days. It is the 25-34yr olds who are most likely to agree that they are happy or content with their personal life, and theyre 24% more likely than teens to agree that they love life.

Teens feel under pressure to figure out who they are and where they are going, whilst higher income Golden Youth enjoy greater direction, combined with more confidence and more financial freedom but often without traditional adult responsibilities such as children or mortgages etc. [How will this financial crisis impact this group?]Globally, teenagers are 23% more likely than 25-34yr olds to agree that their life is more stressful, and this was particularly true in Europe and in the US.

Far from being a frivolous waste of time, remaining younger for longer is a force for good, with over 80% of the global sample believing that your 20s should be about exploring life and having fun. Those who have embraced the extended adolescence are more likely to be enjoying their current life stage. We found that of the 17% of the global sample who said theyd made some major decisions in life too early were the most unhappy and stressed group of 25-34yr olds among all the respondents.

Razvi sums up with, The Golden Age of Youth study shows us that theyouth market has increased in size and the differentiation between traditional demographic groups (16-24 and 25-34) has become blurred through lifestyle choice and spending power. This puts VBSI firmly ahead ofthe curve when its comes to delivering bespoke, creative and intelligent, multimedia campaigns for clients wishing to reach this newly identifiedGolden Youth.

Some more interesting stats uncovered by the study were:

27 ideal age to buy a house (25 in the UK, but not until youre 33 in Japan) 22 ideal age to buy a car (as young as 20 in US and UK, and as old as 29 in China)

26 ideal age for LOVE (those in Saudi Arabia want it first at 25 yrs, Italians and Mexicans put

it off until theyre 28) 23 ideal age to get a credit card - and we know this is happening much earlier particularly in

US (20yrs) 19 ideal age to travel without parents in Saudi Arabia not until youre 25 27 ideal age to be a parent 20 ideal age to lose your virginity -- and we know this is happening much earlier (no differences

by region) 22 ideal age to move out on your own 26 ideal age to start saving for retirement -- US lower at 23, Europe and LatAm at 25

Snapshot of Their Lives:

Respondents aged 25-34 that are married are significantly more likely to be happy (66%) vs.

singles (30%). Only 36% of Europeans and 39% of Asians 25-34 feel like their struggling with their current

financial situation vs. 55% in Latin America and 51% in America. 71% of 25-34s agree they feel comfortable with who they are. Those who feel most settled with

their identity live in Mexico (84%), India (83%) and Saudi Arabia (82%). Those who are least comfortable are the Japanese 26%. 35% of Europeans would find it strange if someone got married in their early 20s vs. only

20% of Americans and 18% of Japanese. In general 78% are optimistic about their future highest in Latin America (85%), lowest in Asia

(67%) and US (72%). 62% of Latin Americans felt they made life decisions too early vs. only 24% Japanese,

37% of Europeans and 50% of Americans.

Methodology The study used both qualitative and quantitative methodology to gather the opinions over several months of 25,000 respondents in 18 countries: Argentina, Australia, Brazil, China, Denmark, Germany, Holland, Italy, India, Japan, Mexico, New Zealand, Poland, Spain, Saudi Arabia, Sweden, UK and US. The survey was carried out between January and August 2008.

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