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DYGDYG
“The Time Crunch Convergence”“The Time Crunch Convergence”
DYGDYG
“The Time Crunch Convergence”“The Time Crunch Convergence”
©Copyright DYG, Inc. 2003
Prepared for: World Golf Foundation
October 20th, 2003
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Presentation will cover:
A Word About DYG SCAN®
7 Trends Creating A “Time Crunch Convergence”
3 Generations Impacted by Time Crunch
Baby Boomers, Gen. X, Gen Y
Summary
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A Word About DYG SCAN
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DYG SCAN
Syndicated research program since 1987
Mission:
Provide insight into the US culture
Analyze their impact on business, marketing, communications, HR management, strategic planning, public policy
Identify critical social, lifestyle and consumer trends
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DYG SCAN
Tracks social values
Hopes, dreams, fears, beliefs about right and wrong, personal and social priorities
Also studies:
Attitudes Lifestyles
Self Image Demographic Trends
TechnologyAdaptation
Behaviors
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DYG SCAN
On-going series of focus groups
Drilling down on key topics
“Early warning system”
Secondary source research
Demographics, social indicators
National teen survey
650+ on-line interviews
National annual tracking survey
3,000 telephone interviews
Since 1987
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The most powerful social change occurs when different types of trends
converge…
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The Birth Control Pill(Technology Trend)
Reduced Social Conformity
(Social/Cultural Trend)
The 1960s Sexual
Revolution
Example: 1960s
Large Youth Cohort – Boomers
(Demographic Trend)
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7 Trends Creating a “Time Crunch Convergence”
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The Technology Trap ofEndless Improvements
The more empowered technology makes you, the more you are expected to do
Time Crunch Trend #1
(US Census)
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Strongly Agree
“These days, companies expect workers to get more done and get it done faster”
76%76%
Raised Expectations at work
(DYG SCAN)
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Not Just Expectations – the Real Deal(Worker Productivity up 24% since ’92)
Source: Bureau of Labor 1992 - 2002
Business Output Per Hour – Indexed to 1992
Source: Bureau of Labor 1992 - 2002
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Update Mandate
Compelled to constantly update:
Our devices
Phones, computers, software, TV, cameras, cars, etc.
Our knowledge
Current events, education, skills
Our values
Towards tolerance, risk, work, etc.
Key Requirement
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Time Crunch Implications
Endlessly raising expectations about what you should accomplish at work… and at home
Technological improvements are constantly out-pacing your ability to use/maximize them
Leaves you feeling guilty, that you should do more, do it better, and do it faster
Double-edge sword
Less ability to get away, take a break…
…yet greater demand & desire for relief
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The age of endless updates requires constant monitoring – thereby using up more time than before
The Media Trap Of Endless Updates#2Time Crunch
Trend #2
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Always Updating
(DYG SCAN)
44% 45%
51%54%
2000 2001 2002 2003
% Strongly Agree
I pay a lot of attention to national and global events
+10+10
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Time Crunch Implications
A good chunk of today is spent catching up on yesterday’s
E-mails
Voice-mails
Articles
News
Events
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The 500 channel universe (used to describe cable TV) now applies to almost all categories – from videos to vegetables, from cameras to cars
The Marketplace Trap of Endless Choice#2Time Crunch
Trend #3
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Want a Car?(47 Manufacturers, Hundreds of Models,
Thousands of Choices)
AcuraAston MartinAudiBentleyBMWBuickCadillacChevroletChryslerDodgeFerrariFord
GMC HondaHUMMERHyundai Infiniti IsuzuJaguarJeepKiaLamborghiniLand RoverLexus
LincolnMaseratiMaybachMazdaMercedes-Benz
MercuryMINI MitsubishiNissanOldsmobilePanozPontiac
PorscheRolls-RoyceSaabSaturnScionSubaruSuzukiToyotaVolkswagenVolvo
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Time Crunch Implications
Shopping takes a lot more energy, thought and time when you have so many choices
And we have more things/services to shop for as new categories are constantly created
15 years ago, no one shopped for cell phones, PDAs, internet provider, sports channels, etc.
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We have come to expect an experience to accompany - or replace - any product purchase
The Experience Economy#2Time Crunch Trend #4
From the doughnut - watching experience at Krispy Kreme …
… to the TV watching experience on Jet Blue
… to weekend gatherings when we buy a Harley
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“I often feel that there is not enough time in the day to do all the things I need to do”
The Experience Economy Takes Up Time
63%
69%
All Americans
Baby Boomers (age 39-57)
(Strongly agree = top 2 box on a 6-point scale)
(% strongly agree)
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Time Crunch Implications
As experiences push out mere products, there are more competitors for the consumer’s time
As more and different experiences are offered
Less consumer time is available
As consumers make more room for different experiences, each slice of the “experience pie” gets smaller
Businesses have to create smaller slices of the experiences they are selling (vacation stays, lessons, events, etc.) or increase the value of their larger slice
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Integration of all aspects of life; reduced compartmentalization
Efficiency
Generation X
Definition:
Key Value:
TrendLeaders:
Lifestyle IntegrationTime Crunch Trend #5
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24 Hour Daily “Fluidity”
At HomeAt Home
At WorkAt Work
In The CarIn The Car
Day care at work
Dry cleaning at work
Home office
“Playing”at work
Home spa
In-vehicle entertainment
Cell Phone
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Portability Becomes a SolutionKey
Theme
Work
Communication
Entertainment
Food
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Time Crunch Implications
With Fluidity and portability comes no “down” time
Experiences get chopped into smaller bits
Creates a double-edged sword
Consumers accustomed to “bite-size” relaxation
But hunger for longer, fuller “chunks” of pleasure (when they can make time for it)
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An increased focus on the wants, needs, and desires of children
Social status attached to “child-first” attitude
Parental Guilt attached to “me-first” attitude
Particularly among Generation X parents
This is a significant shift from prior generations
Child Centeredness#2Time Crunch Trend #6
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% Strongly Agree
Source: DYG SCAN® 2003Source: DYG SCAN® 2003
10+10+
65%70%
75%
200319921987
“Once You Have a Child, Your Own Needs Come Second”
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Child-centeredness in the Marketplace
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Time Crunch Implications
Parents are serving more time masters than ever before
Feelings of Guilt over time spent on self
New rationale needed to market time-intensive pleasures
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Showing off by how busy you are and by how many activities you do
Conspicuous Activation#2Time Crunch Trend #7
Signals that… I’m Young (or young at
heart)
I’m Healthy
I’m Interesting
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… how much you can do
(activities, hobbies, events)
Status has moved from purely how much you have
(money, stuff) to…
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% Strongly Agree
(Source: DYG SCAN® 2003)
My way of relaxing is doing My way of relaxing is doing as little as possibleas little as possible
In my spare time, I like to In my spare time, I like to be active and do different be active and do different
thingsthings
75%
27%48 pt. 48 pt.
differencedifference
Nothing Leisurely About Our Leisure
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Time Crunch Implications
The number – rather than the depth – of activities means less time spent on each activity
Maintaining one’s status as active, busy and involved uses up lots of time
This shift in status will most dramatically alter how Boomers spend their empty-nest years
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The Experience Economy
Technology Trap of Endless Improvements
Conspicuous Activation
The Marketplace Trap of Endless Choice
The Media Trap of 24-7
Life style IntegrationChild Centered-ness
Time Time CrunchCrunch
Summary of Time Crunch Trends
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3 Generations Impacted By Time Crunch
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Baby Boomers
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Life Stage Information
Born: 1946 to 1964(The years of very high birth rates)
Current Age: 39 to 57
Size: 78 million
BabyBoomers
Baby Boomers are turning age 50 at the rate of
10,000 a day!
One third of the adult U.S. population
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BabyBoomers
Age-less-ness
Defined: Desire to reject the traditional path of aging and be “forever young”
Obsession with youth
Desire to never be defined or limited by their age
Accelerated by Terrorism Environment
Core Values and Life Stage Interaction
(Shared by both Boomer Men and Women)
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BabyBoomers
Sandwiched
Defined: Feel they are facing multiple pressures – often coming from opposite sides
Home: Between kids and aging parents
Work: Between rising GenXer and retirement (w/o enough savings)
Culture: Between Youth domination and G.I. nostalgia (The “Greatest” Generation)
Core Values and Life Stage Interaction
(Shared by both Boomer Men and Women)
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Boomer Goals
Stay Young
Stay Healthy
Stay Relevant
Stay Active
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Boomer Retirement?
For the first time in decades, the age of retirement has started to go up instead of down
In just the last 5 years, the percent of men aged 60-64 that are working went from 45% to 50%
The percent of women age 60-64 that are working went from 19% to 27%
(Source: Bureau of Labor Statistics 2003)
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Time Implications
Less free time than anticipated for next life stage
As retirement is becoming less of an option ($$$) or less of a goal
More Competition for their time
As they experiment with many activities
Potentially more “active” activities
As they strive to look young, stay fit
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Generation X
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Born: 1965 to 1975(The years of lower birth rates)
Current Age: 28 to 38
Size: 46 million
Gen X
Busiest life stage (work, career, kids)
17% of the adult U.S. population
Life Stage Information
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Intense life period (“life building”)
Young children
Career building
New and significant responsibilities
Home ownership
Financial planning
Gen X Life Stage
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Gen X
Family
Defined: The majority of Gen Xers are focused on family issues – balancing demands of career, home and children; finding family
Their kid-focus makes this their most important life stage to date
Strong emphasis on “protecting” the kids from a dangerous world – accelerated since 9/11
The growing “Singles” minority are looking to establish their social “family”
Intersection of Core Values & Life Stage
(Shared by both Gen X Men and Women)
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Child-Centeredness
2003 1987% %
% strongly agree 77 63
Generation Xers are more child-centered than Boomers were at their age
“Once you have a child, your own needs come second”
GenX in this age group
Boomers in thisage group
Among Americansaged 25 to 29
(DYG SCAN)
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Time Implications
Less free time
As work demands more from them
Even if economy picks up, so will expenses (as their kids approach college)
More Guilt
As they feel deep obligation to family and children
More “non-traditional” activities
First generation to embrace “extreme” sports, but now with older bodies
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Today’s Young Adults
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Born: 1976 to 1985
Current Age: 18 to 27
Education: More likely to go on to college than any previous generation
Just under half of today’s HS
seniors go immediately to college
Ethnicity: Roughly one-third non-white
Young Adults
Life Stage Information
Leading edge of next generation
Most diverse
generation ever
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Starting out
Have gone from protected childhood to young adulthood
Leaving college and launching careers
Young Adults
Young Adult Life Stage: Summing Up
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Young Adults
Entitlement
Defined: A belief since childhood that they can, will, and should get the best of everything
Intersection of Core Values & Life Stage(Shared by both Young Adult Men and Women)
Optimistic view of life (glass not just half full – it’s overflowing)
Focus on fun, fame and fortune
But with little effort or risk
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Time Implications
Spend time on “Lifestyles” not just Activities
Need activities that can spill over into their fashion, language and attitude
How can Golf be bigger than just a game?
Social time a big part of “free time”
Need activities that allow easy connection of different people to come together
How can Golf best accommodate this “mixer” mindset?
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Time Implications
Less free time
As reality of adulthood takes hold
But likely to fight hard against loss of freedom
Greater Diversity to how they spend time
Generation “Whatever” always experimenting
Is your product positioned to be part of their experiment?
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Summary
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Summary
Time crunch is real
From work, home, kids, commute, life
Time crunch is also attitudinal
We accept, expect, even attempt to be busy
But, what to limit “busy-ness” to what we care about
Time crunch is LONG TERM
Structural changes in society make it so Technology, Economy, Media, Marketplace
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Time Crunch Equation
Lower the Time Commitment Consumers Must Make…
…Raise the Value Consumers Get From their Time Investment
OR
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For more information, contact DYG’s Main Office:For more information, contact DYG’s Main Office:
Phone #: 203-744-9008Phone #: 203-744-9008
[email protected]@DYG.com
