APRIL 06, 2015

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Millennials Value the Sensory Experience of Print

Millennials (defined in this study as those born between 1982 and 2004) are considered by many to be a digital-only generation with little interest in traditional media, but a new white paper from Publishing Perspectives and Publishing Technology finds that this is not quite the case. While they are big fans of digital products, 72% read print newspapers or magazines, 70% watch traditional television, and 56% listen to traditional radio. The report focuses mainly on books, which 79% of Millennials read in print. eBook reading is still on the rise, but no device has yet captured the same share of Millennial readers: 46% read books on their tablets, 36% on their mobile phones, and 31% on eReaders. The reasons many Millennials prefer print books is that they feel they retain more information and skim less when reading in print. When it comes to finding new books to read, word of mouth remains the most common path to discovery, but online also plays a significant role: 34% of Millennials learn about new books through social media, 32% utilize reading apps, and 21% participate in online communities like Goodreads.

So what?

Despite common misconceptions, Millennials still enjoy and appreciate the sensory experience of reading books and magazines in print. This, however, does not mean that they discover print content in traditional ways. Publishers need to continuously innovate and find new and engaging ways to promote their print products via digital channels.

> Click here for report
Culture
Luxury Consumers Seek Upscale, Cultural Experiences

The intersection of fashion, art and film, can easily be seen in pop culture, the retail space, and advertising. Mintel’s report “The Premium Brand and Luxury Consumer” investigated luxury consumers’ participation in various high-end, cultural activities and found that luxury purchase behaviors correlate with the pursuit of upscale activities. When it comes to enjoying finer experiences, luxury goods buyers’ most common activities in the past year were: eating at an upscale fine dining restaurant, buying tickets for the theater, performing arts or other cultural event, having a spa treatment, and staying overnight in a premium/luxury hotel or resort . They also over-indexed for buying art, as they were 33% more likely than average population to have purchased original, hand-crafted artwork.

Luxuryfashionart

So what?

This report from Mintel exemplifies some of the recent shifts observed in consumer behavior; some segments of the population are opting for experiences in lieu of, or to complement goods. While luxury purchasers still place a premium on owning high-end items, they are also actively seeking cultural experiences that befit their profile. This advancing trend opens the door for Condé Nast brands to engage with audiences through additional touch points, such as the Vanity Fair New Establishment Summit.

> Click here for report
Digital
U.S. Digital Future in Focus 2015

comScore puts the Digital Future in Focus with its recently released white paper covering a broad range of topics including multiplatform, mobile, social, video, advertising, search, and e-commerce. The study reports on a number of the digital milestones that occurred in 2014 and have further shaped how Americans interact with technology and consume media, including:

  • Smartphone penetration reached 75% and mobile app usage has exploded to the point where the majority of all digital media activity is via a mobile device.
  • Traditional television viewership measurably declined as Americans shifted viewing time from linear channels to digital and on-demand platforms. 
  • A greater emphasis on ad viewability among both buyers and sellers.

The paper also offers predictions and identifies emerging trends for the year ahead specifically in the areas of ad viewability, mobile apps, short-form video, M-commerce, the Social “buy button,” native advertising, cross-platform video measurement, long-form content, and wearable technology.

So what?

This white paper is an easily digestible and comprehensive snapshot of the current digital landscape. comScore also provides useful benchmarks to which Condé Nast can measure itself against the industry, such as in the area of viewability. comScore reports that only 46% of all impressions are viewable, while CN sites collectively averaged 53% last month (March 2015 MOAT) with a number of CN sites providing as much as 70% and 80% viewability.

> Click here for report
Quick Takes
Maybelline is Teens' Most Preferred Cosmetic Brand
Statistic_id380592_leading-cosmetic-brands-amongst-us-teens-2014

Source: Piper Jaffray, Statista
The Average CMO Tenure is Now Four Years; Nearly Double the Amount of Time It Was A Decade Ago
Spencerstuart-average-cmo-tenure-2004-2014-mar2015

Source: Spencer Stuart, MarketingCharts.com
Manhattan is Most Talked About (on Yelp) Drink in New York

Rankings based on by frequency of reviews that mention each cocktail in a given city.

Counting_cocktails

Source: Yelp, The Wall Street Journal
Condé Nast
Feedback, questions, ideas for future issues? Please contact:

Phil Paparella
Condé Nast Research & Insights | Associate Director
1166 6th Avenue, 14th fl. | NY, NY 10036 | office 212.790.6044 | philip_paparella@condenast.com

Contributors:
Tamar Rimmon | Senior Manager, Digital Analytics
Robyn Hightower | Manager, Research & Insights