A Demographic Reality Check: Trends, they're complicated things

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“The Fundamental Interconnectedness of all Things”

description

How can Demographics, Ethnography and Big Data work together to tell a more complete story of today's changing consumer trends. Presented at the ESRI Business Summit, 2014 by Matt Carmichael

Transcript of A Demographic Reality Check: Trends, they're complicated things

Page 1: A Demographic Reality Check: Trends, they're complicated things

“The Fundamental Interconnectedness of all Things”

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We are more than our demographic profiles

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Frankie and DaleLocation: Teton County, Mt.Generation: BoomerRace/Ethnicity: White, non-HispanicHousehold: Married, 3 kidsTapestry: Factories and Farms

AlfredoLocation: Los Angeles CountyGeneration: BoomerRace/Ethnicity: White, HispanicHousehold: Married, 2 kidsTapestry: Global Roots

MichaelLocation: New York CountyGeneration: MillennialRace/Ethnicity: BlackHousehold: Boyfriend + roommateTapestry: Metropolis

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Boomer White

Man

College-Educated

Non-HispanicsuburbanHome-owner

VeteranFather

White-collar Full-time worker

middle-class

Drives to work

ChrisLocation: Las Vegas CountyGeneration: BoomerRace/Ethnicity: White, non-HispanicHousehold: SingleTapestry: Family Portrait

Divorced

Part-time custody

Single-person household

Underwater-mortgage

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1… 2

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T R E N D

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Mobile techMarried later

Living at home

Helicopter parents

UrbanRenter

Driving less

twenty-something

Bi-racial couple

Rising healthcare costs

middle-class

Entitled

“The Monocle Returns”

“In a New Trend in Hair Removal, Women Prefer the Natural Look”

“Baby Boomers Are Drawn to Green and Eco-Friendly Funerals”

We have reached Peak___ Auto/Beard/Oil

_______ is the future

“Online Merchants Home In on Imbibing Consumers”

“It’s Hip to Be Round – Potbellies are in”

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Photo: notahipster/Flickr

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Photo: alicehenneman/Flickr

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Photo: sweetonveg/Flickr

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Decline in Detroit

“Detroit's decline has been going on for a long while. In the face of growing foreign and domestic competition, auto companies merged, or quit, or moved out of town to get closer to markets... The U.S. Government lists Detroit as an area of "substantial and persistent unemployment.''

TimePhoto: Angela Anderson-Cobb/Flickr

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#letsboogie

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Demographics

• Identify big trends• Locate Markets in Space

Big Data

• Connect trends to consumers• Aggregate individuals into marketsE

thnography

• Better understand customer• Better understand trends