365 days of strategic thinking

Saturday, May 29, 2010

43) Boomerang Kids


Ah, the luxuries of home. The sheets are always clean, perfectly made and pulled tight, pillows arranged just so. The fridge stocked with all the fresh-picked, fanciful foods I reluctantly pass up in LA. Where naps are a given, and HBO and Showtime are just a click away.

A last minute decision had me hopping on a plane back to Palo Alto this morning. All the provided indulgences made me think of those youngins that choose to live at home after college. For me, living at home has always equaled a sort of regression, but trips home offer a glimpse at how good that life could be, and why so many grads opt-in.

According to a survey conducted by CollegeGrad.com, 80% of 2009 US college graduates moved back home after their caps were thrown. Eighty percent. That's a demographic that brands can't afford to ignore. As the legion of post-college home-dwellers continues to grow, marketers stand to gain from a good, deep look at who they are and what drives them.

Those that do go after these boomerang kids must navigate a tricky in-between time in their target's lives. Assuming that some parents foot the basic bills for those living at home, advertising may be reminiscent of ads aimed at children to get them to ask their parents to buy a certain product. A "Mom, can you pick up some [insert your product here] next time you're out?" approach. On the other hand, this group seeks products that assert their independence, even while living under Mom and Dad's roof. While the stigma of moving back home may no longer exist (according to CollegeGrads.com article), these early-twenty-somethings are still in their formative brand loyalty years, figuring out what they like, and ultimately who they are.

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