Young Adults Buying Power Tops $1 Trillion -- Demographic Continues to Grow

Young adults between the ages of 25 and 34 in the United States had an aggregate buying power of over $1 trillion in 2000, with a projected growth to over $1.2 trillion by the end of 2001. According to The Young Adult Market: Generation X Grows Up," a new report published by Packaged Facts and released by MarketResearch.com, the leading provider of global market intelligence products and services, this growth will occur despite a leveling off in population growth for the demographic.

The new report highlights the buying habits of young adults, as well as the influence they have on the spending habits of others. The Young Adult Market: Generation X Grows Up" finds that food and beverage products account for an overwhelming percentage of the expenditures of the forty million 25 to 34 year olds in the United States. Cars and trucks, apparel and footwear, and entertainment industries also showed substantial income from this population.

Although the 25 to 34 year old market has benefited from recent economic growth, and has enjoyed higher average salaries and a lower unemployment rates than in years past, affluence has continued to have a skewed distribution. For example," said Richard Koulbanis, VP of Publishing for MarketResearch.com, young adult women are more likely to have obtained a degree of higher education than their male counterparts, but the mean income of men in this age bracket is still 35 percent higher than that of women."

The Young Adult Market: Generation X Grows Up" provides profiles of various successful marketing campaigns targeted at young adults, as well as information about trends, such as Internet usage and educational attainment, that are changing the demographic. Young adults are driving the hi-tech world, forming families, and becoming an increasingly positive force in the economy," said Mr. Koulbanis. Understanding this demographic may be the most important challenge todays companies face."

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