The Insights Family has expanded its research scope to include young adults aged 19 to 30, offering insights into their consumption patterns.
- Previously focused on children and parents, the firm now aims to understand the transition of its initial cohort into young adults.
- Founder Nick Richardson emphasises the significance of tracking continuous data to maintain a comprehensive understanding of evolving consumer behaviours.
- NextGen Insights will initially operate in the US, UK, France, Germany, Italy, and Spain, providing unique data from approximately 100,000 young adults annually.
- CEO Tom Williams highlights the advantage of understanding early brand loyalty and its evolution into adult consumer preferences.
The Insights Family, a leading market intelligence company, has launched a pioneering service aimed at tracking the consumption patterns of young adults aged 19 to 30. This expansion marks a significant shift from their previous focus on children and parents, allowing them to capture data on the emerging generation of consumers that were part of their earlier studies.
Founder Nick Richardson explained the rationale behind this strategic move, stating, “After tracking the attitudes, behaviour and consumptions of kids and teens for a number of years, we have now decided to follow the cohort as they transition into young adults.” He highlighted the importance of this continuity in data collection, demonstrating how it provides organisations with the most comprehensive real-time insights available.
NextGen Insights targets young adults in several key markets, including the US, UK, France, Germany, Italy, and Spain. By augmenting their research scope to include about 100,000 young adults yearly, the company aims to offer unparalleled insights into how brand affinities developed during childhood evolve as these individuals mature.
According to CEO Tom Williams, such data offers brands substantial advantages in staying relevant with this burgeoning consumer group. It allows for an understanding of how early brand loyalty transitions into adult preferences, providing insight into media habits, purchasing power, and evolving family dynamics.
Williams also expressed personal satisfaction in seeing the project come to fruition, having begun feasibility assessments three years prior. He underscored the release of a new cross-generational report on fandom as a testament to their commitment to delivering one-of-a-kind market intelligence. The report is poised to assist retailers, media companies, and FMCG firms in crafting strategies that align authentically with their audience’s evolving preferences.
This initiative by The Insights Family positions them at the forefront of consumer research, offering profound insights into the future market.
