It’s been a long time since I was in college. While the technology has certainly changed, the lifestyle might be very similar. Multiple people in a cramped apartment, a diet mainly consisting of ramen noodles and adult beverages and time spent looking for the best happy hour deals. Forget about smartphones, we were lucky to keep our landline turned on. New research is out that shows where college students get their income and where they tend to spend it.
● For 45% of college students, their parents are still their primary sources of income
● 40% have a job and 15% rely on loans for money
● 99% of college students spend money at restaurants and 87% spend on trips and travel (away games & spring break?)
● 70% spend at bars and the same percent spend on fashion items
● 60% spend on electronics and 59% spend on live music
● Nearly 60% buy media products (everything from books to apps)
● Close to 40% spend on off-campus gyms and fitness items
What This Means To You
College students control $404 billion in total spending, $117 billion is discretionary. But don’t just think of them as a source of revenue today, consider the fact they could be loyal customers for years to come. While these students are spending most of their money on restaurants, bars and travel today, in just a few years they will be buying better cars, houses and start investing for their future. The engagement you create today could pay dividends long into the future. While technology might have changed how many of them discover and develop affinity for products, some traditional means still has a powerful on their attention.
TV: 64% of college students watch real time TV content, and 20% watch downloaded content
Nearly half of students engage in second screening. This means they have a device that can connect to your online content while they are watching your
Mobile: Apps can help move your message to the palms of college students’ hands. Over 70% of mobile college students have game apps on their device, nearly 70% have music apps and over 60% have downloaded social apps
Social: Over 85% of college students are on Facebook and nearly 40% are on Twitter. Overall, 95% of college student use social media (refraining from an Amish joke here). When using social media to connect with college students, be sure to focus on content based engagement. One-third of college students avoid ads through social networks.
For more information on creating new customers and developing loyal patrons through targeted means, please contact:
Sources: emarketer; Sheweiki Media; Study Break; re:fuel College Explorer Study