The Young People’s Consumer Confidence (YPCC) Index is designed to help businesses understand what young people (16-34) think about their current and future economic and employment prospects, in both developed and growth markets. The index covers 6,000 16-34 year old consumers across six countries.
The study revealed the impact of social media on careers, with one in ten young people have been rejected for a job because of content posted on their social media profile.
The survey suggests that young people need better education of the impact of social media to ensure they are not creating another obstacle to get on the career ladder.
At the top line level consumer confidence amongst young people in growth markets are twice as high as the UK and US.
Young Chinese and Nigerian consumers have the overall highest confidence levels, indexing at 39, followed closely by Brazil (37) then India (37). In comparison, Britons index at just 16 and the US at 19.
Confidence in growth markets is fuelled by optimism about their future employment prospects, with 88% firmly believing they will get a better education than their parent’s vs their counterparts in developed markets (64%).
They are also more confident about earning a higher salary (89%) where as young people in developed markets are less certain (60%).
6000 demographically balanced mobile users aged 16-34 years old across China, India, Nigeria, Brazil, the US and UK completed a survey via the mobile Internet. Additional questions were asked from a larger sample size of 17,657 (aged 16-34) about social media.