According to the U.S. Census, 45 percent of adults were single in 2017, and this figure is expected to rise worldwide. Singledom is a trend that brands need to pay attention to, especially as this group represents an economic powerhouse, with new needs and new standards of living. Single people buy houses, spend more on travel and tend to be more highly educated than their married counterparts, according to a report by JWT Intelligence, who calls this trend ‘The Single Age’.
At CEW’s upcoming webinar, The Single Age: Trends Shaping the Future Beauty Consumer, Emma Chiu, JWT’s Creative Innovation Director, will discuss the cultural shift towards singledom, why it’s happening, how businesses can keep up and which brands are leading the conversation. Topics to be discussed include:
Changing Norms: A host of new cultural narratives and mediums are redefining the single experience as something that’s not only okay, but aspirational. As a result, consumers are beginning to celebrate singleness, with events such as Galentine’s Day and Singles Awareness Day. Notably, Alibaba’s Singles Day shopping festival made a record-breaking $31 billion on November 11, 2018.
Brand messaging: Many brands lack the right approach to this market. Recently, several companies have come under fire for outdated messaging and single-shaming. In a 2018 study from Hill Holliday’s Origin and Match Media Group, nearly half (48%) of single women said they were “non-existent” in advertising, and 44% did not think they were fairly represented.
Top trends: From finances to living arrangements to sexual wellness products, there are a variety of trends presenting unique opportunities to offer market solutions for single men and women. Brands that don’t consider the major shifts of The Single Age will miss out on capitalizing on this rising demographic.
CEW’s The Single Age webinar will be held at 1p.m. EST on Wednesday, July 24. Member tickets are $50; non-CEW member tickets are $75. To register, click here .