The Netherlands is once again on lockdown and this is once again leading to shifts in consumer spending patterns. Changes in consumer behaviour can also be seen outside the loosening related product categories. This week we zoom in on the rise of streaming services. Monitor Consumer Behavior is an initiative of Validators and VU Amsterdam.
Now that measures have been relaxed considerably in the Netherlands, young people are in the lead when it comes to shifts in spending. In the past two weeks, half of 18 to 34-year-olds have spent money on food in a restaurant or takeaway, which is considerably more than in mid-January (+16%).
More people are also physically visiting shops again, it seems. More money is spent on fashion, especially among young people (+9%) and the 55+ age group (+11%). We are also spending more on gifts and greetings cards: over a quarter of Dutch people (28%) have spent money on these in the past two weeks (+6%). Among young people, this percentage is even higher, at 32%. Spending on personal transport also clearly shows that young people are going out more (+9%).
If we look at the largest increases within the categories, we see that there is again a lot of spending on hotel stays and holiday accommodation (11%) and cultural activities (9%). Here, too, we see the largest increase, particularly among young people (22%). Whereas the group that spent money on cultural activities was just as small in week 3 as it was in the previous lockdown, it has risen again since the measures were lifted. Young people are again spending a lot more money on this (+16%).
More young people spend money on streaming services
What is also striking is the growing group of young people who have spent money on streaming services (45%). In week 3, this was still 33%. This can be explained by the arrival of new streaming platforms, such as Viaplay. Also when we look at the media use, we see this clear gap between young people and the rest of the Netherlands. More than three quarters of the young people use streaming channels at least once a week, while among 35 to 54-year-olds this percentage is 49% and among people older than 55 it is even 43%.
However, it is striking that the use of streaming services among this older target group is increasing: never before has this group been so large. With this, there seems to be a certain growth opportunity for streaming services among the elderly. Certainly not an unfavourable group, because the 55+ often have more time and more money compared to younger Dutch people.
Brands often more relevant to young people
Despite the fact that older people often have more time and a deeper wallet, success in media land is often measured by the success of a product or service among young people. There is a simple explanation for this: young people are simply more sensitive to brands and are more likely to switch than older people. This is also reflected in the brand relevance in the Consumer Behaviour Monitor. Brands are more relevant to young people than to older people when it comes to travel, personal care, food, financial services and the job market.
Maartje van Will, Insights consultant at Validators: 'Only in the mobility sector are brands more relevant to older people than to younger people. But, as most streaming services are currently still a service in itself and do not show advertising to users, the advantage of higher brand relevance among young people is less valid here. It will only be a challenge to get the older Dutch to change the behaviour they have become accustomed to for years in their media consumption.'
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The Netherlands is once again on lockdown and this is once again leading to shifts in consumer spending patterns. Changes in consumer behaviour can also be seen outside the loosening related product categories. This week we zoom in on the rise of streaming services. Monitor Consumer Behavior is an initiative of Validators and VU Amsterdam.
Now that measures have been relaxed considerably in the Netherlands, young people are in the lead when it comes to shifts in spending. In the past two weeks, half of 18 to 34-year-olds have spent money on food in a restaurant or takeaway, which is considerably more than in mid-January (+16%).
More people are also physically visiting shops again, it seems. More money is spent on fashion, especially among young people (+9%) and the 55+ age group (+11%). We are also spending more on gifts and greetings cards: over a quarter of Dutch people (28%) have spent money on these in the past two weeks (+6%). Among young people, this percentage is even higher, at 32%. Spending on personal transport also clearly shows that young people are going out more (+9%).
If we look at the largest increases within the categories, we see that there is again a lot of spending on hotel stays and holiday accommodation (11%) and cultural activities (9%). Here, too, we see the largest increase, particularly among young people (22%). Whereas the group that spent money on cultural activities was just as small in week 3 as it was in the previous lockdown, it has risen again since the measures were lifted. Young people are again spending a lot more money on this (+16%).
More young people spend money on streaming services
What is also striking is the growing group of young people who have spent money on streaming services (45%). In week 3, this was still 33%. This can be explained by the arrival of new streaming platforms, such as Viaplay. Also when we look at the media use, we see this clear gap between young people and the rest of the Netherlands. More than three quarters of the young people use streaming channels at least once a week, while among 35 to 54-year-olds this percentage is 49% and among people older than 55 it is even 43%.
However, it is striking that the use of streaming services among this older target group is increasing: never before has this group been so large. With this, there seems to be a certain growth opportunity for streaming services among the elderly. Certainly not an unfavourable group, because the 55+ often have more time and more money compared to younger Dutch people.
Brands often more relevant to young people
Despite the fact that older people often have more time and a deeper wallet, success in media land is often measured by the success of a product or service among young people. There is a simple explanation for this: young people are simply more sensitive to brands and are more likely to switch than older people. This is also reflected in the brand relevance in the Consumer Behaviour Monitor. Brands are more relevant to young people than to older people when it comes to travel, personal care, food, financial services and the job market.
Maartje van Will, Insights consultant at Validators: 'Only in the mobility sector are brands more relevant to older people than to younger people. But, as most streaming services are currently still a service in itself and do not show advertising to users, the advantage of higher brand relevance among young people is less valid here. It will only be a challenge to get the older Dutch to change the behaviour they have become accustomed to for years in their media consumption.'
Do you also want free access to the Consumer Behaviour Monitor? Register here.