College Students are Wired and Ready to Spend: Study
College students have a full supply of electronics to stay in touch with friends during school and plenty of money to spend.
The vast majority of college students (93%) own a cell phone, a 15-point jump from four years ago. Digital cameras are in the hands of 64% of students, with another 16% planning to buy one this year, according to Alloy Media + Marketing’s 7th annual Alloy College Explorer, conducted by Harris Interactive.
Some 58% own an MP3 player, compared to a mere 17% in 2003.
However, only 14% of campuses reported full wireless capabilities four years ago. Today, that figure has doubled. Good thing, since 63% of students own laptops.
With more students (ages 18-30) attending college than ever before, this year’s class marks the largest in U.S history, with a 14% increase as 13.3 million students begin heading back to campus, the study found.
Combined, they bring $198 billion in consumer spending power, a 31% increase over 2003.
These students are also earning their keep. Three-quarters of students now report employment during the year.
Females make up more than half the student body (56%), or about 1.1 million more than reported four years ago.
The study also found that 27% of co-eds choose to stay in touch with friends via social networking sites over face-to-face communication, at 11%, or over phone, with 23%. More than half (54%) of college students (ages 18-30) visit a social networking site each day. Interestingly, 25% claimed they have “never” visited a user-generated site.
Two-thirds (66%) of students learn about brands, products and services from friends and when it comes to the type of advertising that most influences their purchasing decisions, word of mouth has soared with 61% reporting its power, compared to 48% in 2003.
Movie and electronics purchases show the heaviest peer-to-peer influence. Students cite they are most likely to look for advice across these categories at 60% and 48%, respectively. More than half of students claim friends played the deciding role in recent decision to buy a computer (57%), a digital camera (57%), or a cell phone/PDA (66%).
Students are also making purchase decisions based on the “green” movement.
Some 35% of reported feeling that people their age have the greatest ability to impact positive world change and up from last year, 37% cite they are more likely to purchase brands that are socially and environmentally responsible (33% in 2006).
The survey was conducted online by Harris Interactive between April 11 and April 30, 2007 among 1,592 adults (college students).
