For Millennials living in Canada’s biggest cities, buying a home is looking farther and farther out of reach.
With the price of housing sky rocketing, many Millennials are turning to their parents to help shoulder the financial burden.
Experts from HomEquity Bank are reporting a marked upturn in parents who are inquiring about assisting their adult children financially. To help their children with down payments, many are turning to reverse mortgaging their own homes.
Unsurprisingly, Toronto and Vancouver are the two cities where this phenomenon is most prevalent. The press release states:
“The average cost of a condo in Toronto, according to information released in April, 2016 by the Toronto Real Estate Board (TREB) is $393,589. In Vancouver, according to information released in January, 2016 by the Real Estate Board of Greater Vancouver, condos now sell for, on average, $466,600.”
But not all parents are able to maintain financial self-sufficiency, along with making major gifts to their children. So what’s a Vancouver Millennial to do?
Many are choosing to move back in with their parents. A May study by Pew Research Centre showed that more American Millennials are living with their parents than any other living arrangement.
Whether through significant financial gifts or moving back into their childhood bedrooms, Millennials are relying on their parents for housing in a significant way.
Housing is one of many unique challenges facing the Millennial Generation. Contact our team to discover how we can help your business better understand Canada’s largest and most influential consumer group.
Which Millennial Type is Most Likely to Live with Their Parents?: The Pacer.
As the Government of Canada embarks on a sweeping review of the country’s cultural policies, we are pleased to share details about an upcoming national public opinion study, and to invite your organization to be a partner & sponsor of this work.
Canadian Content in a Digital Age will explore how Canadians feel about the public policy implications of the shift towards digital media and the role of public policy in supporting Canadian content creation.
Our subscription-based, syndicated study, will explore:
• How consumption preferences have changed and where are they may be heading • Thoughts about current public policy designed to support Canadian content • Priorities and expectations when it comes future policy in this area • Reaction to ideas to meet economic and cultural goals through public policy • Consideration of different demographic, regional, cultural, and generational factors
Subscribers to this project will discuss and shape areas of focus for the study, receive customized presentations of results, as well as detailed reports of our findings.
If you would like to know more about being a subscriber to this unique and timely study, please drop us a note at Bruce (banderson@abacusdata.ca) or David (david@abacusdata.ca).
Click on the image below for more details about this study:
Canada at 150 is a new syndicated study series produced by the team at Abacus Data. Studies will explore topics such as Canadian content in the digital era, marijuana, the future of unions, energy and the environment, healthcare transformation, generational disruptions, and the future of science, tech, and research in Canada.
For more information about subscribing to the syndicated studies, please contact either Bruce Anderson (banderson@abacusdata.ca) or David Coletto (david@abacusdata.ca).
In our latest survey of Canadian public opinion we included a few questions about the plans of the federal government to put additional resources into scientific research.
The findings:
• 78% believe that to “build a healthy economy for the long term Canada must invest increasing amounts in research and to attract this kind of investment from around the world.”
• In contrast, 22% believe that “research doesn’t do much for our economy today and is unlikely to be a big part of Canada’s economy in the future – our money is better spent on other things.”
• There are virtually no differences by age or region on this point, and only marginal differences between those on the left and those on the right of the spectrum.
• We also asked people to express an opinion about STEM fields (science, technology, engineering and math). A modest majority (59%) think “Canada should make a greater effort to encourage young people to study in these fields”. A substantial minority (41%) believe “that other skills are just as important or more important”.
• There were some more notable differences across different subsets of the population. Younger people were more convinced than older people that the country should be encouraging STEM studies. Those who voted Conservative in 2015 were also less inclined than others to feel this way.
• Those with more education are more convinced of the need to have more STEM students. Also, those who feel the economy is doing well are more convinced that this is the way to go.
THE UPSHOT
According to Bruce Anderson:
“Canadians know that the global economy is undergoing a transition and that future competitiveness for Canada will require change on our part — and probably constant change.
As the government reviews its approach to investing in scientific research for the future, a couple of things are clear. First, most people believe Canada can ill afford to fall behind in equipping our young people with the skills needed to propel our economy and build good futures for themselves.
Second, that Canadians also recognize that not everyone will be perfectly suited to these studies, and that Canada will require people with a range of other skills and talents too. Policy that promotes science and STEM studies, while still reflecting that “one-size-doesn’t-fit-all” sensibility will find the broadest support.”
Methodology
Our survey was conducted online with 2,000 Canadians aged 18 and over from May 17 to 20, 2016. A random sample of panelists was invited to complete the survey from a large representative panel of over 500,000 Canadians.
The Marketing Research and Intelligence Association policy limits statements about margins of sampling error for most online surveys.
The margin of error for a comparable probability-based random sample of 2,000 is +/- 2.2%, 19 times out of 20.
The data were weighted according to census data to ensure that the sample matched Canada’s population according to age, gender, educational attainment, and region. Totals may not add up to 100 due to rounding.
Abacus Data Inc.
We offer global research capacity with a strong focus on customer service, attention to detail and value added insight. Our team combines the experience of our Chairman Bruce Anderson, one of Canada’s leading research executives for two decades, with the energy, creativity and research expertise of CEO David Coletto, PhD.
If you know anything about Millennials, you likely know about our love for food.
Past generations have shown appreciation for cuisine sure, but Millennials take this to a whole new level. Indeed, entire communities of Millennials have developed around food culture, dubbing themselves “Foodies”.
What does it mean to be a part of the “Foodie” community? Well, first and foremost, a desire to try new things. Millennial Foodies pride ourselves on our adventurous tastes. No longer do meat and potatoes suffice- instead we crave tacos, sashimi, kale smoothies, and raindrop cake.
But as any good Millennial Foodie will tell you, you can’t get raindrop cake just anywhere…
Desire for unique food offerings are leading Millennials to travel far and wide to access new culinary experiences. But while you might expect travelers to target world centers like London and New York, so-called ‘Food Tourism’ is gaining popularity in places you might not expect.
Take, for example, Pittsburgh. Once known by Canadians only for its collapsed steel industry and Crosby-led hockey team, Pittsburgh is gaining traction among Millennials for its cool restaurant scene. The official Pittsburgh tourism website devotes an entire section to food. The Globe and Mail recently suggested that the city was the best city in America to eat a sandwich. Foodie ‘demigod’ Anthony Bourdain has long praised the city.
With a focus on experience rather than sustenance, Millennial Foodies are elevating tourism industries around the world.
Contact our team to discover how we can help your business better understand Canada’s largest and most influential consumer group.
Which Millennial Type is most likely to travel to Pittsburgh for a Sandwich?: The Stampeder.
As the largest and most influential consumer group, Millennial shoppers have captured the imagination of the fashion industry. But as one new study shows, Millennial consumers buy one particular product in an unexpected way.
Handbags, a product owned by most Millennial women, are subject to a long consideration process before purchase a new study suggests. A study from NPD Group showed that over 40% of women considered buying a particular bag for a minimum of one month before purchasing.
Despite having less disposable income than boomers, Millennials consumers tend to care a great deal about the quality of the products they purchase. In fact, industry experts predict that, when it comes to handbag purchases, Millennials are far more driven by design details than designer names.
Millennials’ deliberative shopping style for purses is reflective of a larger Millennial attitude. The rise of the internet allows Millennial shoppers to heavily research items prior to buying them, leading consumers to take longer (a month and up!) to consider before purchasing.
With their focus on quality and reliance on peer reviews rather than name brand reputation, purse companies are having to transform their Millennial marketing strategies.
Contact our team to discover how we can help your business better understand Canada’s largest and most influential consumer group.
Which Millennial type is most likely to research a high quality handbag?: The Achiever.
As discussed in an earlier post, Canadian Millennials are opting to travel abroad rather than domestically. But where are they staying during their backpacking adventures? Ask any Millennial and they’ll all tell you the same thing – hostels!
The more affordable counterpart to traditional hotels, hostels are distinguished by their communal facilities and younger guests. And according to a recent study, millennials are driving the hostel business into the stratosphere.
Why the Millennial interest in hostels? Well, aside from the evident cost efficiency, hostels appeal to Millennials’ desire for travel as an experience. Hostels, with their communal-based designs, are ideal for meeting other young travellers to go on excursions with. Some hostels even facilitate this, with some going so far as to offer bike rentals.
An excellent example of a hostel chain that has cornered the Millennial market is St Christopher’s Inn. Marketed as “the best backpacker’s hostel”, St Christopher’s has 20 locations across Europe that draw a younger crowd. To learn more about St Christopher’s, visit their website.
Based on Millennial attitudes, we can expect the hostel trend to continue. For example, the same study found that 87% of Millennials saw travel as a very important aspect of their lifestyle, and 86% planned to travel the globe as much as possible in their life.
With no end of Millennial travel in sight, hostels may enjoy success for years to come.
For assistance evaluating your company’s millennial appeal to employees and customers, learn about our Millennial Audit.
What Millennial Type is Most Likely to go Backpacking: The Spark
A new Abacus Data poll shows that a large majority of residents of British Columbia support or say they can accept BC Hydro’s Site C Clean Energy Project, which began construction last year.
The province-wide poll found:
• Awareness of the Site C project has reached a new high of 77% across the province and is stable at 90% in the north/northeast region.
• Across the province 73% either support Site C (49%) or can support it under certain circumstances (24%), while 25% oppose the project.
• In the north/northeast region of the province, 69% of those surveyed either support building Site C (47%) or can accept it under certain circumstances (22%), while 26% oppose the project.
Public inclination to support the project is tied to a broad view that the province will need more power in the future (89%) and that a new hydro electric dam is one of the better ways to generate that power.
Support for this project is also dependent on public confidence that parallel efforts are made to promote conservation, that the project goes through a thorough and independent environmental review, and that efforts are made to listen and respond to local impact concerns.
Majorities of those surveyed continue to feel that these conditions are being met as this project has moved forward.
According to Bruce Anderson, Chairman of Abacus Data, who designed and analyzed the poll:
“Any major project of this sort will encounter healthy public scrutiny and debate, and it’s not unusual to see growing resistance as these debates evolve. Given this, what stands out for me is the fact that people broadly believe that more power will be needed and that a new dam is probably one of the best ways to meet growing demand.
It’s not that people don’t have any anxieties about the impacts of this project, but that a better alternative is not obvious, and a certain degree of comfort has developed that this project is being handled with appropriate diligence.”
Methodology
The province-wide telephone poll of 1,000 people took place from April 15 to 24, 2016. The margin of error for the study in the province-wide sample is 3.1 per cent.
As Millennials, we have a reputation for being, shall we say, more sensitive than previous generations. A new study suggests this emotionality extends to everyday coffee purchases.
Our Millennial love of coffee is well known- after all, Starbucks’ Pumpkin Spice Lattes are the undisputed trademark for an entire subset of Millennial women. However the study by S&D Coffee and Tea, indicates that our infatuation with the beverage goes beyond taste into experiential terrain.
Part of our coffee drinking experience is a desire for sustainability. But as VICE points out, we may not know exactly what that means.
On the topic of valuing sustainability, VICE’s Nick Rose writes, “for some Millennials it meant organic, while for some, it meant environmentally friendly, and for others, it meant better taste or aroma”.
Though our definitions may differ, it is clear that a regular old cup of joe no longer meets Millennial needs. Companies are having to adapt to connect with this new generation of consumers.
Take for example Peet’s Coffee & Tea, a long standing coffee company that has acquired smaller ‘craft’ coffee producers to appeal to the Millennial crowd. By focusing on a more ‘local’ feel, Peet’s has had tremendous success reaching their desired demographic.
Given our emotional attachment to the drink, it seems that for millennials, coffee (not breakfast!) may be the most important meal of the day.
Millennial consumers have a unique perspective on food and drink. To read our research on Millennial consumer behaviour, click here.
What Millennial type is most likely to value sustainable coffee?: The Spark
With the Raptors’ exciting Eastern Conference run officially at a close, we asked Canadians how closely they were following a number of professional sports in mid-May.
Here is what we found:
26% of Canadians at least somewhat closely followed the NHL playoffs, followed by 25% who were following the Blue Jays regular season. The Raptors’ playoff run came in at third, with 24%.
There was a marked drop off when asked about PGA Golf- only 11% of Canadians said they were following it at least somewhat closely.
In contrast, the Giro d’Italia professional cycling race finished last with only 3% of respondents reported that they followed it at least somewhat closely.
Despite the absence of Canadian teams, the NHL playoffs was still followed by more Canadians than the Raptors’ playoff run or the Blue Jays’ regular season.
NHL hockey was particularly popular in Quebec, where 30% reported watching at least somewhat closely.
The only region that showed notably less interest than the national average was the Atlantic Provinces, where 54% of respondents told us they did not follow the NHL playoffs at all.
Half of Canadian Millennials reported that they followed the NHL playoffs at least a little. Older Canadians reported slightly more enthusiasm with 54% of 30-44-year olds and 59% of 45-59-year olds that reported following at least a little. The eldest cohort of 60+ was largely the same at 54%.
Men were more regular NHL viewers, with 35% following at least somewhat closely compared to 18% of women who reported the same.
After a successful and exciting 2015 season, half of Canadians we surveyed in May say they were following the Blue Jays at least a little, with one in four following the team somewhat or very closely.
The Jays were by far most popular in their home province of Ontario, where 67% of Ontarians reported following the Jays at least a little.
Quebecers were the least likely to report following the Blue Jays. Over two thirds (69%) reported not following the regular season at all. Still pining for their long lost Expos, perhaps?
The Jays were least popular among millennials (63% do not follow at all), with popularity rising alongside the age of viewers. Popularity hit its peak in the 60+ cohort- almost 3 of every 5 respondents (57%) reported following the Jays at least a little.
There was a significant gender gap in the Jays’ following- 60% of women say they don’t follow at all compared to 40% of men.
The Toronto Raptors’ ultimately unsuccessful playoff run gained them national attention – close to half (45%) of the nation reported that they followed the team at least a little:
However regionally, there were significant differences. In their home province of Ontario, 39% followed at least somewhat closely. This number dropped 30 points in Quebec, where only 9% of respondents followed at least somewhat closely.
Support was fairly consistent across the rest of the country with particular support in Saskatchewan (48% at least a little) and Atlantic Canada (44% at least a little).
The Raptors were most closely followed by Canadians aged 30-44 (25%) and aged 45-59 (27%). However Millennials and the 60+ also showed interest- 21% of each cohort followed the playoffs at least somewhat closely.
Similar to the Blue Jays, the Raptors displayed a gender gap of about 20 points. 65% of Canadian women did not follow at all compared to 45% of men.
PGA Golf proved significantly less popular than the NHL, MLB, or NBA:
71% nationally reported they did not follow PGA Golf at all. These numbers were even higher in Alberta (74%) and Quebec (75%). The remaining regions were closer to the national average.
BC is home to the most loyal following- 15% of respondents reported that they followed it at least somewhat closely.
Golf appeared to be significantly more popular with older generations. 41% of Canadians aged 60+ reported they followed PGA Golf at least a little compared to only 12% of the 18-29 cohort.
PGA Golf was the least popular sport among women of those surveyed. More than 4 out of 5 women (82%) reported that they did not follow the league at all, compared to 3 out of 5 men (61%).
THE UPSHOT:
As to be expected, the good old hockey game remains the most popular among Canadians across the country. However other pro sports teams, namely the Raptors and the Blue Jays, are catching up in popularity.
Though they have significant support in their home province of Ontario, the Raptors and the Jays do not enjoy quite the same nationwide attention as NHL hockey, even without any Canadian teams contending for the Stanley Cup. Particularly in Quebec, the teams do not have large local followings that monitor the teams closely, as with the NHL.
While we do not have data on interest in the Raptors in previous seasons, it is likely that the Lowry-led playoff run has led to increased attention. If this continues, we can expect basketball to give baseball and hockey a run for the money in terms of interest and an audience in the coming seasons.
Gender is also a significant factor, with women trailing on average 20 points to men when it comes to following pro-sports.
Age is most relevant in sports like golf, where the 60+ cohort makes up the largest fanbase.
In short, Hockey remains the most universally popular across region, age, and gender, but other pro-sports are building significant followings in sub-groups that may catch up to our nation’s favourite game.
Methodology:
Our survey was conducted online with 2,000 Canadians aged 18 and over from May 17 to 20, 2016. A random sample of panelists was invited to complete the survey from a large representative panel of over 500,000 Canadians.
The Marketing Research and Intelligence Association policy limits statements about margins of sampling error for most online surveys.
The margin of error for a comparable probability-based random sample of 2,000 is +/- 2.2%, 19 times out of 20.
The data were weighted according to census data to ensure that the sample matched Canada’s population according to age, gender, educational attainment, and region. Totals may not add up to 100 due to rounding.
Abacus Data Inc.
We offer global research capacity with a strong focus on customer service, attention to detail and value added insight. Our team combines the experience of our Chairman Bruce Anderson, one of Canada’s leading research executives for two decades, with the energy, creativity and research expertise of CEO David Coletto, PhD.
With the Raptors’ exciting Eastern Conference run officially at a close, we asked Canadians how closely they were following a number of professional sports in mid-May.
Here is what we found:
26% of Canadians at least somewhat closely followed the NHL playoffs, followed by 25% who were following the Blue Jays regular season. The Raptors’ playoff run came in at third, with 24%.
There was a marked drop off when asked about PGA Golf- only 11% of Canadians said they were following it at least somewhat closely.
In contrast, the Giro d’Italia professional cycling race finished last with only 3% of respondents reported that they followed it at least somewhat closely.
Despite the absence of Canadian teams, the NHL playoffs was still followed by more Canadians than the Raptors’ playoff run or the Blue Jays’ regular season.
NHL hockey was particularly popular in Quebec, where 30% reported watching at least somewhat closely.
The only region that showed notably less interest than the national average was the Atlantic Provinces, where 54% of respondents told us they did not follow the NHL playoffs at all.
Half of Canadian Millennials reported that they followed the NHL playoffs at least a little. Older Canadians reported slightly more enthusiasm with 54% of 30-44-year olds and 59% of 45-59-year olds that reported following at least a little. The eldest cohort of 60+ was largely the same at 54%.
Men were more regular NHL viewers, with 35% following at least somewhat closely compared to 18% of women who reported the same.
After a successful and exciting 2015 season, half of Canadians we surveyed in May say they were following the Blue Jays at least a little, with one in four following the team somewhat or very closely.
The Jays were by far most popular in their home province of Ontario, where 67% of Ontarians reported following the Jays at least a little.
Quebecers were the least likely to report following the Blue Jays. Over two thirds (69%) reported not following the regular season at all. Still pining for their long lost Expos, perhaps?
The Jays were least popular among millennials (63% do not follow at all), with popularity rising alongside the age of viewers. Popularity hit its peak in the 60+ cohort- almost 3 of every 5 respondents (57%) reported following the Jays at least a little.
There was a significant gender gap in the Jays’ following- 60% of women say they don’t follow at all compared to 40% of men.
The Toronto Raptors’ ultimately unsuccessful playoff run gained them national attention – close to half (45%) of the nation reported that they followed the team at least a little:
However regionally, there were significant differences. In their home province of Ontario, 39% followed at least somewhat closely. This number dropped 30 points in Quebec, where only 9% of respondents followed at least somewhat closely.
Support was fairly consistent across the rest of the country with particular support in Saskatchewan (48% at least a little) and Atlantic Canada (44% at least a little).
The Raptors were most closely followed by Canadians aged 30-44 (25%) and aged 45-59 (27%). However Millennials and the 60+ also showed interest- 21% of each cohort followed the playoffs at least somewhat closely.
Similar to the Blue Jays, the Raptors displayed a gender gap of about 20 points. 65% of Canadian women did not follow at all compared to 45% of men.
PGA Golf proved significantly less popular than the NHL, MLB, or NBA:
71% nationally reported they did not follow PGA Golf at all. These numbers were even higher in Alberta (74%) and Quebec (75%). The remaining regions were closer to the national average.
BC is home to the most loyal following- 15% of respondents reported that they followed it at least somewhat closely.
Golf appeared to be significantly more popular with older generations. 41% of Canadians aged 60+ reported they followed PGA Golf at least a little compared to only 12% of the 18-29 cohort.
PGA Golf was the least popular sport among women of those surveyed. More than 4 out of 5 women (82%) reported that they did not follow the league at all, compared to 3 out of 5 men (61%).
THE UPSHOT:
As to be expected, the good old hockey game remains the most popular among Canadians across the country. However other pro sports teams, namely the Raptors and the Blue Jays, are catching up in popularity.
Though they have significant support in their home province of Ontario, the Raptors and the Jays do not enjoy quite the same nationwide attention as NHL hockey, even without any Canadian teams contending for the Stanley Cup. Particularly in Quebec, the teams do not have large local followings that monitor the teams closely, as with the NHL.
While we do not have data on interest in the Raptors in previous seasons, it is likely that the Lowry-led playoff run has led to increased attention. If this continues, we can expect basketball to give baseball and hockey a run for the money in terms of interest and an audience in the coming seasons.
Gender is also a significant factor, with women trailing on average 20 points to men when it comes to following pro-sports.
Age is most relevant in sports like golf, where the 60+ cohort makes up the largest fanbase.
In short, hockey remains the most universally popular across region, age, and gender, but other pro-sports are building significant followings in sub-groups that could give the NHL a run for its money.
Methodology:
Our survey was conducted online with 2,000 Canadians aged 18 and over from May 17 to 20, 2016. A random sample of panelists was invited to complete the survey from a large representative panel of over 500,000 Canadians.
The Marketing Research and Intelligence Association policy limits statements about margins of sampling error for most online surveys.
The margin of error for a comparable probability-based random sample of 2,000 is +/- 2.2%, 19 times out of 20.
The data were weighted according to census data to ensure that the sample matched Canada’s population according to age, gender, educational attainment, and region. Totals may not add up to 100 due to rounding.
Abacus Data Inc.
We offer global research capacity with a strong focus on customer service, attention to detail and value added insight. Our team combines the experience of our Chairman Bruce Anderson, one of Canada’s leading research executives for two decades, with the energy, creativity and research expertise of CEO David Coletto, PhD.
