As streaming services such as Netflix, Amazon Prime Video, and Disney+ have taken over a huge chunk of TV consumption in the United States, traditional TV is finding itself under increased pressure to defend its place as the go-to medium for entertainment, distraction, and information. And while people still spend a lot of time watching live and timeshifted TV on average, that's largely due to heavy TV usage by Americans aged 65 and above, who watch roughly 10 times as much traditional TV as young adults.
According to Nielsen, Americans aged 18 to 34 watch less than five hours of live and timeshifted TV per week. At the other end of the scale, those aged 65 and older watch more than 40 hours on average. Making this worse for the TV industry, a growing share of young adults don't watch TV at all, as they get all they need from digital sources. According to Statista Consumer Insights, 50 percent of 18 to 24-year-olds in the U.S. say that they don't watch any traditional TV, compared to just 29 percent of 55 to 64-year-olds. That share would likely be even lower for those aged 65 and older, but they have not been surveyed in this case.
With Black Friday and Cyber Monday morphing into Black Week and Cyber Week and offers starting earlier and earlier, it’s easy to get carried away in the whirlwind of deals and discounts online and in brick-and-mortar stores. And while it makes sense for retailers to take part in these “shopping holidays” to maximize sales and clear out inventory, consumers should be careful not to be tempted too much by what are often just allegedly “the best deals of the year”. Moreover, it makes sense to hold on for a second before hitting that checkout button, because regardless of potential savings there is such a thing as too much clothes or too many gadgets, to name just two popular online shopping categories.
According to Statista Consumer Insights, many consumers admit to often buying clothes they never wear. In these cases, they could have saved 100 percent off the retail price by simply resisting the urge to splurge. As our chart shows, female shoppers are more often guilty of wardrobe overload across countries. The prevalence of needless shopping varies from country to country, however, ranging from 30 percent of female respondents in the UK to just 12 percent in China. In the United States, 22 percent of women and 16 percent of men admitted to often buying clothes that end up in the bottom drawer of their dressers.
