Women Edging Out Men In Most Shopping Categories Reports Vertis
Women wield formidable purchasing power, controlling approximately $5 trillion in spending annually, according to Vertis Communications in its “power2thewomen2.0: The Shopping Trend Revolution Continues,” proprietary white paper. Key findings from the research include: Gen X/Y shoppers are more likely to shop for value, are less brand-loyal than their older counterparts and are more likely to purchase store-brands and generic products. Gen X/Y women do not watch the most television, but cite it as being the most influential in their purchasing decisions. Boomers watch the most television, but they say advertising inserts are the most influential. Younger women utilize direct mail more than Boomer women for either in-store or online purchases.
“These findings are significant for marketers who are trying to tap into the extraordinary buying power of women, because they shine a light on how females are taking over the primary purchasing decisions for items typically handled by male shoppers and reveal important differences between generations that are often overlooked,” said Janet Tonner, Director of Research at Vertis.
Grocery Shoppers Show Intersection Of Narrow Missions & Complex Motivators
Grocery stores and food manufacturers need to reassess traditional approaches to shopper marketing, according to “Food Shopper Insights: Grocery Shopping Patterns in the U.S.” by market research publisher Packaged Facts. Packaged Facts recent study, shows that a substantial proportion of grocery shopping trips are organized around narrowly focused missions, such as purchasing items needed for the next few days or picking up groceries shoppers had run out of.
One in three were shopping to buy what they needed for a specific meal or recipe, one in five were picking up food in a grocery store rather than using fast food, and one in ten went grocery shopping because of “being hungry.” Given the prevalence of narrower missions rather than pantry-stock goals, half of grocery shoppers spent less than $50 and bought fewer than 15 items on their most recent grocery shopping trips.
American Youth, The New Big Spenders, Reports Harris Poll YouthPulse Study
Eight-year-olds to 24 year olds are ready to spend money in 2012. Two hundred eleven billion dollars, to be more precise. According to the 2012 Harris Poll YouthPulse study, over half of eight to 12 year olds will spend their own money on candy (61%) and toys (55%) while a quarter will buy books (28%) and one-in-five will purchase clothing (19%). Teens, those 13-17, still crave candy, and half (51%) will make a point of treating themselves to sweets. However, clothing (42%) and entertainment, like movie tickets (33%) have become bigger priorities for this older group.
While the purchasing power of today's youth is strong, it is made even stronger when coupled with the influence these kids have on what parents buy. For example, seven-in-ten teens have cell phones (69%) and three-in-ten have smartphones (30%). When it comes to smartphones or cell phones, one-third of teens (34%) say they influence that purchase decision. With over 23 million teens in the United States, that's a lot of influence.
‘Almost Adults’: The Next GIGANTIC Consumer Growth Engine
“Almost Adults” represent the best opportunity for many brands to maximize their margins now and in the very near future mainly due to the high earning potential, social media prowess and propensity for brand loyalty that “Almost Adults” exert for: Contract-based services like wireless phones, credit cards and insurance; Durable products like autos and appliances, Retail and restaurants in the mid-to upper-tier market, Brand name consumer packaged goods, Travel and Fashion. “Almost Adults,” a term coined by the promotion agency, Moosylvania, describes the Millennial subset of 17-24 year-old students attending two- and four-year colleges and graduate schools.
There are more “Almost Adults” than at any time in U.S. history with census figures counting 10.5 million and growing. Nearly two million graduate annually, while 3.3 million are beginning their first year of college. “While there are more ‘Almost Adults’ than ever before, they are harder to reach with branded messaging than past generations because of their high reliance on peers and family when it comes to making buying decisions,” said Rodney Mason, Moosylvania's Chief Marketing Officer.
New Survey On Homeowner Attitudes Finds Importance Of Home Is Undiminished
Despite the current turmoil in the housing market, there is an enduring, robust opportunity for growth in the home improvement market, according to a national survey released by the Meredith Corp., a leading media and marketing company serving American women.
The survey found there has been no erosion in consumer’s belief in what home represents-a good investment, a source of pride and accomplishment, and for non-homeowners, something to aspire to. Highlights of the survey include: 86% of homeowners still feel owning a home was a good investment. 85 % say they feel, “owning a home is one of their proudest accomplishments.” Of Americans that don't currently own a home, 69% agree, “No matter what happens in the U.S. housing market, owning a home is still an important goal in my life.”
The survey found that most consumers are not waiting for the housing market to bounce back before considering home improvement projects. In fact, 2 in 5 consumers (41%) report they are currently saving money to make changes to their home. 71% of those polled have spent money on their home in the past 12 months. And of those, 68% said they spent about the same or more than they spent prior to the recession. 68% plan to spend money on their homes in the next six months.
Decking & Railing Market Expected to Reach $3.4 Billion in 2011
Total demand for decking and railing in the North American residential market was up slightly in 2010 compared to 2009, and is expected to show a modest increase in 2011 to $3.4 billion, according to Principia’s new report on the industry. Total decking and railing industry value, based on manufacturers’ pricing, will increase by over 5% in 2011. This growth is driven largely by price increases for most plastic-based decking and railing as well as continued product mix shift from lower-priced uncapped wood-plastic composites (WPCs) to premium capped WPCs and cellular vinyl decking.
Steve Van Kouteren, Principal at Principia Partners, said, “The market has enthusiastically embraced the new ultra-low maintenance (ULM) decking products, including the new capped WPC decking. Ultra-low maintenance properties and the new improved aesthetics drove demand for capped WPC decking by nearly six fold in 2010 vs. 2009. We expect these trends to continue through 2011.”
