Consumer Insight - October/November 2013

Income

Consumer Insight October/November 2013

 

WHO HAS IT?

Anyone who works (with the exception of volunteers, unpaid interns and the like) can bring home the bacon — even kids, thanks to lemonade stands and lawn mowers.

WHAT's THE AMOUNT?

That’s between you and your boss, but the general consensus usually is “never enough” (let’s go into the accurateness of those feelings another day).

HOW IT'S SPENT?

Somewhat surprisingly: Wealthy consumers make splurges, but they also stay frugal a good chunk of the time. Shoppers with higher incomes can sometimes be thriftier than those with less and enjoy shopping at discount retailers and buying private-label products.

 
 

What Brands Can Do!

Fifty-four percent of shoppers believe products sold at dollar stores are just as good as other
retailers. The other half perceives the stores as having lesser quality. Brand name offerings should be promoted to attract the unsure.

Shoppers like in-store cosmetic demos, which spurs sales. Many private-label brands are
taking advantage of this and having experts on hand in drugstores.

Consumers love coupons and a good word: 33 percent were motivated to try a private-label cosmetic because of a special offer, and 26 percent of shoppers went on a recommendation from a pal. Brands can offer vouchers for buyers who refer a friend to hit both soft spots.

 

Research provided by Mintel.
Mintel is a leading global supplier of consumer, product and media intelligence. For 40 years, Mintel has provided insight into key worldwide trends, offering exclusive data and analyses that directly impacts client success. Contact Mintel at info@mintel.com or 312-932-0400. www.mintel.com.
 

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Anyone who works (with the exception of volunteers, unpaid interns and the like) can bring home the bacon — even kids, thanks to lemonade stands and lawn mowers.

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