Background & Objectives

Transcription

1 November 2008

2 Background & Objectives FH initiated this study to gain unique insights into women s evolving roles, their expanded influence on the economy and how to meaningfully reach her in a vastly changed communications environment. Fleishman Hillard engaged the Harrison Group to take a look at her strength, her family, her career, her values and her shopping expertise in the new, post-internet economy. The three main objectives are: Shed light on the evolution of glass ceiling America Publish results to help her understand her choices and the choices her friends make in the market and at home Shift the ways marketers communicate to women consumers

3 Methodology Quantitative research was conducted with women who consider themselves successful (6-10 on a 10 point scale). Additional criteria included: All are between the ages of 21 and 70 Live in both the United States and Canada All have a total annual household income of $25,000 or more (before taxes) 89% of women qualify on these criteria Data collection took place via an online questionnaire. A total of 1607 questionnaires were completed during August and September 2008 Minimal weights were applied to known demographics Bucket sampling ensured representation of African-American, Hispanic, and high-income women A follow-up study with the same respondents was conducted in November 2008, with a particular focus on reactions to the economic slowdown

4 Spending Slowdown Across Categories Study 2 Study 1 Increase Same Decline Gap Gap Buying at stores like Sam's Club or Costco Gasoline Education/Educational services Media services (cable, broadband, etc.) Organic food Charitable donations Children's recreation Home Improvements Exercise/Gym services Clothes Birthday gifts Beauty/Salon services Crafts/Hobbies Vacation Appliances Electronics Home furnishings Entertainment Toys Shoes/Handbags/Accessories Holiday gifts Eating out Buying coffee (e.g., Starbucks) Average

5 Finding Goodness in Value I am more thoughtful than ever of every purchase I make 80 % I more carefully budget my expenditures in the current economy Since the downturn of the economy, I am more likely to buy things on sale 83 % 86 % I usually wait for something to go on sale before I buy 86 %

6 The Holidays Will Be Impacted This holiday season, my husband and I are giving each other less than we have in the past 73 % This holiday season, we are cutting back on gift giving 79 % Study 2

7 Cost-Cutting & Channel-Shifting Prevalent Changes in shopping behavior Changes in channel choice due to economic environment (Study 2) due to economic environment (Study 2) More Same Less More Same Less Using coupons Discount stores Purchasing store/generic brands more often Online Using cash instead of credit Discount clubs Shopping at discount stores more often Auctions (e.g., ebay) Buying the lowest cost item in a category Catalogs Buying in bulk to get the lower price Stand-alone retail Purchasing OTC meds at discount stores Malls Purchasing only trusted brands Using lay-away instead of credit Direct phone (e.g., Dell Direct) Doesn t Apply

8 Yet Confidence Remains Strong I am confident I will make it through this recession 2009 will be a better year financially for me 95 % 64 % Study 2

9 Momocracy: Women as CEO, CPO, CFO & COO Chief Executive Officer 79%: In the end, my opinion determines the family financial decisions Chief Purchasing Officer 74%: primarily responsible for buying groceries, toiletries and basic supplies Chief Financial Officer 55%: primarily responsible for paying the bills Chief Operating Officer 91%: the manager for the quality of my family s life.

10 Spouses Are the Top Influence; Reviews Second Top Influences: Last $100+ Purchase % Last $500+ Purchase % Last $1000+ Purchase % Spouse/significant other Online reviews Friends Other family members Expert recommendations Impulse purchase An experience/trial with the product Children Article in a magazine/newspaper Salesperson

11 Doing Due Diligence Across the Spectrum Prior to Purchase: Last $100+ Purchase % Last $500+ Purchase % Last $1000+ Purchase % Researched the item online Looked for pricing online so I am not taken advantage of Shopped around multiple stores to ensure best pricing Decided which brand to purchase Waited for the product to go on sale None of these

12 Three Key Resources: Spouse, coupons, Internet Big 3: Spouse, Internet, coupons 50% Information resources: impact & daily attention Conversation s w/ spouse Web sites you (82, 50) know well (87, 49) Coupons (86, 49) % pay attention daily Cable TV (40, 20) Conversation w/ mother (51, 22) Radio Ads (43, 14) TV News (54, 33) TV Ads (54, 25) Newspaper Stories (52,23) Brochures You Receive (59, 14) Newspaper Ads (68, 27) Conversation w/ children (66, 26) Web sites from Google search (74, 32) Conversation s w/ ext. family (72, 31) Mail Catalogs (74, 30) Conversations w/ best friend (70, 25) Web sites learned from others (79, 21) Conversations w/ experts (76, 20) Try before buy outlets (Costco) (73,19) Reality TV (14, 3) Banner Ads (25, 2) 5% 10% 90% % Essential/Helpful to my shopping (numbers in each circle reflect % say essential/helpful to my shopping, % paying attention to daily)