Monday
Wednesday
Consumers Cut Spending Amid Inflation, Go to Web for Deals!
Everyday consumer spending is taking a beating, with some 56% of 3,359 online shoppers surveyed April 29 to May 23 indicating that they are cutting back because of the weak economy and growing inflation, according to PriceGrabber.com’s Consumer Behavior Report, writes MarketingCharts.
(View chart of the categories in which consumers are trying to save money.)
According to the report:
42% of respondents indicated retail shopping as the primary category in which they are reducing spend.
More than one-third of respondents indicated that their top money-saving trick for retail shopping is the use of comparison-shopping websites.
Other ways consumers are reducing their retail spending is through discount and bargain shopping and using low-interest credit cards or cash.
Tax refunds to pay off debt
Some 65% of 1,328 online shoppers surveyed March 25 to April 19 said they plan to spend their tax refund.
Of that group, 45% plan to use that money on an existing loan. Of the respondents applying their refund to a loan, 68% indicated a credit card as that loan (see chart).
Even with concern about an unstable economy, 22% of tax refund spenders indicated using the refund for home improvement and 11% for a vacation.
Economic stimulus checks
Despite government efforts to increase consumer spending through the economic stimulus program, a June survey of 2,483 online shoppers found that 89% of respondents are still cutting back.
Similar to the results of the tax-refund survey, more than one-third of consumers who indicated that they spent their economic stimulus checks used them to pay off debt.
31% of online consumers spent their checks on retail shopping. Of those who spent their stimulus checks, 27% bought onvone large item and 25% spent the money immediately on multiple items.
(View chart of the categories in which consumers are trying to save money.)
According to the report:
42% of respondents indicated retail shopping as the primary category in which they are reducing spend.
More than one-third of respondents indicated that their top money-saving trick for retail shopping is the use of comparison-shopping websites.
Other ways consumers are reducing their retail spending is through discount and bargain shopping and using low-interest credit cards or cash.
Tax refunds to pay off debt
Some 65% of 1,328 online shoppers surveyed March 25 to April 19 said they plan to spend their tax refund.
Of that group, 45% plan to use that money on an existing loan. Of the respondents applying their refund to a loan, 68% indicated a credit card as that loan (see chart).
Even with concern about an unstable economy, 22% of tax refund spenders indicated using the refund for home improvement and 11% for a vacation.
Economic stimulus checks
Despite government efforts to increase consumer spending through the economic stimulus program, a June survey of 2,483 online shoppers found that 89% of respondents are still cutting back.
Similar to the results of the tax-refund survey, more than one-third of consumers who indicated that they spent their economic stimulus checks used them to pay off debt.
31% of online consumers spent their checks on retail shopping. Of those who spent their stimulus checks, 27% bought onvone large item and 25% spent the money immediately on multiple items.
Monday
Half of Adults Text, Blog, Use Other Social Media
They sleep with them, too
Over 50% of US adults use text messaging, blogging and other types of social media to regularly communicate with others, according to MediaPost, which reported results from the latest wave of Universal McCann's large-scale "Media in Mind" tracking study (via MarketingCharts).
For those 18-34 years old, the reigning form of personal communication is social media, which 85% of those in this age group say they use to connect with people they know.
Below, additional findings from the survey.
Older tech, such as email and instant messaging, are also still replacing analog communications:
22% of all American adults say they rely on instant messaging, up from 9% in 2007.
21% of adults age 18-34 rely on instant messaging, up from 14% in 2007.
Mobile media is becoming a dominant force as well, as evidenced by the pervasive use of texting:
Only 41% of US adults say they've never sent a text message, down 8% from a year ago.
Among 18- to 34-year-olds, the proportion of those who have never sent a text message has fallen to 22%, a decline of 16% from last year.
Self-publishing online and reading blog content also are growing:
10% of US adults now publish blogs. That number was only 5% last year.
Younger Americans publish blogs at twice that rate: Some 20% of US adults age 18-34 publish a blog, up from 10% last year.
About the research: Universal McCann's Media in Mind study is an annual proprietary survey of 5,000+ adults that analyzes how consumers relate to media and products in their daily lives.
Over 50% of US adults use text messaging, blogging and other types of social media to regularly communicate with others, according to MediaPost, which reported results from the latest wave of Universal McCann's large-scale "Media in Mind" tracking study (via MarketingCharts).
For those 18-34 years old, the reigning form of personal communication is social media, which 85% of those in this age group say they use to connect with people they know.
Below, additional findings from the survey.
Older tech, such as email and instant messaging, are also still replacing analog communications:
22% of all American adults say they rely on instant messaging, up from 9% in 2007.
21% of adults age 18-34 rely on instant messaging, up from 14% in 2007.
Mobile media is becoming a dominant force as well, as evidenced by the pervasive use of texting:
Only 41% of US adults say they've never sent a text message, down 8% from a year ago.
Among 18- to 34-year-olds, the proportion of those who have never sent a text message has fallen to 22%, a decline of 16% from last year.
Self-publishing online and reading blog content also are growing:
10% of US adults now publish blogs. That number was only 5% last year.
Younger Americans publish blogs at twice that rate: Some 20% of US adults age 18-34 publish a blog, up from 10% last year.
About the research: Universal McCann's Media in Mind study is an annual proprietary survey of 5,000+ adults that analyzes how consumers relate to media and products in their daily lives.
Teens Stick Together....Info for your advertisers!
TEENS MORE LIKELY TO SPEND MONEY AT PLACES THAT HIRE TEENS Struggling Companies Should Look to Hire More Teens to Build Brand Awareness
PHILADELPHIA, PA (August 4, 2008) - In the current sluggish economy -- when even teenagers are spending their money more carefully -- a large percentage of teenagers say that they would rather shop and eat at places that hire their peers.
According to a survey conducted by Myfirstpaycheck.com, a Web site that offers employment help and jobs for teens, approximately three out of four (75.7%) teenagers who responded are more likely to spend money at a store or a restaurant that hires their peers. In addition, about the same percentage (73%) of teenagers who responded said that their families are more likely to spend money at places they work.
"With retailers and restaurants facing declining revenues and rising costs, these are important numbers to consider when hiring. Teenagers are great employees because they are affordable and enthusiastic, but they are great brand ambassadors too," said Austin Lavin, CEO and Co-Founder of Myfirstpaycheck.com."
Teenagers are becoming smarter and more discerning shoppers. They said that seeing their peers working in a store or restaurant makes them think that the company cares about them and their needs. Teenagers also said that they often end up spending money when they visit friends in the workplace.
Unfortunately, this has been one of the hardest summers ever for teenagers to find employment. Myfirstpaycheck.com audience trends show that teenagers have not given up the job search and are starting to look online now for after-school jobs.
These results were obtained from an online survey conducted by Myfirstpaycheck.com teenage users. While not a scientific sampling of public opinion, the overwhelming response matches up with feedback Myfirstpaycheck.com regularly receives from employers and marketers who say that hiring teenagers is not just a good employment practice, but a good marketing practice as well.
PHILADELPHIA, PA (August 4, 2008) - In the current sluggish economy -- when even teenagers are spending their money more carefully -- a large percentage of teenagers say that they would rather shop and eat at places that hire their peers.
According to a survey conducted by Myfirstpaycheck.com, a Web site that offers employment help and jobs for teens, approximately three out of four (75.7%) teenagers who responded are more likely to spend money at a store or a restaurant that hires their peers. In addition, about the same percentage (73%) of teenagers who responded said that their families are more likely to spend money at places they work.
"With retailers and restaurants facing declining revenues and rising costs, these are important numbers to consider when hiring. Teenagers are great employees because they are affordable and enthusiastic, but they are great brand ambassadors too," said Austin Lavin, CEO and Co-Founder of Myfirstpaycheck.com."
Teenagers are becoming smarter and more discerning shoppers. They said that seeing their peers working in a store or restaurant makes them think that the company cares about them and their needs. Teenagers also said that they often end up spending money when they visit friends in the workplace.
Unfortunately, this has been one of the hardest summers ever for teenagers to find employment. Myfirstpaycheck.com audience trends show that teenagers have not given up the job search and are starting to look online now for after-school jobs.
These results were obtained from an online survey conducted by Myfirstpaycheck.com teenage users. While not a scientific sampling of public opinion, the overwhelming response matches up with feedback Myfirstpaycheck.com regularly receives from employers and marketers who say that hiring teenagers is not just a good employment practice, but a good marketing practice as well.
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