BEAUTY CARE

Survey: Women largest group among those spending less this holiday season

BY Michael Johnsen

PITTSBURGH — If it isn't bad enough that 28% of consumers plan to spend less this holiday season according to a new CivicScience poll of 2,500 consumers, the majority of those reporting that their families will be spending less are women. They are likely to be middle aged or older women, who are more likely to have children in college. Reduced spenders are also more likely to have a negative outlook on their personal financial situation and believe it’s a bad time to make a major purchase.
 
Reduced spenders are more than twice as likely to consider themselves frugal. So while they are generally more conservative in their spend, something about this year is making them tighten up even more. Perhaps it’s due to these additional attributes:
 
  • They are 54% more likely to believe it is a bad time to make major purchases given the current state of the economy;
  • They are also 50% more likely to say their personal financial situation will get worse over the next 6 months;
  • They are 42% more likely to say they manage their money poorly;
  • Those intending to spend less are 21% more likely to plan on doing 25%-75% of their holiday shopping online;
  • They are 33% more likely to always seek out online reviews before making purchases; and
  • They are slightly more likely (13%) to be very likely to tell friends/family about a product they are happy with.
According to the survey, 13% of consumers plan to spend more this year and as many as 45% of adult consumers plan to spend the same amount. A total of 15% don’t plan on doing any holiday shopping this year. 
 
The consumer who will be spending more this holiday season than last is more likely to be a millennial with a lower than average income. Due to their age, there is a higher likelihood they recently began receiving a salary or their household income is increasing, which could be a factor in their higher spending intent.
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
BEAUTY CARE

Coty to acquire digital marketing agency Beamly

BY David Salazar

NEW YORK — Coty on Monday announced that it would be acquiring Beamly, a digital marketing company focused on increasing audience size and engagement for consumer brands, particularly on social media. The acquisition will bolster Coty’s engagement capabilities on digital media and Beamly’s team will work with Coty’s in-house marketing group to do so.

“The acquisition of Beamly will address the accelerating consumer shift in time spent from traditional media to real time digital and social media channels,” Coty’s EVP category development Camillo Pane said. “ [Beamly CEO] Jason [Forbes] and his team have proven capabilities and a proprietary platform that successfully targets and engages millennial consumers. Further, Beamly will help us to accelerate the growth of our e-commerce business, and be a positive contributor as Coty advances toward becoming a highly focused, pure-play leader and challenger in beauty.”

Forbes will continue to lead Beamly under Pane’s supervision and Beamly’s New York team will join Coty at its New York office, with the marketing company’s London team keeping their current headquarters.

“We have seen our platform disrupt vertical CPC/CPV benchmarks by 9x,” Forbes said. “With Coty, we will enjoy the scale to accelerate product innovation, expanding across clients in a 'mobile first' marketplace.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
BEAUTY CARE

Eos partners with Taylor Swift in China

BY Lonni Delane

NEW YORK — Eos, the skin care brand that brought us the ever popular Smooth Sphere Lip Balm, has a huge fan base in the United States and Canada. They are expanding into the overseas market by partnering with international pop star Taylor Swift.
 
Swift will appear on Eos lip balm and hand lotion products and in a series of original content exclusively in China, Hong Kong and Taiwan beginning this month. Partnering with Swift is a strategic move for the brand in expansion to Greater China. Swift has a large following in China and will be performing in Shanghai for a second time for concert dates in November.  The China market is ripe for this kind of partnership as celebrity endorsements are a more prominent part of the country’s popular culture.
 
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?