Hey, big spender!
If only it were that easy during this recession-chilled holiday season to quickly identify consumers who have big bucks burning a hole in their pockets, and to reach them with targeted advertising messages.
Experian Simmons decided to take a look at consumers who were more likely to spend rather than conserve money. In a survey completed in June, they agreed with statements about frequent shopping, impulse buying and spending a lot of money.
Who are these folks?
For one thing, they’re not old enough to know better.
“Consumers who are not concerned with saving and tend to shop frequently are more likely to be younger, aged between 18 and 34,” the research company says in a report. “Since young consumers tend to be the trendsetters of the population, this age range is not only likely to buy more but also likely to start the product trends of the season.”
And what do these young spenders watch on TV?
They’re much bigger watchers of prime-time animation than the general population. They’re also more frequent viewers of other program types, including news and documentary shows and situation comedies.
“Since spenders tend to notice many types of advertising more often than the average U.S. adult, attracting their interest while they watch TV opens up yet another opportunity to make contact with these important consumers during the upcoming holiday season,” the report says.
Not surprisingly, these shoppers are more likely to have been at a mall over the past four weeks compared with the average U.S. adult. At the mall, they’re exposed to several types of advertising, both in-store and outside of stores.
“The mall is the perfect opportunity to intercept these consumers and capture their attention while they can see the products firsthand,” the report says.
Nearly 25% of big spenders say they always refer to in-store brochures. Other types of advertising to which they pay attention are signs on merchandise racks, aisle markers, free-standing displays, shopping card advertising and video monitor displays.
Outside the store, “Some types of advertising seem to be more effective at capturing this segment’s attention, such as telephone kiosks, subways, taxis and airport,” the report says. “This could be explained by the possibility that a greater number of big spenders live in more urban environments where subways, taxis, etc., are more prevalent.
Advertisements not as likely to capture their attention include large billboards, mobile billboards and buses.