Shopping Styles by Age and Income Tier

December 11, 2014 IXI Services

With the holiday shopping season in full swing, we wanted to investigate the impact of age bracket and income tier on a household’s shopping style.

Showing Shopping Styles by Age and Income Tier

Source: Economic Cohorts® and data provided by GfK MRI

Shopping Styles

  • Buyers of the Best: Low price is not the objective to consumers in this segment; it’s quality that matters most. They are careful to buy the best, and brand loyalty trumps all other considerations in their purchases. They favor environmentally safe products, are extremely comfortable with new technology, and always check the ingredients and nutritional content of food products they buy.
  • Swayable Shopaholics: They shop for no other reason than that they want to; price, quality, brand, “Made in America” – nothing matters so much to them as the emotional payoff from a simple act of buying. Impulse buyers, these consumers are willing to pay extra for image-enhancing products, and easily switch brands for the sake of novelty or variety.
  • Habitualized Havers: These consumers find comfort in tradition, even when it’s just their own – they buy what they have always bought, and see little reason to change. They are brand loyal, but only in the sense that once they’ve found a brand they are comfortable with, they will stop looking.
  • Conscientious Consumers: These consumers know what they’re paying for and shop for bargains, but cost is only one of the factors they consider when shopping. Buying American products and environmentally safe products also matter. They are conscious of quality, loyal to brands and highly unlikely to try new products or make impulse purchases.

Spotlight on Shopping Habits

Let’s look at the Economic Cohorts clusters most likely to…

  • Purchase gift cards: N66. Careers First: Urbanites
  • Share opinions about products and services by posting reviews and ratings online: E22. Credit City: Young Families
  • Switch brands to use a coupon: C13. Retiring on Empty: Singles

 

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