Mo Not all generations willing to sacrifice: Allen & Gerritsen Survey reveals the spending priorities for Generation X, Generation Y and Boomers
WATERTOWN, Mass.--(BUSINESS WIRE)--Though the economy and consumer optimism are beginning to lift, lessons learned by consumers during this recession will not soon be forgotten, according to an Allen & Gerritsen audience intelligence survey of 456 moms.
“During the holiday season and into 2010, retailers should emphasize the quality and durability of their products rather than just outward style or "cool" factor,” said Andrew Graff, CEO of Allen & Gerritsen. “The more meaningful and long-lasting they can make their product seem, the more moms are apt to buy.”
The recession has prompted moms to step back and take a long, hard look at purchasing decisions. Their revised criteria boils down to, “Is this product or service a necessary part of my life?”
The survey explored generational aspects of spending, finding that Boomer (54%) and Generation X (45%) Moms are more willing to completely eliminate things they feel are unnecessary than their Generation Y (37%) counterparts.
Interesting generational priorities surface in regards to spending – Gen Y is focused on maintaining their connection with the world through technology and “going out,” Gen X cares about preserving their entertainment both in and out of home, and Boomers have gravitated towards a more restrained home-based lifestyle – but aren’t giving up life’s little luxuries like salon hair coloring.
Overall, moms surveyed (70%) consider cable programming a necessity while 63% still need to go out to restaurants and buy new clothes or accessories.
Necessary items don’t always translate into purchased items, with moms stressing the importance of their laptop or smartphone, yet only 35% spending money for new communication technology and most (69%) cutting back on what they are willing to spend.
“The survey reveals fundamental differences in generational mindset,” said Catherine Sheehan, Audience Intelligence Planner at Allen & Gerritsen. “We see a sharp generational divide between a willingness to sacrifice and go without, versus a determination to find a balance that lets you hang on to the things you love doing, even if it’s in a modified form.”
Download the complete survey report and accompanying graphics via www.a-g.com or by clicking here.
About Allen & Gerritsen
Always focused on what’s next, Allen & Gerritsen (a&g) strategically combines technology, creativity, media and analytics to develop digital, experiential and traditional branding experiences. Ranked by Advertising Age as one of the Top 50 Independent advertising agencies in the US, a&g creates conversations and builds connections that contribute to the bottom line. Their roster of global, consumer and BtoB clients includes the Berklee College of Music, Bright Horizons Family Solutions, The Boston Celtics, Fallon Community Health Plan, Hannaford Supermarkets, KemperSports, MFS Investment Management, Ninety Nine Restaurants, New England Baptist Hospital, Toy State, Waters Corporation and Zildjian.
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