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SymphonyIRI Quarterly MarketPulse Survey Finds Gen-Xers Practicing Frugal Ways
Posted: October 24, 2012
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Of course, it takes some planning and forethought to save a buck, so Gen-Xers also do their homework before heading to the store. A whopping 69% make shopping lists and use a variety of tools in their list-making process: 49% review circulars, 48% use coupons, 14% leverage the Internet, and 10% refer to a retailer’s website. When it comes to list making, Gen-Xers’ coupon, Internet and retailer website usage is comparable to millennials and higher than boomers and seniors.
From Slackers to Tech Leaders
Generation Y, or millennials, are often touted as the most tech-savvy generation, but Generation X is actually right on par with millennials and much more “wired” versus boomers and seniors in a number of ways when it comes to CPG-related behaviors.
- 52% download coupons from manufacturer websites, 51% download coupons from retailer websites, and 51% download coupons from couponing sites, such as SmartSource.
- 38% research products online, and 35% visit deal sites, such as Woot and Groupon.
- 31% use social media sites, such as Twitter and Facebook, to get coupons, and 23% look for updates from retailers/manufacturers via email/text message, while 18% research products on blogs.
SymphonyIRI Shopper Sentiment Index
In Q2 2012, SymphonyIRI launched its Shopper Sentiment Index to shed light on purchase behavior in terms of price sensitivity, brand loyalty and changes in spending required to maintain desired lifestyles. With a benchmark score of 100 based on Q1 2011 information, a Shopper Sentiment Index score of more than 100 reflects consumers that are less price driven, more loyal to favorite brands and more easily have the ability to maintain their desired lifestyle without changes.
Latest findings from the Shopper Sentiment Index reveal that overall sentiment inched up to 99.4 in Q3 versus 97.8 just one quarter prior. This nearly mirrors the 99.5 experienced in Q1 2012, reflecting a rebound from the dip that occurred in the second half that year.
When looking at the Index by age group, sentiment for millennials, those aged 18–34, saw the sharpest uptick last quarter, while other age groups also increased, but to a lesser degree. Despite this most recent uptick, millennials are still lagging behind their elders when it comes to views of their own personal financial rebound.