Monday, May 21, 2012
Role reversal: Men pursuing jobs once thought of as belonging to women
Monday, May 14, 2012
Are dads the new moms?
Thursday, April 19, 2012
Younger women place more emphasis on careers, incomes
Tuesday, February 21, 2012
Men join the recovery in apparel spending
Thursday, February 16, 2012
Men more likely to be behind the cart
Friday, September 9, 2011
What women want: Less anxiety
Thursday, July 21, 2011
Still from different planets: Purchase priorities differ by gender
Friday, July 1, 2011
Women worldwide are more empowered (and stressed)
Monday, April 25, 2011
One size does not fit all
Tuesday, March 29, 2011
Not A, B or C... but some combination of the above
Once upon a time, advertisers could target consumers based on several fundamental criteria, such as age, gender, income, education, and/or race and ethnicity. One thing we’re learning as the 2011 Census rolls out is more people consider themselves to belong to more than one race or ethnic group. We live in an age where mixed marriages are common (and mixed relationships are even more common).
For more on this issue, visit this recent story from The New York Times (click to link). Also, see this story from Marketing Daily, which also focuses on the issue of multi-racial family demographics.
Implications: These days, understanding your target consumers might involve sitting down to talk with them, and transcribing their life stages, careers, hobbies, family composition and other lifestyle attributes… rather than sorting to the pre-existing terms that might be found in the traditional vocabulary of advertising.
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.
Monday, February 14, 2011
Financial infidelity
Today’s Media Post Marketing Daily provides an interesting look at something we have long referred to as as financial infidelity… that is, concealing expenditures from a spouse or significant other, either through silent spending or providing outright misinformation. Click here to read the story.
Implications: The story suggests that Gen Y members are more notorious about financial infidelity than their elders… but I wonder if that has something to do with the extreme economic circumstances that have impacted this group at a younger point in their lives.
In our on-location Elm Street Economics workshops, I have explained what the behavior of financial infidelity might look like… and that sometimes, it might even involve a form of money laundering at the household level. For example, someone indulges in the purchase of an expensive golf club at the pro shop, but doesn’t mention it to their spouse. Further, the golfer pays for the club partly in cash, partly with a household check card, and perhaps partly with a charge card. Any of the three amounts are less likely to be noticed by the spouse… so the big-ticket purchase is less conspicuous.
Do you sell a big-ticket item that might be purchased on the down-low? How could you make the purchase easier to accomplish “in bits and pieces” (do you offer a layaway program that would help move the purchase to the “up and up”)? How could you help a customer “out” their purchase intention, by helping them sell their spouse on why this purchase is a great idea? (In other words, it’s not enough for you to make the sale… how can you help your customer make the sale to their spouse/significant other?)
Indulgent purchases that had seemed “out of the question” during the great recession may be more acceptable, now that the recovery is underway. But that doesn’t mean that conspicuous consumption is back. You may still have customers who think an extravagant or indulgent purchase should be done carefully and with discretion. How can you help that become accomplished… or unnecessary?
[Note: For a counter trend to financial infidelity, see the preceding story, which follows immediately below.]
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.
Tuesday, January 18, 2011
The consumer might not be who you think
Yesterday, Advertising Age offered a story that explains one of the possible implications of that shift, explaining that more men are in control of the household’s grocery shopping chores. Click here for the full story.
Implications: It’s not enough for a company to understand who their target consumers are. They must understand, also, how their target consumer groups are changing over time. And this isn’t just about groceries and packaged goods. Who’s taking the kids to the doctor? Who’s more likely to have a commute (and thus, decide on the next vehicle the household will purchase and the gas station/convenience store/coffee shop to stop at)? Who’s more likely to purchase business apparel, and who’s more likely to plan the next family vacation? Who will balance the checkbook and pay the household’s bills?
Who will drive the decision about the product or service you sell?
Mike Anderson
Friday, October 1, 2010
Are women still hitting a glass ceiling? (And can that last much longer?)
Implications: Sorry to hear that the playing field has not yet been “leveled” effectively, according to this report. But I think the next couple of years are going to be very interesting to watch, in terms of employment.
Men, after all, took a bigger hit than women during the recession, at least in terms of job loss (according to this story from the NY Times back in February). I’ve heard from a lot of business owners during the past few years… and I’m also under the impression that companies did not cut people during the recession, they cut payroll. (Companies were not targeting people, they were targeting paychecks.) If that assertion is reasonably accurate, and if men were earning more as we entered the recession, it would only follow that men were a more attractive target in management reductions during the great recession.
Could the recession have served as an equalizing force, in terms of gender balance in the workplace? That might be important to think about… because employees (whether line-level or C-suite) are also influential consumers.
Mike Anderson
Wednesday, September 29, 2010
Thank the recession: Couples less likely to marry
Implications: If you needed any more evidence that the great recession has inspired long-term change in consumer behavior, this story provides it.
In several recent Consumer DNA workshops—where I help a group of marketing professionals explore findings in qualitative data—we’ve spent quite a bit of time talking about this fundamental point: Traditional families don’t look all that traditional anymore. In some cities, the number of adults who live in a two-adult household (but are not married) is larger than the number of people who could be described as, “Married with (1+) children.”
I’ve been looking forward to the wealth of information that should come from the 2010 census for quite some time. While most details won’t publish until early 2011, watch for more fascinating previews to be revealed beginning in October.
If you're a marketer, don’t just think of the census as a set of population statistics. Think of it as Consumer Anthropology.
Mike Anderson
Thursday, June 24, 2010
Simple problem, digital solution
As is typical on a Saturday afternoon, the store was offering a free make-over, giving consumers a chance to try-before-they-buy, and giving the store greater odds at making a sale. I asked my wife if she wanted to indulge while I shopped for the items I was looking for.
“No way,” she said. “You never know what some of those brushes and applicators have come into contact with.” Being an ignorant male, I hadn’t thought of that. (I don’t use make-up, so how would I know?) Turns out plenty of women have the same concerns. (And many are uncomfortable with having anything to do with make-up done in public.)
Out of sheer coincidence, a cool new product demonstration device was featured in this week’s issue of Springwise. It’s a mirror designed to be used at the cosmetic counter, which takes a digital photo of the customer, which can then be treated—virtually and hygienically—with samples of the make-up the store is selling. (To see the story about EZ Face, click here.) Trendwatching refers to this as a digital form of "Tryvertising."
Implications: Where do people come up with great ideas like this? By listening to people like my wife (or whomever they consider to be their target consumer).
What commonly-available tools could be modified slightly to create an extreme advantage for your company?
Mike Anderson
Tuesday, September 22, 2009
Déjà vu, circa 1970s: Women in the workforce
Implications: Women first hit the workforce en masse back in the 1970s (that’s not counting their jump into action during WWII, serving a critical role in the factories that supplied allied troops). And the more gender-balanced workplace gave way to accelerated growth for convenience appliances, prepared foods, and other items to help make their double-duty more manageable.
I’m wondering whether a resurgence in convenience items might soon follow (whether devices or packaged goods, such as heat-to-complete or grab-and-go foods). After all, we’re hearing a lot, lately, about more time in the kitchen, less dining out-of-home, etc. Is that reduced consumption of convenience or restaurant fare sustainable, if she’s pulling double-duty again?
Mike Anderson
Monday, March 16, 2009
UPDATE: More coverage on "shifting gender balance"
Back in February, I offered some thoughts on Shifting Gender Balance at Work and Home. Consider additional perspective on that topic from this recent story on ABC News, as featured during a Good Morning America segment.
Friday, February 13, 2009
Shifting gender balance at work and home?
But before you focus exclusively on the relative increase in earning power held by women, consider the corresponding impact on spending influence that might now be in the hands of men. Because a recent story in Advertising Age suggests that an equal and opposite shift might be taking place at home. With a greater concentration of women in the workplace, more men are getting involved with the operation of the household, a fact that could have huge ramifications for products and services of all kinds. The essence of the Ad Age story is simple: Ignore men at your peril.
Implications: I’ve said it before and I’ll say it again: Traditional households and traditional families don’t look all that traditional anymore.
If you’re in packaged goods, do you still assume that she’s the one doing the shopping? If you work in a business-to-business company, do you still assume he’s the one making the decisions? If you’re a retailer, is your store designed for all of your shoppers… or only those whom you used to cater to “back when?”
It is never a good time to stop assessing who your customer is… and the how’s and why’s of why those people buy. But in a climate of remarkable change like the one we’re in right now, it is even more important to consider who you’re talking to… lest you succeed at selling to someone who is no longer in charge of buying.
Mike Anderson