Study: Some consumers don't let economics effect spending

Heading into the holiday shopping season and with consumers tightening their budgets by the day, a new study could help marketers make the most of their ad dollars by identifying which consumer segments are still willing to buy and which segments should be avoided. Acxiom's Retail Consumer Dynamics Study found that all consumer segments are likely to spend but how, when and what the different segments spend will vary.

by Kristina Knight

Researchers identified nine consumer segments and found that three of these segments are likely to spend greater amounts of money than the other segments.

The first is the Savvy Spender; these consumers are affluent from both younger and older demographics and are likely to live in rural or suburb-type communities. These consumers are likely to shop earlier and prefer shopping with department stores.

The second is the Tight with Purpose spenders. These consumers are likely to be married with children and are more likely to shop online this season. Most of these shoppers are professionals or have management jobs.

Finally, the My Life spenders are likely to be affluent and young and are likely to spend despite the economy because they don't have children.

All three of these segments spend according to brand but all of them are also somewhat concerned with price. These segments should be treated differently in holiday ads and the study indicates that using direct messages to target the consumers is the best way to proceed; therefore, targeting these consumer behaviorally or demographically is the best bet.