New research from RetailMeNot introduces the Household Enthusiast, a new demographic that spans generations and represents the bulk of buying power in American households—and highlights the importance of crossing generational targeting lines to target these valuable consumers.
The Household Enthusiast is part of a unique audience that spans across Millennial and Generation X demographics. They live in a household with at least one other person, often including children and spouses, and they are responsible for making the final decision on items purchased within the home for multiple people.
- These savvy shoppers generate 15 percent more income than the average consumer.
- Household Enthusiasts shop online an average of 3.6 times per month and make purchases in a physical store at least 5 times per month.
- On average, a Household Enthusiast spends 51 percent more than the millennial consumer and 18 percent more than the general deal-seeker in a 6-month period.
More often than not, receiving an offer or discount is the largest factor in decision-making for this individual. In fact, 76 percent of Household Enthusiasts say an offer or discount will be the deciding factor in a product purchase they are on the fence about—more so than free shipping (58 percent), positive online reviews (35 percent) or dire need (33 percent).
“The Household Enthusiast represents a large and important consumer segment for retail and brand marketers. These savings-minded individuals span generations, and they wield the purchasing power for their households,” said Marissa Tarleton, chief marketing officer at RetailMeNot, in a news release. “In today’s competitive retail environment, it’s more important than ever for retailers and brands to reach Household Enthusiasts with relevant, timely and personalized messages and offers.”
How the Household Enthusiast shops
A separate RetailMeNot survey showed that 74 percent of Americans say offers are a top factor when deciding where and what to buy—even more so than great customer service or a brand’s reputation. This holds especially true for the Household Enthusiast.
Primarily, they are shopping for family necessities such as groceries (34 percent), followed by style staples (20 percent) such as clothing, health and beauty products, accessories and jewelry for all members of their household.
Constantly shopping for many people across retail categories has sharpened the Household Enthusiast into savvy, on-the-go consumers:
- 89 percent actively compare prices of the same product across different brands and retailers until they are sure they have found the best deal.
- More than 8 in 10 are multitasking when shopping online (87 percent) or in physical retail locations (82 percent).
- Additionally, 84 percent are apt to do their shopping on mobile devices, most often because it allows them to shop anywhere at any time (72 percent).
Reaching the Household Enthusiast
Personalization will help any brand better reach a consumer in today’s climate, and this is very true for the Household Enthusiast. More than half (53 percent) say a personalized shopping experience would make them more likely to be loyal to a brand or retailer.
Additionally, they respond positively to curated emails:
- 67 percent enjoy personalized email reminders from brands and retailers, including personalized offers, or highlighting previously viewed products.
- 56 percent want a special email to recognize a day such as their birthday.
They also know this personalization requires communication from them, and about two-thirds (67 percent) are willing to give more information in exchange for a more personal experience.
A RetailMeNot, Inc. Household Enthusiast Study was conducted by Kelton Global between March 29, 2018, and April 5, 2018, among 531 Household Enthusiasts. This study utilized demographic data, such as age, gender, marital status, parental status, household income and household size, as well as psychographic data around shopping habits to define shopper segments within the retail marketplace. Additionally, the RetailMeNot, Inc. Incrementality Study was conducted by Kelton Global Research between Friday March 16, and Friday, March 23, 2018, among 1,018 nationally representative Americans.