Consumer Insights Roundup: Mothers’ Day Spending to Reach US$25 Billion, 27.4% of Parents More Likely to Buy Products They’ve Seen Online…
What: A summary of the most relevant consumer insight research in the US, US Hispanic, and Latin American markets.
Why it matters: If you're trying to keep up with the latest happenings, this is your one-stop shop.
- Kantar has published the results of a study titled Trends: Mexican Consumer, Shopper and Retail, which shows that 87% of young Mexicans feel they can change the world through their actions. 71% try to purchase products in recycled or reused packaging, while 45% choose companies that follow clear and committed environmental policies.
- According to new Digital Lives Study data from the Culture Marketing Council, the 13-49 social media influencer follower market is a multicultural majority; 55% (6.7 million) of 13-17 followers are multicultural, 51% (31.3 million) of 18-49 are multicultural. Sixty-nine percent of Hispanic teens and 51% of non-Hispanic teens see the influencer as a trusted source and would consider buying the brand or service they feature.
- New research from the Harris Poll and ZestFinance shows deep dissatisfaction among most Americans with the traditional credit scoring system. More than half (54%) of loan applicants don't even have a clear understanding of why they receive the interest rate they do from a lender, while a majority (70%) say it is difficult finding lenders who will look at them as something other than their credit score. 7 in 10 American adults (71%) wish there was another way to prove themselves to credit lenders outside of the standard credit score. Hispanics (82%) and African Americans (81%) are more likely than Whites (67%) to want lenders to look at additional factors in lending decisions.
- According to survey conducted by Ipsos on behalf of Charlie Finance, 46% of American women who are single/have never been married say that they would rather be in a relationship with someone who has bad credit (credit score below 500) over someone who has a tattoo of their ex (54%). Another 45% say that they would rather go on a first date with someone who has moderate credit card debt ($5k - $10k) over someone who doesn’t vote in political elections (versus 55% who disagree). Only a third (34%) believe that being in a serious relationship brings financial security (versus 66% who disagree).
- A U.S. survey conducted by Simmons Research in August 2018 found that 27.4% of parents said they were more likely to buy products they see used or recommended by friends on social sites, higher than the one-fifth of total adult respondents. Mothers were almost twice as likely as fathers to say the same. Parents were more likely to be influenced by social ads vs. adults overall, among whom just 13.0% of total adults said they were more likely to buy goods they see advertised on social. The survey also found that 44.7% of mothers and 36.4% of fathers acknowledged that advertising “helps me learn about the products companies have to offer.”
- According to the annual survey released by the National Retail Federation, Mother’s Day spending is expected to total a record US $25 billion this year, up from $23.1 billion in 2018. A total 84% of U.S. adults are expected to celebrate in honor of their mothers and/or other women. Consumers ages 35-44 are likely to spend the most at an average $248, up from $224, and men are likely to spend more than women at $237 compared with $158.
Janet Grynberg @grynberg_janet
Janet has worked as editor and translator since 2013. After graduating with honors when receiving her Bachelor's Degree in English literature, she began working as a book reviewer for Expansión, the leading business magazine in Mexico. She has also worked as editor of young adult literature for publishing houses like Planeta and Penguin, and she's the author of a book of short stories. She's in the process of getting her MA in English at McGill University. Her interests include arts, good food, and her 8 pets.