RetailMeNot just introduced a new consumer demographic called the "household enthusiast," better known as the shopper that holds the most buying power in a U.S. household. Spanning generations, these enthusiasts can be millennials or Generation Xers, often live with at least one other person, can include children and spouses, but always make the final decision on items purchased for the home.
According to the report, household enthusiasts generate 15% more income than the average consumer and shop online about 3.6 times per month (in store 5 times per month).
Compared to the general millennial, this enthusiast spends 51% more in a six-month period. And discounts reign supreme for these shoppers, as 76% say that an offer or discount is the deciding factor in a product purchase they are considering. Discounts trump the offer of free shipping, 58%; positive online reviews, 35%; and dire need, 33%.
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So what does the household enthusiast shop for? About one-third, 34%, shop for groceries, and 20% purchase staples such as clothing, health and beauty products.
Shopping for multiple people in the household has made the enthusiast a savvy consumer, as 89% actively compare prices across brands. And eight out of 10 respondents are multitasking while shopping online or in-store.
In addition, 84% of enthusiasts are usually shopping via mobile devices because it allows them to shop anywhere at any time.
And finally, the enthusiast responds to personalization, as more than half, 53%, say a personalized shopping experience would make them more likely to be loyal. In addition, 67% were happy to get personalized email reminders from brands and retailers with offers and 56% went as far as to want a special email on their birthday.
“The household enthusiast represents a large and important consumer segment for retail and brand marketers,” said Marissa Tarleton, chief marketing officer for RetailMeNot, in a 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.”