Mothers plan serious cutbacks on Christmas & New Year spending
Research announced today shows that 96% of mums are planning some serious cut backs this Christmas as well as tightening their belts for 2011.
With over half (53%) of mums planning to cut back on the cost of Christmas presents this year, looking for better value options and discounted items, whilst 42% plan to buy fewer presents.
Following George Osborne’s £18.5 million cuts, the deepest since the 1970s, mums are taking the lead in terms of a radical change to spending habits in order to play their part in the new “frugal economy”. Researchers spoke to 1,000 respondents to input into a ‘Marketing To Mums’ report by marketing agency Haygarth which works with brands including LEGO, Walt Disney Studio Home Entertainment, Pampers, Heinz, Dairy Crest and SCA Hygiene.
In addition to the big cutbacks in retail a surprising 85% still plan to spend the same on food for their special family Christmas Day, although 32% do plan to cut back on the cost of food for the surrounding festive period.
Surprisingly, nearly a third (30%) also plan to buy less alcohol this year and 26% plan to look for cheaper or better value options than usual.
When looking forward to 2011 the research highlighted that very few mums
(8%) plan to cut back on clothes for their children, yet nearly half (42%) will be cutting back on clothes and personal things for themselves and their husbands. Mums are also planning to slash the amount they spend on holidays, with 38% stating they plan to cut back on holidays abroad; other major cutbacks include less spending on food, toys and treats and household items.
Haygarth’s ‘Marketing to Mums’ research encompassed a series of focus groups as well as a nationwide survey and highlights just how far mums are prepared to go in order to cut back on household costs. The qualitative research also showed that mums are cynical about discounts and special offers, with many claiming that they’ve seen the price of a product they buy regularly go up prior to it being discounted.
However, all is not lost for retailers and brands. The research highlighted that mums are happy to spend more on a brand they trust and are often influenced by a variety of marketing activity, including in-store point-of-sale, loyalty schemes and special offers. Brands that acknowledge mum as the most well educated and informed shopper and offer value and relevance to mums will be rewarded with her continued trust and loyalty. The research shows that we are now entering a period when mums will be looking long and hard at the value that brands deliver to her and her family.
