BPN, the global media agency network within IPG Mediabrands, the global media and innovation division of the Interpublic Group (NYSE: IPG), today released its 2013 Retail Trends Report. They have identified four key trends that they predict will have a significant impact on shopper marketing and retail strategies this holiday shopping season and beyond.
Most pervasive is the rise of the “Mansumer” – a new breed of male shoppers created in part by the recession, who are now Chief Buying Officers for their households and make a majority of household purchase decisions.
- While the job market for men has recently improved, the lasting effects of the recession have altered the traditional “provider” paradigm. With that, the new chief buyer in the American household is the man of the house. With the rise of the “mansumer” comes a whole new set of potential seed changes in advertising, purchase patterns and common marketing practices.
- At the height of the recession, unemployment was more than 2% higher for men. Whether by choice or by need, men are now in charge of child care, shopping and household activities – and they embrace their new role and the impact they can make.
- 40% of men are now the primary grocery shopper in the household; 44% of men say they equally share in housecleaning and a whopping 86% of men agree being a man equals doing what is necessary to keep the household running. And that includes buying the holiday gifts.
- Men Shop Differently: For men, shopping activity is more functional than emotional, and the purpose is to solve a problem or meet a need. To them, the priority is convenience and most of all that their ability to make informative decision is met.
“Men don’t just shop. They buy. Through our research and analysis, we are seeing that, whether by choice or obligation, men are doing more shopping than they have in the past,” said Liz Ross, President, BPN North America and co-author of the 2013 Retail Trends Report. “These men are no longer disenfranchised; rather, they are empowered by technology and a growing recognition of the contributions they make,” she added.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts