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Men & Their New Money-Spending Habits

[ 1 ] Aug. 10, 2011 | SBO Editor

Fewer men than women are altering their spending habits in light of the difficult economy, but most men (54%) are taking part in behaviors such as eating out less often, according to SymphonyIRI Group’s research of the male shopper.

It found that 44% of men report money-saving behavior such as making cleaning products last longer; 27% go to the doctor less often and are self-treating more; and 19% use at-home beauty treatments more.

More than one-third of men (35%) aim to find the lowest price by shopping multiple stores and the same percentage purchase only needed items, rather than stocking up, to keep weekly budgets in check.

“Our research shatters the stereotype of clueless men wandering around a grocery store,” said John McIndoe, senior vice president of marketing for SymphonyIRI, in a statement. “During the recent recession, men adopted money-saving strategies that point to deliberate and well thought out grocery purchase processes that are worth noting, so that CPG marketers can connect with male shoppers more effectively.

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Category: Features

  • Ramachandra T R