These are Results.

Marketing Insights:
The Paycheck Effect

BACKGROUND

Research from Gallup, The University of Utah and The U.S. Bureau of Labor and Statistics support differences in shopping behavior based on payday and day of the week. 

 

INSIGHTS

Analysis of data confirms that people shop when they have more money and more time, and will pay more during payday weeks. Spending during payday weeks is 20% higher than non-payday weeks. People are also more likely to shop on the weekends.

 

OPPORTUNITIES

Brand building scheduling opportunities include flighting initiatives during key overlapping payday weeks, promoting the importance of "live" Friday viewership (gateway to weekend shopping), and sponsoring timely weekday segments.

Newly paid consumers are more likely to spend on "promotion-focused" products and services. "Prevention-focused" spending preserves their current standard of living until the next payday. Similarly, message receptivity has been shown to change as well.

Data from the Bureau of Labor and Statistics shows that Americans are more likely to shop for consumer goods and groceries on the weekends. For the latest insights from the American Time Use Survey check out the link to the U.S. BLS in the background section.

Newly paid consumers are more likely to spend on "promotion-focused" products and services. "Prevention-focused" spending preserves their current standard of living until the next payday. Similarly, message receptivity has been shown to change as well.

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Reach your target when they have money to spend; prior to key shopping days and paydays!

© 2018 by JorDigital

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