New retail market research [link] has revealed that shopping with partners makes people spend more, with 68 per cent of men asked saying they splash the cash more when with wives or girlfriends than when they fly solo.
However, according to the TopCashback survey [link], men also seem to keep an eye on their other half’s splurging, with 43 per cent of women stating that they’re more sensible when out shopping with their partner.
Other key findings include the fact that 23 per cent spend more when out with children (perhaps unsurprising, given the pester power factor that likely comes into play), while peer pressure also appears to have an impact on the amount that is spent. Some 23 per cent of women said they spend up to 20 per cent more when out with their gal pals.
“Sticking to a budget may seem mundane but it’s the best way to have control over money. We’re all probably guilty of making impulse purchases now and then, especially when a friend or family member has helped convince us it’s a great buy, but there are lots of ways to stay in power,” consumer affairs editor for TopCashback Natasha Rachel Smith said.
Companies considering their marketing strategies might do well to focus on facts and figures such as these if they want to successfully promote their goods and services to single men and women, as well as couples.
Getting to know your customers and working out their spending habits is invaluable to brands if they want to expand and improve year on year.