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Retail Therapy Retail Therapy Final Report Final Report
Eric NelsonEric NelsonMeghan GabrielsonMeghan Gabrielson
Michelle KnaflaMichelle KnaflaVivian TranVivian Tran
Brittany Wooten Brittany Wooten
Table of Contents Table of Contents
Section I: Key FindingsSection I: Key Findings
Section II: Methodology and BackgroundSection II: Methodology and Background
Section III: FindingsSection III: Findings Value, Attitudes, and OpinionValue, Attitudes, and Opinion Activities to Improve MoodActivities to Improve Mood Effect of Specific PurchasesEffect of Specific Purchases DemographicsDemographics
Section IV: ConclusionsSection IV: Conclusions
Section V: RecommendationsSection V: Recommendations
Key FindingsKey Findings
Gender is related to shopping to improve moodGender is related to shopping to improve mood 17.5% of men said they shopped to improve their mood 17.5% of men said they shopped to improve their mood
while 51.9% of women said they shopped to improve their while 51.9% of women said they shopped to improve their moodmood. .
Contrary to our qualitative findings, students indicated Contrary to our qualitative findings, students indicated that they spend more time participating in alternative that they spend more time participating in alternative activities, besides retail therapy, to improve their moodactivities, besides retail therapy, to improve their mood
Men prefer to shop with others more than women prefer to shop Men prefer to shop with others more than women prefer to shop with otherswith others
Happiness is the most common post purchase emotion Happiness is the most common post purchase emotion associated with retail therapyassociated with retail therapy
Key FindingsKey Findings
18% of women will spend $26-$500/week18% of women will spend $26-$500/week
12% of men spend $26-$500/week12% of men spend $26-$500/week
Women feel best after spending money on Women feel best after spending money on clothing and travelclothing and travel
Men feel best after spending money on special Men feel best after spending money on special interests and entertainment interests and entertainment
Of the people who shop to improve their mood, Of the people who shop to improve their mood, they are more likely to be in relationship or they are more likely to be in relationship or marriedmarried
Methodology Methodology
Surveyed 322 people Surveyed 322 people 17% were 65 and older 17% were 65 and older 33% were 45 to 64 years old33% were 45 to 64 years old 50% were 18 to 44 years old50% were 18 to 44 years old
Surveys were conducted from March 25, 2014 to Surveys were conducted from March 25, 2014 to April 7, 2014April 7, 2014
Marketing Research students designed and Marketing Research students designed and analyzed the research survey under the guidance analyzed the research survey under the guidance of Dr. Mary Celsi of Dr. Mary Celsi
LimitationsLimitations
A larger sample size would have made for more A larger sample size would have made for more statistically significant resultsstatistically significant results ““Respondents constitute a small nonrandom sample of Respondents constitute a small nonrandom sample of
relevant consumers and are therefore not statistically relevant consumers and are therefore not statistically representative of the universe from which they have representative of the universe from which they have been drawn.”been drawn.”
Probability based sample would have been preferred Probability based sample would have been preferred to a non-probability convenience sampleto a non-probability convenience sample
Limited to a short data collection period (1 week) Limited to a short data collection period (1 week)
Responses to questions were subjective to Responses to questions were subjective to participants’ interpretation participants’ interpretation
Research ObjectivesResearch Objectives
Validate our findings from Validate our findings from our qualitative project with our qualitative project with statistical significance.statistical significance.
Discover the shopping Discover the shopping tendencies of men and tendencies of men and women and the role women and the role emotions play in those emotions play in those tendencies. tendencies.
We also wanted to explore We also wanted to explore other mechanisms for other mechanisms for dealing with emotions, and dealing with emotions, and compare participation in compare participation in those activities to retail those activities to retail therapytherapy
In addition, we wanted to find out what people buy at a time of extreme emotion…
Clothes?Technology?Leisure?Food?Social activities?
Research on ShoppingResearch on Shopping
52% (64% of women and 40% of men) admit to engaging 52% (64% of women and 40% of men) admit to engaging in “retail therapy (TNS Global)in “retail therapy (TNS Global)
“…“…people who suffer from compulsive shopping or people who suffer from compulsive shopping or spending often spend money when they are experiencing spending often spend money when they are experiencing negative feelings such as disappointment, anger or fear” negative feelings such as disappointment, anger or fear” (Chamberlain)(Chamberlain)
““Feeling sad leads to self-centered thinking -- and this, Feeling sad leads to self-centered thinking -- and this, in turn, can lead to a greater likelihood of dropping extra in turn, can lead to a greater likelihood of dropping extra cash on something to make you feel better” (Childs)cash on something to make you feel better” (Childs)
““If there’s one antidote to emotional distress, it’s human If there’s one antidote to emotional distress, it’s human connection. We’re a species that’s meant to be with connection. We’re a species that’s meant to be with others. Whether that takes place over dinner, at home, others. Whether that takes place over dinner, at home, or at the mall, it’s therapeutic” (Yarrow)or at the mall, it’s therapeutic” (Yarrow)
FindingsFindings
Both men and women share common valuesBoth men and women share common values
Gender is related to feelings about shoppingGender is related to feelings about shopping
Gender is related to shopping to improve moodGender is related to shopping to improve mood 17.5% of men said they shopped to improve their 17.5% of men said they shopped to improve their
mood while 51.9% of women said they shopped mood while 51.9% of women said they shopped to improve their moodto improve their mood. .
The Importance of Values The Importance of Values between Males and Females between Males and Females
Gender did not show a significant difference for most statements in determining which values people rank as being important.
Shopping Habits of Males Shopping Habits of Males and Femalesand Females
• Females generally like to shop more than men and more likely to be considered a ‘shopoholic.’
p<.05
• Both males and females are the same in these categories: • Being thrifty• Feeling good
after resisting the temptation to buy
p=n.s
Is there a difference?Is there a difference?
Only 59% of participants ‘rarely or never’ shop to improve their mood; however 62% of participants ‘rarely or never’ make a purchase to improve their mood
Findings Findings Both men and women are more likely to participate in other activities Both men and women are more likely to participate in other activities
besides shopping to improve their mood besides shopping to improve their mood Exercise and Talking with Friends and Family were the top 2 choices (in both Exercise and Talking with Friends and Family were the top 2 choices (in both
first and second choices)first and second choices)
More respondents shopped out of necessity, but 38% sometimes More respondents shopped out of necessity, but 38% sometimes shopped just for fun and 30% sometimes shopped to improve their moodshopped just for fun and 30% sometimes shopped to improve their mood
Men prefer to shop with others more than women prefer to shop with Men prefer to shop with others more than women prefer to shop with othersothers
The mood people shop to improve most is ‘stressed’ (16%)The mood people shop to improve most is ‘stressed’ (16%)
Happiness is the most common post purchase emotion associated with Happiness is the most common post purchase emotion associated with retail therapyretail therapy
Online and department stores are most popular place where respondents Online and department stores are most popular place where respondents shopshop
18% of women will spend $26-$500/week18% of women will spend $26-$500/week
12% of men spend $26-$500/week12% of men spend $26-$500/week
Activities Used to Activities Used to Improve MoodImprove Mood
• 86% of respondents use talking to friends and family as a means to improve their mood.
ContinuedContinued……
36% of respondents listed Exercise as their first or second activity to improve their mood
38% of respondents listed Talking to friends/family as their first or second activity to improve their mood
8% of respondents listed shopping as their first or second activity to improve their mood
Reasons for ShoppingReasons for Shopping
38% of respondents sometimes shop just for fun
30% sometimes shop to improve their mood
68% of respondents often shop out of necessity
How Respondents Prefer to Shop How Respondents Prefer to Shop Based on GenderBased on Gender
• Men and women both like to shop alone
• Men like to shop with others more than women like to shop with others
How Often Respondents Shop How Often Respondents Shop to Improve Moodto Improve Mood
Evenly split:30% Sometimes31% Rarely29% Never
Why do people shop to Why do people shop to improve mood?improve mood?
• Most respondents (30%) stated that none of these moods cause them to shop
• Stress was the
mood that caused the most respondents (16%) to shop
Post Purchase FeelingsPost Purchase Feelings
24% of respondents felt happy after making a purchase to improve their mood
Only 1% felt sad
10% felt relaxed
How long do these How long do these feelings last…feelings last…
Shopping to improve your mood typically has a short term effect- from hours to a day or two
Where do you engage in Where do you engage in Retail Therapy?Retail Therapy?
18% of respondents shop online
17% of respondents shop in Department stores
How much each gender How much each gender spends…spends…
39% of men spent $25 or less per week
31% of women spent $25 or less per week
18% of women will spend $26-$500/week
12% of men spend $26-$500/week
How often males/females How often males/females track spending…track spending…
Men and Women Men and Women generally track generally track their spending their spending once a weekonce a week
FindingsFindings
Clothing/Shoes, Jewelry, Entertainment, Cosmetics, Clothing/Shoes, Jewelry, Entertainment, Cosmetics, Social Activities, Travel typically make people feel Social Activities, Travel typically make people feel betterbetter
Women feel best after spending money on clothing Women feel best after spending money on clothing and traveland travel
Men feel best after spending money on special Men feel best after spending money on special interests and entertainment interests and entertainment
Respondents that reported that they shop to improve their Respondents that reported that they shop to improve their mood usually …mood usually … Love to shop (in general)Love to shop (in general) Feel excited when shoppingFeel excited when shopping Can be impulsiveCan be impulsive
What people buy when What people buy when shopping…shopping…
Significant:Clothing/ShoesJewelryEntertainmentCosmeticsSocial ActivitiesTravel
P<.05
These items generally make people feel better
What makes who feel What makes who feel best…best…
Women feel best Women feel best after spending after spending money on clothing money on clothing and traveland travel
Men feel best after Men feel best after spending money on spending money on special interests special interests and entertainment and entertainment
Feelings when Retail Feelings when Retail ‘Theraping’‘Theraping’
Respondents that reported that they shop to improve their mood usually …
Love to shop (in general)
Feel excited when shopping
Can be impulsive
FindingsFindings
50% of respondents living in a household with a monthly 50% of respondents living in a household with a monthly income of $2001-2500 are more likely to engage in retail income of $2001-2500 are more likely to engage in retail therapytherapy
Of the people who shop to improve their mood, they are Of the people who shop to improve their mood, they are more likely to be in relationship or marriedmore likely to be in relationship or married
13% of participants have an associates degree13% of participants have an associates degree 50% of this segment shops to improve their mood50% of this segment shops to improve their mood
Males typically work more hours per week Males typically work more hours per week
More males live in a household with a higher monthly More males live in a household with a higher monthly incomeincome
Respondents who have NO monthly household income are Respondents who have NO monthly household income are more likely to participate in retail therapy than those more likely to participate in retail therapy than those respondents who live in a household with a monthly respondents who live in a household with a monthly income of $11,001-$15000income of $11,001-$15000
Who we surveyed…Who we surveyed…
As a class, As a class, we surveyed we surveyed the genders the genders equally.equally.
Relationship Status Effect on Relationship Status Effect on Retail TherapyRetail Therapy
Of the people who shop to improve their mood, they are more likely to be in relationship or married
Education Level and Education Level and Retail TherapyRetail Therapy
50% of those who shop to improve their mood have an Associate’s Degreep=n.s.
13% of participants have an associates degree
Race/Ethnicity Race/Ethnicity
The majority The majority of respondents of respondents were white; were white; 49%49%
45% of 45% of respondents respondents were were Asian/Pacific Asian/Pacific Islander Islander Native or Native or Hispanic Hispanic
Hours work based on Hours work based on gendergender
Males who work, work more hours than women, on a weekly basis
More men are unemployed
Income related to Income related to Retail TherapyRetail Therapy
50% of respondents living in a household with a monthly income of $2001-2500 are more likely to engage in retail therapy
Respondents who have NO monthly household income are more likely to participate in retail therapy than those respondents who live in a household with a monthly income of $11,001-$15000
Gender and Household Gender and Household IncomeIncome
The majority of The majority of females live in a females live in a household with household with monthly income of monthly income of $15,000+ OR $3,500-$15,000+ OR $3,500-$5000$5000 Living at home?Living at home? Living on own?Living on own? Single mother?Single mother? Doesn’t work?Doesn’t work?
The majority of males The majority of males live in a household live in a household with monthly income with monthly income of $9501+ of $9501+ Live at home? Live at home? Make more $?Make more $? Dual income?Dual income?
Respondents in Debt…Respondents in Debt…
Of our respondents, almost equal numbers reported having no debtThe number of men in debt seem to decrease with the increase in the amount of debtThere is no significance (in our research) between gender and level of debt
Conclusions Conclusions
Although our research shows no significance between Although our research shows no significance between gender and debt, men did report to have higher levels of gender and debt, men did report to have higher levels of credit card debt than women credit card debt than women men also reported to men also reported to track their spending almost just as often as womentrack their spending almost just as often as women
Stability and security was reported as a top value by Stability and security was reported as a top value by both genders, while almost half of our respondents both genders, while almost half of our respondents report to have some level of debtreport to have some level of debt
Among those reported, stress was the highest cause for Among those reported, stress was the highest cause for shopping to improve their mood shopping to improve their mood over half of the over half of the respondents reported to working 31+ hours a week.respondents reported to working 31+ hours a week.
While stress was the biggest indicator of retail therapy While stress was the biggest indicator of retail therapy (16%), only 10% felt relaxed after engaging in retail (16%), only 10% felt relaxed after engaging in retail therapytherapy Is retail therapy an effective way of dealing Is retail therapy an effective way of dealing with stress?with stress?
Conclusions Conclusions continued…continued…
More women live in households with a More women live in households with a monthly income of $2001-$2500, which has monthly income of $2001-$2500, which has the highest likelihood of shopping to improve the highest likelihood of shopping to improve a mooda mood
Those with an Associate Degree are most Those with an Associate Degree are most likely be in early their early twenties likely be in early their early twenties the the largest group to engage in shopping as a largest group to engage in shopping as a social activitysocial activity
People don’t shopping and making a purchase People don’t shopping and making a purchase as the same thingas the same thing
Recommendations Recommendations Since a higher number of women live in households Since a higher number of women live in households
with a lower monthly income, convenience stores with a lower monthly income, convenience stores (such as Wal-Mart, Macy’s, JC Penny, Target) offering (such as Wal-Mart, Macy’s, JC Penny, Target) offering constant deals should heavily market to womenconstant deals should heavily market to women
Athletic stores should appeal to the aspect of Athletic stores should appeal to the aspect of working out and the resulting benefits in working out and the resulting benefits in advertisements – more people prefer exercising to advertisements – more people prefer exercising to shopping shopping
Conduct further research on women and monthly Conduct further research on women and monthly household income to examine gap analysis – can household income to examine gap analysis – can help determine marketing strategieshelp determine marketing strategies
Conduct further research on credit card debt and Conduct further research on credit card debt and gender—who makes larger purchases (quality) vs. gender—who makes larger purchases (quality) vs. who buys more (quantity)who buys more (quantity)
Recommendations Recommendations continued…continued…
Both genders reported that talking with friends and Both genders reported that talking with friends and family improved their mood – travel companies, family improved their mood – travel companies, entertainment businesses, and social hangouts (the entertainment businesses, and social hangouts (the top areas where both genders reported spending top areas where both genders reported spending their money) can benefit by offering group deals their money) can benefit by offering group deals such as ‘girls night out’ or ‘buy one get one half off’ such as ‘girls night out’ or ‘buy one get one half off’ meal and drink offers to attract these consumersmeal and drink offers to attract these consumers
Research regarding average financial aid received Research regarding average financial aid received may help identify why those reported zero monthly may help identify why those reported zero monthly income are more likely to shop compared to those income are more likely to shop compared to those making $9,501 - $15,000making $9,501 - $15,000
Because respondents ‘make purchases’ more Because respondents ‘make purchases’ more frequently than they ‘shop,’ retail store advertising frequently than they ‘shop,’ retail store advertising should focus on individual items consumers can should focus on individual items consumers can purchase rather than focusing on their store being purchase rather than focusing on their store being a shopping destinationa shopping destination