Diana Marszalek 19 Nov 2018 // 1:35AM GMT
NEW YORK — Brands may have to work somewhat harder wooing women this holiday season, as new research shows female consumers — particularly young ones — are feeling pessimistic about where the economy is heading.
According to a Lippe Taylor/SheSpeaks study on women’s buying behavior, more women (28%) think the economy is declining than improving (24%) — and young women are the most pessimistic of all.
Just 3% of women 18-24 believe the economic outlook is positive, the study found, although optimism grows with age; 28% of women ages 46-55 believe the economy is on the upswing.
That, however, doesn’t mean women won’t be shopping this holiday season.
The study, which surveyed 2,000 US women age 24-60, found 56% of respondents won’t let their gloomy outlook influence how much they spend this holiday season; 42% expect to do half their shopping online.
The majority of respondents, 62%, said they consider Cyber Monday the biggest shopping day of the year, versus the 53% who still see Black Friday worthy of that title.
The research also found that pets are in for a good holiday season, as nearly half of the women surveyed plan to buy presents for their pets. Most women said they have re-gifted something they received.
When it comes to being on the receiving end, however, the majority of women said they’d rather have the gift of time over money. Two-thirds prefer receiving gift cards.