* Compared to last year’s findings, one in five women (20%) don’t overspend at all - which is double last year (11%). And despite the global economic meltdown, UK women are not reacting to the doom and gloom in the media – with 76% confident that they can handle their finances, exactly the same proportion as last year.
* A quarter of UK women say they are unwilling to compromise their lifestyle despite the state of the economy – and a third treat themselves to something special to reward their economising efforts.
* And women still like to look good – after paying for essentials such as the rent or mortgage, women say clothes, going out and shoes are their personal spending priorities.
That said, the majority of UK women (64%) are trying to cut back on expensive luxuries – perhaps deferring big ticket expenditure like cars – while three quarters claim they only buy products that offer value for money. Special offers are growing in popularity, with 68% saying they now take more advantage of deals and bargains on offer.
The credit crunch is clearly having a varying effect on women’s lives. A third of women say it has had a big or huge impact, but 28% claim to be affected just a little or not all, which rises to 40% for ABC1 women under-35. And as the recession looks set to continue, UK woman are turning to tried and trusted brands in their shopping habits – with 41% of women claiming to make purchasing decisions based on brands that they know.
Amanda Wigginton, IPC Advertising’s director of Insight, says: “While the news reports are full of doom and gloom it’s clear that for the most part women across the UK are taking the economic situation in their stride. They’re taking control of their personal finances, covering the basics and still prioritising little treats in their discretionary spending. Understanding how women feel about their finances and how they organise their spending gives us insight into how other areas of their lives are impacted. This fresh research gives us pointers for the best way to communicate with women, which is important for us and our advertisers.”
More Money Matters is part of IPC’s Origin Panel, a major rolling research programme using a 7,500-strong panel of UK women. The Origin Panel won Media Week’s Best Research Initiative prize in 2008.
About IPC Media
IPC Media says “IPC Media is one of the leading consumer magazine and online publishers in the UK. Its five publishing divisions are: IPC Southbank, IPC TX, IPC Ignite, IPC Connect and IPC Inspire. IPC is wholly owned by Time Warner, one of the world's largest media groups. It’s brands include Marie Claire, woman&home, Chat, Pick Me Up, Look, InStyle, Now, Woman, Woman’s Own and Woman’s Weekly."
About the Origin Panel
IPC Media says: "The Origin Panel is a major rolling research study of UK women, designed to provide a continuous channel through which to understand the evolving attitudes and behaviour of women across the country.
IPC has recruited a 7,500-strong nationally representative panel of UK women, together with SPA – one of the largest independent research agencies in the UK.
Using a specially created and highly interactive online community, IPC Insight has mined huge amounts of quantitative and qualitative data. And because the panel is designed to be nationally representative, the insights produced are neutral and objective – a true bellwether of UK women."
