Earlier this year, publisher IPC Media began a long-term project to redefine and research the demographic it has dubbed GenerationYnot!
These are women in their 40s and 50s, a group whose lifestyles have changed exponentially over the past 20 years. Women belonging to GenerationYnot! make up 50% of the female full-time workforce and are richer, more powerful and better connected than ever before.
IPC Media's brands include Woman, Woman's Own, woman&home, Essentials and Goodtoknow. It has spent the past six months on an in-depth research project to discover more about this demographic. The company partnered 28 clients in five advertising categories, looking at aspects of GenerationYnot!'s attitudes and behaviour relevant to their brands.
The research was conducted among more than 2000 women, via SeeMe camera technology, life tours (where a woman explains her shopping choices to a researcher), self-moderated focus groups, online surveys and digital forums.
The headline finding was how generally optimistic the GenerationYnot! woman is. She tends to be positive, making the most of what comes her way and relishing the opportunities and choices available. She feels confident about what she wants and how to go about getting it, whether this relates to life changes or purchasing behaviour.
Her identity as the hub of the household - the Family CEO - is important to her.
Many GenerationYnot! women think they are in a relatively fortunate position, compared with younger women.
As well as being positive and well-motivated, they are also a spontaneous bunch - 57% of those that 'do things on the spur of the moment' (TGI) belong to GenerationYnot!
However, the recession has definitely affected the way the Family CEO spends her household budget, a development that has an impact on the marketing of brands. Similar to a commercial CEO, she invests in herself and is aware that she needs to squeeze the maximum amount of value from every pound she spends.
10 WAYS THE FAMILY CEO HAS CHANGED HER SHOPPING STRATEGY
1. She's shopping smarter
72% describe themselves as a smart shopper.
2. She's a more proactive shopper
80% like to shop around and get the best deals.
3. She writes lists
72% plan before going shopping.
4. Influence her before she goes to the store
She's inspired well before she leaves her home for the supermarket.
5. Magazine brands inform and inspire
Magazine brands remain a key source of information and inspiration
6. She's a memory banker
She remembers what she's learned, even if she doesn't act on it
7. She loves to spread the word
68% say that 'people trust me to give good advice'.
8. She is an active influencer
Beyond the household, she is actively spreading her knowledge among her
friends, influencing their decisions too.
9. She's a brand flirt
94% say they like to try new food products.
10. Premium, mainstream and value brands all have a place in her life
But she is more likely to go premium when buying brands for herself.
Go to www.generationynot.co.uk for more details on the research.
This article was first published on marketingmagazine.co.uk