Epsilon released the annual 2013 New Mover Report, which looks at consumers’ spending habits and brand affinity when they move. Analyzing samples of new movers compared to the general population, this year’s study identifies a selection of consumer groups which are, or are not moving, that many marketers may be overlooking.
Using only general demographic data, marketers can create the following standard profile of the average new mover:
- Under the age of 44
- Household income of less than $75,000
- Likely to rent rather than buy
The report found while basic demographic information can provide a glimpse at new movers, a more intelligent and holistic view of individual consumers can be architected with advanced data overlays. As such, the 2013 New Mover Report, identifies five specific groups of consumers who are most likely to move, along with five groups who are the least likely to move. In addition to basic demographics, these profiles include preferred purchase channels, shopping propensities, engagement with non-profit organizations, interests and much more.
Most Likely to Move
The average age of the head of household in this group is 35. These consumers have an average household income of under $30,000 and generally don’t have children (only 2% do). Approximately half live in rented units. These households are highly mobile and have very short lengths of residence, typically less than five years.
Most have a high school diploma or some college education. They have few credit cards and make few purchases. Typical purchases include automotive accessories, home décor, beauty supplies, hunting/fishing equipment, magazine, and lower priced apparel.
Their interests include reading books, contests and sweepstakes, music, sports, fishing, automotive work, and collectibles. Their outdoor interests include camping and hiking. Additionally, they are concerned with their health and like receiving health-related information in the mail.
Least Likely To Move
This group contains older households (the average head of household is 65 years old) and are not likely to have children still living with them. The majority of these households are homeowners with long lengths of residence, often 20 years or more.
A significant portion of this group is retired and those who are employed are mostly in professional/technical or administrative/managerial type positions. More than half have completed college or graduate school.
The average household income is $115,000. These consumers are among the most mail and retail responsive consumers and they purchase items through mail catalogs while still being above average in online purchasing.
They own and use many credit cards with which they purchase big ticket items. Typical purchases include specialty foods, home furnishings, mid-priced apparel, books and magazines. These households also contribute to various fundraising causes, like medical, veteran, wildlife and environmental charities.
These households have a strong interest in investing and spending time with their grandchildren. They also enjoy playing golf, gardening, walking to benefit their health, and reading books and magazines. Their interests include gourmet food, wine, and casino gambling. They like to stay physically fit, so they exercise regularly and watch their diets. Consumers in this group are also avid domestic travelers.
“Based on a single source of data, marketers may find that new movers tend to be single. However, there are certainly married couples and families moving every day. This indicates a number of missed opportunities for marketers to drive brand engagement and revenue,” said Don Hinman, Epsilon’s Senior Vice President of Data Strategy. “When data attributes are correlated and put into broader context, marketers can identify specific consumer characteristics within segments and target in a more meaningful and insightful manner. To drive deeper, long- term engagement, marketers must be able to identify their audiences as well as their needs and ultimately communicate relevantly and on a personal level.”
For the 2013 New Mover Report, Epsilon focused on a sample of records, selected at random, that reported a move in May 2013. This sample, which is representative of the new mover population, was then matched to our TotalSource Plus file — a centralized database built on self-reported and compiled data containing 1,000 preference indicators for 130 million households and 235 million individuals—in order to append data for comparison.
For more information at http://www.epsilon.com/pr/newmoverreport2013>