Marketers traditionally use income, net worth and income-producing assets to enhance their consumer targeting efforts. However, these data elements provide insight only into spending capacity, not how much is actually being spent. Consumers who appear nearly identical in terms of demographics may, in fact, vary widely when it comes to discretionary spending. Some are savers, some are spenders and some have more financial obligations than others.
Experian Simmons is pleased to announce the addition of the discretionary spend estimate to the Simmons national consumer study (NCS) and Simmons national hispanic consumer study (NHCS). This new estimate helps marketers target consumers based on what their household spends annually on nonessential goods and services, not just financial capacity. Discretionary spending includes purchases of items such as tobacco, alcohol, education, reading, personal care, apparel, dining out, donations, household furniture and numerous forms of entertainment.
In this report, we will:
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