'Nesties' Offer Brands Big-Spend Opportunity
The firms say that once these women become engaged, they enter a three- to-four-year period of planning their wedding, setting up their household, and having a baby -- all of which motivates them to spend on brands, goods, and services to which they are apt to become loyal.
The study is based on surveys taken in February of 6,000 women both from OTX samples and from active membership rolls of TheKnot.com, TheNest.com and TheBump.com. The study suggests that the group outspends virtually all other female demographics, including their 18- to-34-year-old counterparts without partners. The survey captures information on feelings and attitudes about life, love, relationships, day-to-day and social activities, finances, category and brand purchase behavior, and media consumption.
"Nesties, more than any other group their age, are in the market to spend as they settle into new homes and plan for their first baby," said David Liu, CEO of The Knot Inc. "This is an exciting opportunity for brand marketers because it is now possible to target consumers who have highly predictable purchase behaviors and who will form new and lasting relationships with the brands that meet their needs in these formative and emotional years."
The research also suggests that shared decisions notwithstanding, "Nesties" are much more likely than their male counterparts to feel that they have primary responsibility in home decorating, cooking, shopping, planning social activities, doing household chores, paying bills, and caring for children, other family members, and pets.
Also, 70% of respondents said they are cautious about spending money on discretionary products, and over half said they felt "overwhelmed by financial burdens." Less than a quarter of respondents said they "only think about finances when they absolutely have to."