Female Spending Habits Survey Presentation
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Female Spending Habits Survey Presentation

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Female Spending Habits Survey Presentation Female Spending Habits Survey Presentation Presentation Transcript

  • Female Spending Habits Arielle Phillips & Kristen Yurkavage
  • Overview
    • Research Planning and Exploration
      • Background of study
      • Hypothesis
    • Data Collection and Preparation
    • Analysis and Interpretation
  • Background
    • National Bureau of Economic Research
      • Private group of economists tracking recessions
    • December 2007 start of recession with 1.2 jobs cut in first 10 months of 2008
    • Consider personal income, industrial production, wholesale and retail sales, and GDP
    View slide
  • Background continued
    • Downturn in house market widely accepted as cause of recession
      • Fall of housing prices since early 2000s cut into new home building and home purchases
      • Caused steep rise in mortgage foreclosures
      • Resulted in losses of hundreds of billions of dollars for banks
      • Lenders tightened credit
    • Financial markets and credit crisis worsened during Summer 2008
      • Wall Street and Auto Industry bailouts
    • Current recession one of the longest economic downturns since 1930s Great Depression
    Source: Money.cnn.com View slide
  • Female’s Affect on Economy
    • Prudential’s Financial Experience & Behaviors Among Women Research Study
      • 1,250 American women between 25 and 64 years old
      • Analyzes financial security, preparedness and challenges
    • Findings
      • 95% involved in financial decision-making in household
        • One-quarter are primary financial decision-makers
      • 15% of married respondents are primary financial decision-makers
      • 57% have become more cautious with their money due to “market plunge”
    Source: Prudential’s Financial Experience & Behaviors Among Women study, 2010
  • Data Collection
    • Hypothesis
      • Female’s have cut back on spending as a result of recent economic conditions.
    • Target Audience
      • Females
      • 18 years old and over
    • Survey Method
      • 15 question survey on SurveyMonkey.com
      • Distributed randomly online through e-mail and Facebook
      • 76 surveys completed
  • Data Preparation
    • Age Distribution
      • 30.3% of women were between the ages of 18 and 28, and 29 and 38
      • More than half of the respondents were under 39 years old
    • Marital Status
      • More than half of respondents were married
      • Approximately 30% of respondents were single
  • Data Preparation continued
    • Females’ Spending Habits
      • 80% of women changed their spending habits in the last 24 months, 20% did not
    • Product Change
      • Almost half cut back on Clothing and Accessories (47.6%)
      • Entertainment- 33.3%
      • Home and Auto- 15.9%
  • Summary Graph
    • Products and Services that females will not compromise
  • Do most females surveyed purchase generic products?
  • Summary Graph
    • Generic Products Purchased
  • Summary Graph
    • Generic Preferences
  • Do at least half of the females surveyed use coupons?
  • Summary Graph
    • Coupon Usage
  • Summary Graph
    • Coupon Preferences
  • Does marital status affect spending habits?
  • How do the females surveyed compare to Prudential’s Research Study?
  • Does salary affect generic product purchases?
    • Simple Linear Regression
    • Y Variable
      • Generic Product Purchase
        • 0= No
        • 1= Yes
    • X Variable
      • Salary
        • 1= Under 20K
        • 2= $20,001-40,000
        • 3= $40,001-60,000
        • 4= $60,001-80,000
        • 5= $80,001-100,000
        • 6= Over $100,000
    • Salary Data
    X Variable
  • Scatter Plot Salary vs. Generic Purchases
  • Linear Regression Summary
    • Correlation Coefficient= 46%
    • R2= .2136
    • Standard Error= .3070
    • Slope= -.1105
    • Intercept= 1.2087
    • P-Value= .00008
    • T Obs= -4.2
    • There is a negative relationship between the variables, reject the Null.
    • As females’ salaries increase, generic product purchasing decreases.
  • Conclusions
    • Hypothesis #1
      • More than 75% of females purchase generic products.
    • Hypothesis #2
      • More than half of the survey respondents use coupons.
    • Hypothesis #3
      • Married females are more likely to alter their spending habits.
    • Hypothesis #4
      • In comparison to Prudential’s Research Study, the survey results showed an increased change in spending habits.
    • Hypothesis #5
      • As females’ salaries increase, generic product purchasing decreases.
  • Recommendations
    • Gather more data from the 60+ population
    • Revising survey software to require all questions to be completed
    • Collect more specific data
    • Gather information from wider demographic
      • Age
      • Location
      • Income Range
    • Compare female to male spending habits
  • Thank You!
    • Questions?