Consumerism and spending habits

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Consumerism and spending habits

  1. 1. WHEN WHERE AND WHY DID OURMONEY GO?DO BOYS AND GIRLS HAVE A DIFFERENCE?
  2. 2. AGENDAConsumption pattern -- Boys v.s. Girls• Their views on necessities• Where else do they spend?• What are their spending habits?Consumerism fuel 1- Social Network and Social MediaConsumerism fuel 2 – Online Shopping PlatformConsumerism fuel 3 – Promotion and Advertising• Excessive Advertising• Method of Advertising• Questionable Marketing Practice• The Consumer Black Box
  3. 3. FELIX’S & PATRICIA EXPENSE SUMMARY26%19%32%22%Patricia’sNecessitiesSocailizingactivitiesGroomingMiscalleanous49%48%3%Felix’sNeccesitiesClothingMiscellaneous
  4. 4. VIEWS ON NECESSITIES49% spendonnecessitiesGoods andservices which areindispensable tovarious roles in hisdaily lifeBoys 32% spentonnecessitiesExpensesthat areunavoidableGirls
  5. 5. My Role ActivityUniversity Student • Transportation fee• Breakfast, lunch, TeaBoy Friend • Watching Movie, Shopping,Going to country side,cookingElder Brother • Birthday gifts• Treat family a mealFELIX’S VIEW ON NECESSITIESGoods and services which are indispensable to various rolesin his daily life
  6. 6. PATRICIA’S VIEW ON NECESSITIESYesDinner with friendsClothingEntertainment (High -tea/ dessert/ movie)NoLunchTransportationBasic skincareexpenseIs it avoidable?
  7. 7. WHERE ELSE DO THEY SPEND?BoysSportsAppearanceFriendshipGirlsGroomingSocializing(dinner,dessert, movie)Miscellaneous
  8. 8. Sport Appearance Friendship• Gym Room MonthlyPass• Top Wearing • Hang out in bar• Sport Wear • Pants • Hang out inrestaurant• Sport Equipment • Shoes • Playing sport in sportcenterWHERE ELSE DID FELIX SPEND?
  9. 9. WHERE ELSE DID PATRICIA SPEND?Grooming SocializingMiscellaneous
  10. 10. WHAT ARE THEIR SPENDING HABITS? Target and mission Don’t go “Shopping” Do research Spend more when heis happy Shopping as a leisureactivities Lots of impulsepurchase Spend more when shehas emotionalfluctuationFelix Patricia
  11. 11. CONSUMERISM FUEL
  12. 12. SOCIAL NETWORK AND SOCIAL MEDIA create, share and exchange information and ideasin virtual communities and networks
  13. 13. SOCIAL MEDIAGather groups of peoplewith the same interestSpread information /feelings of products orservicesMake decision onconsumption/ ActionGainPower!
  14. 14. SOCIAL NETWORK Change people’s communication Free advertising Photo sharing Facebook fans page GamesDailyhabit/Joysharecommentlike
  15. 15. SOCIAL NETWORK
  16. 16. ONLINE SHOPPING PLATFORM Brands’ official website Taobao , Jshoppers Groupon eBay, Yahoo Convenient Cheaper No geographical influence No time restrictionCreditcardSpendmore
  17. 17. ONLINE SHOPPING PLATFORM Group-buying “uBuyiBuy” Social activities
  18. 18. ONLINE SHOPPING PLATFORM• HappinessPrioritizing• AdditionalpurchasesBuying• UnwantedthingsReselling
  19. 19. INFLUENCE OF PROMOTION ANDADVERTISING
  20. 20. OVEREXPOSURE ON ADVERTISING Ads are everywhere MTRstations, TV, billboards, buses, etc…
  21. 21. METHOD OF ADVERTISING Creative Marketing Strategy Build strong brand that people sought after Attack consumers’ emotion
  22. 22. DECEPTIVE/ QUESTIONABLE PRICING STRATEGYVolume discountDeceptive pricing
  23. 23. THE TRICKY MARKETER OR OUR TRICKY BRAIN?–THE CONSUMER BLACK BOXMake use of the limited time to trigger your utmostdesire on the spur of the moment Small purchases Attractive offers Anchoring effects
  24. 24. HOW OUR BRAINS TRICK USThings that lead to your fragility to marketers’ tricks Projection bias Effect of hunger
  25. 25. CONCLUSION Don’t browse social media too often Stick to your shopping list Think critically before buying More research Don’t always compare with others STICK TO YOUR VALUE OF LIFE

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