Money Matters 3

In cash-straitened times, media is playing an important role in women’s lives, both as a research tool and as a means of keeping women up to date on financial matters that might impact on them.

Women in the UK are battling the effects of recession by prioritising financial management, scrutinizing their purchases and scouring the high street and internet for the best deals. This quest for value means the emphasis on prior research has never been greater, which in turn has lead to an increased reliance on media as a source of information.

These findings come from Money Matters 3, the latest wave of research from IPC Media’s Origin Panel – a major rolling programme of research using a unique 7,500-strong panel of UK women.

Despite officially coming out of recession this year, women in the UK have less confidence in the British economy than at any time in the last two years. 45% say they are “worried” (up from 33% in 2008) and 26% say they are “concerned” (up from 16% in 2008).

Nearly two-thirds of the women we spoke to said that the recession has left them worse off, with 94% of women admitting to having money worries and 43% claiming these worries have caused health problems.

Money Matters 3 explores the various ways that the recession has changed women’s lives:

Lifestyle Changes
• Women are trying to stay in control of their lives through more careful budgeting and saving.
• They are focussing on necessity and re-prioritising what’s important to them.
• Women are putting their family first.
• Recession fatigue has lead women to escape the credit crunch doom and gloom by rewarding themselves to affordable treats.
• The recession has encouraged women to develop new skills, including money management and cooking from scratch.

Taking control of their lives in these ways empowers women and makes them feel more positive about things.

Shopping Changes
• Women have become more pro-active and considered in their shopping.
• Advertising has become more important to them.
• They have become more open-minded about new brands and own label brands.
• Women have become more savvy shoppers.
• Women are turning away from buying goods to buying experiences.
• Women making trade-offs, investing in quality goods they know will last.

The key unifying theme behind these changes is the increased importance of pre-purchase research.

The Role of Media and Advertising
• As women stay at home more out of financial necessity, so media consumption has increased.
• They have become dependent on the internet, TV and magazines.
• Across all product categories, they are the three media consulted at every stage of the purchase process.

Louise Osilaja, Insight Manager 0203 148 3635 louise_Osilaja@ipcmedia.com
Amanda Wigginton, Director of Insight 0203 148 3636 amanda_wigginton@ipcmedia.com