NEW YORK, Feb. 17, 2021 /PRNewswire/ -- Meredith
Corporation (NYSE: MDP), the leading multi-platform media
company reaching 95 percent of American women across every stage
and every day of their lives, today announced findings from its
landmark study on the impact of the COVID-19 pandemic on female
consumers revealing that the pandemic will have a lasting effect on
the outlook, behavior and psychology of women across the country,
with more than half (56%) of women reporting that the pandemic has
made them realize what is really important, namely family
relationships and health. The multi-phase research study, titled,
"The Post-Normal Consumer: Navigating an Uncertain Present &
Future," combines qualitative and quantitative research to
identify how women have been affected by the coronavirus pandemic.
The report reveals divergent changes in women's interests,
lifestyles, values and shopping behaviors in response to the
pandemic, as well as common themes, including an overall decline in
mental health, a tighter focus on savings and a desire for positive
messaging from brands.
"The pandemic has not affected all women in the same way. In
addition to factors such as age, race, and politics,
psychological characteristics have played an important role in
shaping the experiences and reactions of different groups of
women," said Dr. Joshua Ackerman, Associate Professor of
Psychology and Marketing at the University of
Michigan, who partnered with Meredith to produce the study. "Brands will
face the need for a targeted strategy in reaching
consumers to be successful in this 'post-normal' world."
Among the report's top findings is that 7 in 10 women will
make changes in the way they live post-pandemic, with 24% planning
to make significant changes to the way they lived pre-pandemic.
Additional highlights are summarized below.
Relationships and Health Rise as Key Values
- The Top 5 values that became more important for women because
of the pandemic are: 1) having close family
relationships; 2) leading a healthy, active
lifestyle; 3) being dependable and trustworthy for
friends and family; 4) continuing to learn and grow; and 5)
treating every person in the world equally and justly.
Increased Focus on Financial Savings
- 21% of women have burned through much of their savings during
the pandemic, whereas 54% actually saved money.
- 52% of women say the pandemic made them realize they should
save more for unexpected circumstances; rates were higher among
Millennials (55%) and Gen Z (57%).
Ecommerce to Remain Popular Post-Pandemic
- 22% of women will continue to shop online more post-pandemic,
with the highest rates among Millennials (25%) and Gen Z
(29%).
- 51% spent money on things to make their increased time at home
more enjoyable, with 34% focused on home improvement.
- 77% of women can't wait for their usual brands to be more
readily available than they are right now, but 58% say they will
continue to purchase new brands they tried during the pandemic
after the pandemic is over.
Women Seeking Positive Messages from Brands
- Female consumers seek positive messages from brands, including
advertising that focuses on how we are all united as Americans
(78%) and how we all can emerge from the pandemic even stronger
(68%).
- The vast majority of female consumers are more interested in
buying from companies that are implementing safety measures (90%)
and that focus on the well-being of their employees
(87%).
- Female consumers are split on wanting to see advertising
focused on the pandemic, with 49% opposed.
Physical Health Maintained While Mental Health
Declined
- Only 14% of women said their physical health declined during
the pandemic, but 39% of women said their mental health declined
during the pandemic, with about half experiencing symptoms of
depression in the past two weeks (the rate was higher among Gen Z
at 70% and Millennials at 52%).
- 42% of women say they have enjoyed the slower pace of
life.
- More than half of women (52%) said they can spend less on
things they don't need and still be happy.
Although common themes emerged, the study uncovered stark
differences among various segments of the female population when it
comes to economic and health attitudes and behaviors, as well as
what they want to see from brands. Assessing demographic factors,
psychological tendencies and consumer preferences, the study
identified seven distinct segments of women, ranging from
"Conservative Virus Skeptics," whose lives have changed the least,
to "Young & Vulnerables" and "Diverse and At-Risks," whose
lives have been affected the most by the pandemic.
The seven segments of female consumers identified in the report
have been modeled onto Meredith's
database of consumers and will be available for print and digital
activation by advertisers.
"The segments allow marketers to better understand where their
consumers fall within the spectrum," said Britta Cleveland, SVP of Research Solutions at
Meredith. "By identifying these
differences and activating them across our network of sites, we're
making it possible for advertisers to reach and engage the women
who are most receptive to their messages."
Meredith will be hosting a
by-invitation-only webinar The Post-Normal Consumer: A
Forecast for Navigating an Uncertain Future taking place
Wednesday, February 24 from 9:30 –
11 am EST. The Meredith Research
Solutions team and Dr. Ackerman will discuss the results and
implications of this ambitious, national study on American
women. In addition, futurist J. Walker
Smith, Chief Knowledge Officer, Brand & Marketing of
Kantar Media will offer an urgent forecast: "Disruption is the
New Normal." To find out more about attending this event,
click here.
The findings in the report come primarily from a general
population survey of 2,004 U.S. women ages 18—69 conducted in
September 2020 and in-depth, online
discussions with 88 American women about their experiences during
the coronavirus pandemic in July
2020. The study was produced in partnership with Associate
Professor of Psychology, Dr. Joshua
Ackerman, from the University of
Michigan.
ABOUT MEREDITH CORPORATION'S NATIONAL MEDIA
GROUP
Engaging 95 percent of American women across every stage and
every day of their lives, Meredith Corporation's National
Media Group is home to 40+ iconic brands, including PEOPLE, Better
Homes & Gardens, Allrecipes, Southern Living, REAL SIMPLE
and Magnolia Journal. The company provides trusted content and
experiences that resonate with a massive, highly receptive
audience, reaching consumers where they are across digital,
magazines, social platforms, video, audio and connected home
assistants. Meredith's powerful brands have enabled the
company to become the No. 2 licensor globally, including more than
3,500 SKUs of branded products
at Walmart. Meredith's businesses also include
leading affinity marketer Synapse, award-winning creative
content studio Foundry and the Meredith Data Studio,
whose proprietary first-party data and insights are leveraged for
National Media Group offerings.
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SOURCE Meredith Corporation