Report:
Consumer spending increases 33% on payday
July 30, 2024
While we love traditional, tentpole moments in the marketing world, whether it’s the start of pumpkin spice season, back to school shopping or the holidays, there are additional tentpole opportunities that are often overlooked.
No, they might not be as splashy, but they are meaningful, always-on touchpoints for brands throughout the year when it comes to connecting with target audiences while they’re actively in market for specific products and spending on a host of goods and services.
No, they might not be as splashy, but they are meaningful, always-on touchpoints for brands throughout the year when it comes to connecting with target audiences while they’re actively in market for specific products and spending on a host of goods and services.
Payday is one of them.
In a new report, InMarket explored how consumers’ spending habits change following the bi-weekly deposits of paychecks each month. Here’s a glimpse at our findings:
Consumer spending increases 33% on payday, remaining elevated for a few days after returning to normal patterns.
In our Values Wars era, it’s no secret that rising costs have impacted consumer budgets and spending habits, creating unprecedented challenges for marketers in not only keeping up with innovation across the competition. This influx in consumer spending timed with bi-weekly paydays poses a strategic opportunity to break through the noise and keep your brand and product portfolio top of mind as consumers increasingly spend on categories like groceries, dining, beauty and entertainment.
That’s not all.
The report dives into the biggest winners for post-payday spending, impact on discretionary categories and more. It also provides actionable recommendations for marketers on incorporating payday as a tentpole moment across your media plans to engage shoppers during these key times of the month, whether they’re stocking up on essentials or treating themselves.
Interested in learning more? Download the full report or contact your sales representative to understand how you can leverage payday insights across future campaigns.