Marketing to Moms: If the Recession is Over, Why Don’t Moms Feel Better?
February 4, 2010 § Leave a comment
Well, facts say that the U.S. economy is growing and the recession is officially over, but Moms are not so sure.
According to the February 2010 American Pulse poll from BIGresearch, 84.5 percent of Americans say that the recession is not over. And, women at 86.2 percent are more pessimistic than men at 82.6 percent.
Key White House economic advisor Larry Summers has an interesting term to describe the way that most of us feel. He said the U.S. is experiencing a “statistical recovery and a human recession.” While there seems to be some movement in indicators, the truth is families cannot feel really optimistic when unemployment is at 10 percent.
The recession may be taking more of a toll on working moms. In October 2009 Citi found that more than half of the Moms surveyed reported working longer hours and adjusting their spending habits more than other groups. Seventy-five percent of Moms say their spending habits are forever changed, compared to six in 10 women without children.
Working women still make less than men. More women are becoming the family breadwinner. More men lost jobs during the recession than did women, and currently one in five men are unemployed. Families are facing higher expenses for a variety of items including education, and budgets were stretched before the recession.
Because Mom is in charge of 80 percent of the household spending, she needs to feel secure to starting spending again.
Research shows that half of Moms with children have delayed big-ticket item purchases and 52 percent said they have tapped into savings to make ends meet. One in three said they are headed back to school to improve their job skills and job prospects.
At our house, we say “nobody’s happy unless Mama is happy.” Guess that is true for lots of households this year.