This paper aims to provide effective market segmentation through studying the spending pattern of women between the ages of 20's and 30's, a group with increasing disposable income and purchasing power. Specifically, we have studied targeted subject's...
This paper aims to provide effective market segmentation through studying the spending pattern of women between the ages of 20's and 30's, a group with increasing disposable income and purchasing power. Specifically, we have studied targeted subject's leisure activity and cloth purchasing pattern. With this study, we hope to suggest productive spending pattern that is appropriate for the society.
To reach the conclusion, we have examined the followings:
First, we find out the main factors of consumption pattern, leisure activity, and cloth purchasing pattern of our subject group, women between the age of 20's and 30's.
Second, we look for consumption trend and difference in leisure activity and cloth purchasing pattern following the consumption pattern of groups.
Third, we find out the cloth purchasing pattern following the leisure activity group.
Fourth, we search for how consumption factors of our subjects can influence leisure activity and cloth purchasing pattern.
Fifth, we find out how leisure activity factor affects cloth purchasing pattern.
Sixth, we find out the effect of consumption trend, leisure activity and cloth purchasing pattern following the characteristics of population statistics of women in 20-30's age group.
The research was conducted targeting 20-30's aged women in Seoul and Gyeonggido area. Survey was carried out on 620 subjects and ultimately, 560 subjects were analyzed. SPSS statistics package was used and factor analysis, frequency analysis, reliability examination, cluster analysis, regression analysis, Duncan-test, 2-test, and ANOVA.
The results of our study are as follow:
First, it derived six factors of consumption trend of women between the ages of 20's and 30's, including "identity forming factor," "other people awareness factor," "appearance factor," "brand name goods desire factor," "over-spending factor," and "emotional consumption factor."
Leisure factors were classified into four factors, including "societal," "body," "mental," and "recreation." For cloth purchasing pattern, it group factors into "pleasure," "economical," "brand loyalty," and "trendy product preference."
Second, overall consumption propensity average grade was 3.23, "appearance factor" was 3.73 and "emotional consumption factor" was 3.63.
Third, to ascertain the factors of leisure activity and cloth purchasing pattern following the consumption of women in 20s-30s age group, we classified the groups based on the consumption types. Following the results, we classified the group into "economically driven," "other people awareness," and "luxury driven" type. The study showed that "luxury driven" type had high scores in "body," "mental," and "recreation" factors than other groups.
Fourth, in studying the differences in cloth purchasing pattern, the "pleasure," "economical," "brand loyalty," and "trendy product preference," all showed significant differences. That is, factors of "pleasure," "brand loyalty," and "trendy product preference," had high influence on "luxury driven" type than other groups.
Fifth, to find the differences of factors for cloth purchasing pattern following the leisure activity group, we first conducted cluster analysis. The results showed that the leisure activity group shopped conforming to "pleasure" and "brand loyalty."
Sixth, to find the effect of consumption factor in leisure activity and cloth purchasing pattern, we carried out regression analysis. The biggest effects on leisure activity were "appearance factor," and "brand name goods desire factor," whereas for cloth purchasing pattern, the biggest influencing factors were "other people awareness factor," "brand name goods desire factor," "appearance factor," and "identity forming factor."
Seventh, in order to find out the effect of leisure activity on the cloth shopping pattern, we conducted regression analysis. The results indicated that the biggest factors were "recreation" and "mental."
Lastly, in looking at the population statistics, household's income level had a significant effect on cloth purchasing and leisure activity and upon classifying leisure activity group into active, semi-active and passive and studying the characteristics of population, we found that the factors, including education level, place of residence, employment and household income, monthly expenses in cloth purchasing, and monthly expenses of leisure activity all showed significant differences following leisure activity groups.
In conclusion, this paper aims to provide marketing strategic plan by identifying the difference spending patterns of groups and by understanding the consumer psychology and purchasing pattern in the fashion and leisure market industry.