Jobsafe.me releases GfK NOP findings into big ticket purchasing
Posted by
New research by leading global research company GfK NOP provides fascinating new insights into what The Times recently described as the ‘big-ticket slump’ in consumer purchases that is hitting not only most retailers but also many other providers of higher value products and services.
Among its findings, it reveals that 27% (1 in 4) of all working adults would like to buy at least one big ticket item – holidays, golf membership, gym, carpets/flooring, furniture, televisions, brown goods, PCs or laptops, iPads or smartphones in the near future but are put off from buying due to concerns around job security.
The research was exclusively carried out by GfK NOP for jobsafe.me, one of the group of promotional services companies owned by Motivcom plc.
The findings suggest that a vast total, almost £7bn (£6.93bn) worth of new sales, could be added to these sectors if these adults were given the confidence to make those purchases by removing the feeling of employment insecurity that is holding them back.
Richard Davies, director at jobsafe.me, commented: “Many of these consumers do actually have the money but due to concerns around job security are storing up their cash for a rainy day should that eventuality materialise. We have become a nation of squirrels and are preparing for the worst, even though, for the great majority, the worst will never actually happen.
Jobsafe.me is a money back promotional product, which can be applied to specific products, categories or even conditional spend thresholds across the whole portfolio. It can also be implemented across multiple sales channels. The base product covers consumer purchases up to £2000, although it can be implemented with higher amounts. It is a money back guarantee that, should the consumer experience job loss within 12 months of purchase, they receive their money back and keep the product(s) or service.
Richard Davies explains further: “Jobsafe.me is a consumer promotion and its cost is integrated into the retail price as added value for the consumer. It is not a separate consumer purchase.
The research also showed that 60 per cent of those who would like to buy these big ticket items but are put off by concerns about job security would be likely to buy if JobSafe.me was available with the product.
