Carat taps into singleton spending

New research from Carat concludes that many brands are failing to cater for the growing base of single people, missing out on lucrative marketing opportunities.

Single adults, according to the research, are set to make 45 per cent
of the population by 2010.

The report, entitled Singleton, suggests that two-thirds of the group
believe they have more money to spend on themselves, indexing well above the national average when it comes to buying the newest fashion brands.

Carat believes that the findings present advertisers with
opportunities to tap into a growing market of high-spending
singletons.

In the upcoming months, it plans to showcase its findings to all major
advertisers with the view to convincing them to shift their marketing
strategies.

Carat strategist, Michael Florence said: "Singledom has identified
important insights, planning implications and opportunities for
targeting single adults through marketing communications.

"It is clear that, among singletons, there is an untapped need to pay
for services and brands that match their lifestyle and life-stage."

He added: "We believe there is a real opportunity now for brands to
position themselves to secure loyalty amongst an often ignored but
growing sector of society."

The second phase of Carat's £100K research study comes after its
"Generation Jones" study conducted last February that researched
lifestyle trends of people aged between 40 and 51.

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