NEW YORK, Jan. 16, 2020 /PRNewswire/ -- 5W Public Relations, one of the 15 largest independently-owned PR firms in the U.S., has determined that dining out, travel and experiences rank at the top of the list as the category consumers are most likely to splurge on, as determined by their 2020 Consumer Culture Report.
The survey showed that Dining Out and Travel/Experiences ranked first and second respectively across all generations as the most splurge-worthy categories beating out fashion, beauty, electronics, and health among others. Overall the consumer categories ranked in the following order:
- Dining Out 43%
- Travel/Experiences 41%
- Snacks 39%
- Electronics 35%
- Health & Wellness 33%
- Personal Care 30%
- Shoes/Accessories 30%
- Beauty 29%
- Home Goods/Furniture 29%
- Clothing/Fashion 27%
"Our data shows that the trend of buying experiences over possessions is not only on the rise, but that people are willing to spend the highest amount of money on these categories," said 5W CEO and Founder, Ronn Torossian. "There is a huge opportunity for growth and expansion in the travel, entertainment, hospitality and restaurant industries this year. Furthermore, all consumer brands need to realize that their customers value experiences first, and tailor their messaging to capture this want."
As a leading consumer PR firm, and an award-winning digital agency, 5WPR is committed to being a trailblazer in the industry and providing clients with the most up-to-date insights. The information gathered from the survey guides strategy, planning and execution of consumer and digital client campaigns.
The data in 5WPR's Consumer Culture Report was collected from an online survey that ran from November 13 to 18, 2019 by MARU/Matchbox on behalf of 5WPR. The survey was conducted among a nationally representative sample of N=1001 American adults aged 18+. The report includes unique consumer statistics on industries, buying behaviors by generation, social media marketing, corporate image, brand activism and more.
About 5W Public Relations
5W Public Relations is a full-service PR agency in NYC known for cutting-edge programs that engage with businesses, issues and ideas. With more than 150 professionals serving clients in B2C (Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, Nonprofit), B2B (Corporate Communications and Reputation Management), Public Affairs, Crisis Communications and digital strategy, 5W brings leading businesses a resourceful, bold and results-driven approach to communication.
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SOURCE 5W Public Relations