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Smart Shopping Strategies for Young Adults

Discover tips for savvy spending and avoiding impulse buys. Learn to budget, compare prices, and make informed purchases. Take control of your finances and shop smarter!

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Smart Shopping Strategies for Young Adults

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  1. Easy Come, Easy Go Love Your Money Jayne McBurney Family & Consumer Sciences Agent Jayne_mcburney@ncsu.edu http://johnston.ces.ncsu.edu/

  2. Buying Power Young Adults spend.... $3 billion on entertainment More than $11 BILLION on snacks and beverages $5 billion a year on clothes and shoes $4 billion on personal care (Alloy Media & Marketing and Harris Interactive, 2009) Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

  3. and...media junkies Laptop 57% Cell phones 88% 94% age 18-29 use the Internet (http://pewinternet.org/Reports/2012/Digital-differences.aspx )

  4. Marketing • Price • Product • Placement • Promotion

  5. Price & Product • Different models for different stores – TVs, clothing, appliances • Martha Stewart, Martha Stewart, Martha Stewart

  6. Placement & Promotion

  7. Why we Buy... • Blend in/Stand out • Brand Personality • Fashion Knowledge • Value Seeking/Investment • Comfort of brands – safe purchase Noble, S., Hayatko, D., Phillips, J. What drives college-age Generation Y consumers? Journal of Business Research 62(2009) 617-628

  8. Avoid Impulse Buying( buying without intention, spontaneous, immediate) • Do I need it? • Have I compared prices? • Can I get is cheaper: BOGO,coupons • Cost of gas to get there Know what you CAN spend Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

  9. How to Avoid “Retail Therapy”: 1. LIST 2. Eat first 3. Shop alone 4. Time limit 5. CASH 6. No Drama!

  10. 30 day List....anything over $100 Most people don’t plan to fail they simply fail to plan. Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

  11. ORGANIZE! Set aside for fixed expenses : • Car - payment, gas, insurance • Rent/Mortgage • School costs • Savings…a little bit adds up Envelopes for flexible expenses: • Food • Entertainment • Clothing

  12. Plan Expenditures • Make a decision: buy shoes vs. concert tickets How much are each? Can you get both? Comparison Shop!!!!!!! Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

  13. Cool outfit Shorts Graphic Tee Flats TOTAL Mall Store • 36.50 • 19.50 • 32.50 $177 Target/Walmart • 12.99/9.50 • 9.99/6.92 • 12.99/8.00 • $107/$61 GCF/Secondary • 4.59 • 3.39 • 4.59 Less than $29!!!! Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

  14. The 3 Rs • Reality…..$ is limited • Responsibility…save it or blow it • Restraint…delayed gratification Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

  15. Helpful Websites • groupon.com • twongo.com • LivingSocial.com • SouthernSavers.com Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

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