A lifestyle analysis of the Singletons consumer segment in South Africa

Abstract

Background:The Singletons consumer segment in South Africa is growing in size. Due to the absence of family constraints and responsibilities, Singletons have a greater level of spending power. Their high levels of disposable income enable Singletons to spend a greater percentage of their income on luxury products. Purpose of study:The growth in size and financial value of Singletons warrants further investigation. Marketers have overlooked the increasing value of this segment and have not conducted sufficient research to gain a better understanding of Singletons. The objective of this study was to conduct a lifestyle analysis of Singletons.Design/Methodology/Approach: Non-probability, convenience sampling was used. Data was collected by using a self-administrated questionnaire. A sample size of 207 respondents was realised. Cronbach-Alpha values and Confirmatory Factor Analysis (CFA) were calculated to determine the reliability and validity of the questionnaire. The Kaiser-Meyer-Olkin (KMO) measure of sampling adequacy determined the appropriateness of the factor analysis. A p-value of Bartlett's test of sphericity was calculated in order to determine whether there is sufficient correlation between the items. The means and standard deviation (SD) was derived from the responses to each lifestyle statement. Results/Findings:The results indicated that Singletons have a moderately low level of fashion-consciousne ss whilst having moderately high levels of cost consciousness, health consciousness, recreation, e-shopping preferences and career orientation.Recommendations: Due to Singletons' moderately high levels of cost, health and career consciousness, and a shared preference for e-shopping, marketers should integrate and emphasise these dimensions in their strategies, and downplay on fashion-centred messages due to the moderately low levels of Singletons' fashion consciousness. Managerial implication:The results provide marketers with a comprehensive perspective of Singletons in terms of their activities, interests and opinions (AIOs). Customised products and strategies aligned with these dimensions can be developed, and by so doing, improve profitability.