Data & Research Personal Finance

Survey: What Are Americans Doing With Their Tax Returns in 2019?

March 4, 2019

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Survey: What Are Americans Doing With Their Tax Returns in 2019?

As the deadline for filing taxes for 2018 rapidly approaches, we at BitBounce sought to understand how consumers plan to use their tax returns this year. After surveying 600 Americans across multiple demographics, we spliced and analyzed the dataset to understand how each segment of the population planned to spend or save. The results were interesting, particularly if you’re a digital marketer that plans to market to consumers in the upcoming months.

1. Purchase Intent by Gender

The following statistics refer to respondents who are planning on making a purchase with their tax return.

Women are most likely to purchase:

Of women who plan to make a purchase with their return, over 1/3 planned to take a vacation, while about 1/4 planned to buy clothing.

  • Vacation (35%)
  • Clothing (23%)
  • Appliances (14%)
  • New Car (13%)
  • Beauty (8%)
  • Electronics  (6%)

Men are most likely to purchase:

Men similarly planned to purchase both vacations and clothing with their tax returns. However, electronics made up a much larger portion of planned spend compared with women, at 23% of all respondents.

  • Vacation (27%)
  • Electronics (23%)
  • Clothing (21%)
  • Car (19%)
  • Appliances (3%)
  • Beauty (2%)

2. Purchase Intent by Age

The following statistics refer to respondents who are planning on making a purchase with their tax return.

Millennials are most likely to purchase:

  • Clothing (33.3%)
  • Car (20%)
  • Electronics (17.4%)

Gen Xers are most likely to purchase :

  • Clothing (32.7%)
  • Vacation (22.4%)
  • Electronics (17.2%)

Baby Boomers are most likely to purchase:

  • Vacation (49.0%)
  • Household Appliances (17.6%)
  • New Car  (11.8%)
  • Clothing  (11.8%)

3. The Most Effective Marketing Incentives

By Gender:

Both men and women are most incentivized by buy-one-get-one-free (BOGO) offers, though men care more about receiving this promotion than women (32.6% of men vs. 27.9% of women).

Women value free shipping and discount codes about evenly (24.1% for free shipping vs 24.8% for discount codes). Men value discount codes (24.8%) over free shipping (21.5%)

Men prefer BOGO across all generations and this promotion works well for all male focused brands.

Brands that target women need to be more aware of the exact generation of their customer base as there are slight differences in their preferences. Millennial women most value discount codes (32.2%), almost twice as much as they value BOGO. After discount codes, millennial women want free shipping at 21.8%.

By Age:

Gen X women are most motivated by BOGO at 29.2%, followed by discount codes at 24.7%, followed by free shipping at 16.9%.

33.6% of Boomer women want BOGO offers, followed by free shipping at 30.1%, and discount codes at 20.3%.

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