Generation X, a demographic born after the post-World War II baby boomers, generally has a positive outlook on the economy, but that doesn’t mean they are free spenders. In fact, they are more frugal than baby boomers and seniors are, according to SymphonyIRI Group’s Q3 2012 MarketPulse, an ongoing survey series that analyzes consumer sentiment about the economy and how the evolving economy is impacting their attitudes, perceptions and CPG shopping behaviors.

On the surface, it might seem Gen-Xers have more in common with boomers, but the reality is that they share many of the same penny-pitching, tech-savvy traits of millennials, SymphonyIRI said.

The Chicago-based market research firm also said results from its latest Shopper Sentiment Index show that U.S. consumers generally have been demonstrating an increasingly positive financial outlook during the third quarter of 2012.

“From seniors and millennials to Hispanics and moms, our MarketPulse survey has allowed us to examine a vast array of critical consumer segments during the last year,” said Susan Viamari, editor of Times & Trends, SymphonyIRI. “Now, we are filling in another piece of CPG marketers’ consumer puzzle by checking the pulse of Gen-Xers with our latest survey. Sandwiched between baby boomers and millennials, Gen-Xers are aged 35 to 44 and are sometimes referred to as the ‘ignored generation.’ However, these consumers have well-established careers and families, and their spending power should not be overlooked by CPG retailers and manufacturers.”

Gen-Xers were graduating from college and entering the adult world after the 1987 stock market crash and the recession that followed, SymphonyIRI noted, so many were left jobless and moved in with their parents. This somewhat “bleak inheritance” shaped their future financial attitudes and shopping behaviors much like the Great Recession influenced millennials.

Even though Gen-Xers are more financially optimistic when compared to the average shopper—24 percent think their financial situation has improved during the last 12 months, and 37 percent feel their finances will improve during the coming year—this generation is very cost-conscious and careful about purchases. According to the MarketPulse survey results related to Gen-Xers:

• More than a third (37 percent) buy brands that are on sale rather than their preferred brands — versus 45 percent of millennials, 27 percent of baby boomers and 22 percent of seniors.
• Almost a third (32 percent) select products to create more meals at the lowest cost possible — versus 39 percent of millennials, 27 percent of baby boomers and 19 percent of seniors.
• One-third (33 percent) choose products based on loyalty card discounts — versus 35 percent of millennials, 25 percent of baby boomers and 16 percent of seniors.
• One-fifth (20 percent) steer clear of certain aisles to avoid unplanned purchases — versus 22 percent of millennials, 15 percent of baby boomers and 11 percent of seniors.

Of course, it takes some planning and forethought to save a buck, so Gen-Xers also do their homework before heading to the store, SymphonyIRI said. A whopping 69 percent make shopping lists and use a variety of tools in their list-making process. Almost half (49 percent) review circulars; 48 percent use coupons; 14 percent leverage the Internet; and 10 percent refer to a retailer’s website. And when it comes to list-making, Gen-Xers’ coupon, Internet and retailer website usage is comparable to millennials’ and higher than baby boomers and seniors.

Although millennials often are touted as the most tech-savvy generation, Generation X is actually right on par with that generation, SymphonyIRI said, and much more “wired” than boomers and seniors in a number of ways when it comes to CPG-related behaviors. For example, 55 percent of Gen-Xers download recipes from websites and other online sources; 52 percent download coupons from manufacturer websites; 51 percent download coupons from retailer websites; 51 percent download coupons from couponing sites such as SmartSource; 38 percent research products online; and 35 percent visit deal sites such as Woot and Groupon. In addition, 31 percent use social media sites such as Twitter and Facebook to get coupons; 23 percent look for updates from retailers or manufacturers via email or text message; 18 percent research products on blogs; and 7 percent purchase groceries online and have them delivered.

For more information, visit www.symphonyiri.com.