What Kind of Frugal Consumer Are You?

One of the outcomes of this recession–beyond the obvious–is that consumers now fall into four different categories, so says a new study entitled “Marketing to the Post-Recession Consumers,” by the marketing strategy and research firm Decitica. Those categories are:

1. Steadfast Frugalists
2. Involuntary Penny-Pinchers
3. Pragmatic Spenders
4. Apathetic Materialists

Here’s a little more about what makes someone adopt one of these four monikers.

Steadfast Frugalists
Steadfast Frugalists are committed to self-restraint, engaging in prudence with unequivocal enthusiasm. They make up about one-fifth of the American consumers, representing all income and age groups. Researchers found that these folks were the least brand loyal and most likely to discount marketing messages. Eighty-percent of Steadfast Frugalists say the new behaviors they have adopted will likely stay with them for a long time.

Involuntary Penny-Pinchers
Involuntary Penny-Pinchers (about 29% of the population) have been severely affected by the recession. They are mainly made up of households with less than $50,000 in income, with more women than men. They feel forced to embrace thrift, and, not surprisingly, the recession has had a heavy emotional impact on these Involuntary Penny-Pinchers; they admit to being more scared (77%), stressed (81%) and worried (87%) about the future than other groups.

Pragmatic Spenders
Researchers believe that Pragmatic Spenders (29% of the population) are the most attractive group for marketers because of their higher spending power, even though they have, in fact, curbed their spending in recent time. What makes them different from the other three kinds of consumers is that they are the most capable, both psychologically and financially, to willfully resurrect their past spending patterns. Only 28% of Pragmatic Spenders feel the recession has changed what and how they will buy in the future, compared to 55% of Steadfast Frugalists.

Apathetic Materialists
Apathetic Materialists seem to be the least changed by the recession. They have not embraced the new frugality to the same extent as others. More men (55%) are apathetic materialists as are Gen X and younger folks (72% are younger than 40). These folks are the least driven by price: only 8% admit to being very focused on value compared to 30% of Pragmatic Spenders and 52% of Involuntary Penny-Pinchers.

So, given this information, I’d say I fall somewhere in between a Pragmatic Spender and a Steadfast Frugalist. What about you? Which category or categories would you put yourself into and why?