Mobile app Ibotta shares insights into analysis of 50 million receipts over three years
Mondays are the best day to buy a beauty bargain, research by mobile cashback app Ibotta has revealed.
Analysing a sample of 50 million receipts submitted by US consumers of all age groups over the past three years, Ibotta was able to identify consumers’ spending habits across ages and sectors.
Bryan Leach, founder and CEO of Ibotta, said: "By keeping a pulse on the shopping habits of millennials, whose shopping power continues to increase, our goal is to help them make well-informed decisions. We also want to help brands become better equipped to engage with this demographic.”
Deals on sunscreen and other beauty products were found to be most bought on Mondays, while weekends were found to be the most expensive time to shop.
The places to shop in the US for the biggest savings on beauty products were found to be retail chains Family Dollar, Dollar General and Kroger.
The 18-34-year-old age group are increasingly spending their money in specialised beauty and cosmetics stores with two times more millennials shopping at Sephora than those outside this category.
Interestingly, millennials were found to be 27% more likely to shop at Target than users in all other age groups. They also shop at natural grocery stores 56% more than non-millennials. However, the most shopped-in store across all ages was Sephora for beauty products and Walmart for groceries.
The findings also prompted Ibotta to crown LA in California the ‘vainest city’ in the US – the city where the most beauty products are bought across all age groups.