The era of inflation and high interest rates is upon us, which means that customers are being more frugal. The “R” word (recession) lurks in the backs of our minds. Local business owners are wondering, “Is there such a thing as a recession-proof customer?”
Turns out, there is. And that customer base is active-duty military families. Here are the top four reasons that military families are recession proof.
1. High Spending Power
There are an estimated 1.3 million active-duty military service members. Their spending power is 13% higher than the average national household.
They spend on apparel, buy and sell houses due to frequent moves to other bases, and spend on education, travel, electronics, and cars more often than the average family. They’re always moving around (roughly every two years), so they always need new sources for products and services that they depend on.
94% of the military audience says they’re more likely to buy from a business that supports them directly. Military-friendly businesses that provide discounts and personalized offers enjoy a loyal customer base.
Our service men and women strongly identify with their place in the military community. A business that’s friendly to this community and understands them is positioned to deliver remarkable service that can earn their loyalty.
3. Military Spouses
There are about 1 million active-duty military spouses, 90% of which are female. They are the glue that holds the military family together, especially when the active-duty family member is on deployment.
They might handle all the logistics whenever the family moves to a new base, from finding a new school for the children to buying a new house while reselling the old one. Understanding and supporting them, in particular, is key to successfully reaching the active-duty military audience.
4. The Military Is Here To Stay
There will always be a military. As such, this audience is recession proof! Beyond the active-duty military, there’s a greater community composed of Veterans, reservists, the National Guard, spouses, and families who are open and eager to find new military-friendly businesses.
For more information on how to market to your local military audience, please visit www.militaryadvertising.com.