"Winter Texan" Psychographics
The typical Winter Texan is an American retiree who is married and has a lot of spare time for recreational activities. They are mostly interested in traveling to regions with warm weather, low cost of living and enough social activities to keep them entertained. Also, this group of retired Americans are prudent spenders who aim to preserve their wealth.
ACTIVITIES, INTERESTS, AND BEHAVIORS
- According to a 2018 survey report published by The University of Texas, Winter Texans love to save on costs when shopping. They visit affordable destinations such as flea markets. "Lower cost of living" is among the "top two reasons" why these visitors relocate from their permanent residents during winter. Another common cost-saving habit common to this group is "shopping for cheap medicine" and "undergoing low-cost dental work".
- Some of their favorite recreational activities include "visiting historical sites", "attending festivals", and "music or jam sessions".
- They also like to take advantage of warm weather conditions by "going to the beach". These senior citizens are mostly from the Midwestern and northern regions of the United States. During the winter months, they migrate south in search of warmer weather. The most visited destination is the Rio Grande Valley where the average weather is about 72 degrees.
- Another important leisure activity to these Winter Texans is "visiting wildlife" or "nature refuges". This group of retirees also love to travel. Occasionally, they veer off to Mexico to purchase items before returning to Texas.
- Generally, these Winter Texans are older people with a lot of spare time and a craving for fun and entertainment. They cherish a friendly environment where they can socialize and meet new people.
SPENDING, SAVINGS, INVESTMENT, AND WORK HABITS
- Most Winter Texans, who are typically retirees, are prudent spenders that only withdraw money from their savings and investments when needed. According to a recent report by Investments and Wealth Institute, rather than deep hands into their savings, these retirees prefer to rely on guaranteed sources of income like pensions and social security, as well as dividends and interests.
- Some of their current financial goals include maintaining a "comfortable standard of living", and protecting their "current level of wealth".
- When expenses become more than expected, the typical retired Winter Texan would likely adjust his/her budget, live within means, reduce spending or find cheaper insurance options.
- According to a 2018 Global Atlantic study, major pain points expressed by this demographic include "not saving enough", "relying too much on Social Security", and "not paying down debt before retiring".
- According to a United Income report on "The State of Retirees", members of this demographic are spending less time working, reading, sleeping and eating. In a typical day, this demographic of Americans who make up the bulk of Winter Texans, spend about "two hours less on these activities" than they did 40 years ago.
To provide the psychographics of Winter Texans, our research team leveraged surveys, reports, and industry publications. Through this means we were able to achieve our primary goal of identifying information on the most common activities, habits, and interests among this group of people.
Next, we attempted to find additional psychographic information on the spending, saving, and wealth management habits of these Winter Texans. In doing this, we scoured industry publications dedicated to serving this group of people. Resources such as the Winter Texan Times, Winter Texans Online, and The Winter Texan Connection were reviewed. While these dedicated platforms provided several articles, guides and general insight about Winter Texans, there was no information regarding their spending, saving and wealth management habits. Our next strategy was to research the typical demographics of a Winter Texan. Here we hoped to triangulate a response using the demographic data identified. At this point, our research efforts indicated that this group of people primarily consists of retired white women, aged 72.3 years, who are married and permanently residents of Minnesota, Canada, Iowa, Wisconsin, Illinois, Missouri, Michigan, and Nebraska. From this demographic profile, we then searched through statistical and research platforms such as the United States Census Bureau and Pew Research. These sources usually provide information about the American people and the country's economy, as well as the social issues, values, and demographic trends that are shaping the United States. However, due to the specificity of our demographic profile, we were unable to locate information that addressed this unique group of people. Finally, we used web analytics tools such as SimilarWeb and SpyFu to analyze the websites dedicated to Winter Texans. Here we hoped to find data points such as back-links to these sites, their audience interests, and traffic sources. We aimed to use this information to establish logical conclusions based on the data provided. However, upon entering the web addresses of these platforms, there was little or no information available to leverage. It appears that this demographic does not frequently use the internet and so there is very little web history regarding their activities online.
Since we were unable to locate specific information on retired white women, aged 72.3 years, who are married and permanently resident in Midwestern and northern regions. We decided to expand our scope and provide general insights on the wealth management, savings and spending habits common to retired American as they constitute the majority of Winter Texans.