June
Who Knew I Am Personally Helping Drive The Economy?
2009 at 01:48 pm Posted by Sherri Sharp
For all the gloom and doom I hear about the economy every morning on CNN, I read an article today based on a report just out in AOL Money and Finance that makes me feel a little better about things. And it seems I am even contributing to bucking the recession in some product categories. The report gives an overview of the changes in consumer behavior since everything went belly-up on Wall Street. It seems that consumers are still living their lives and not giving up the things they like, but are merely scaling down on choices. Lets see how I rate with these changes in consumer behavior:
• Wine drinkers are still imbibing—but they're looking more closely at cheaper selections. Check. You can't beat $3 bottles of Jackeroo Australian Chardonnay.
• Used car sales are on the rise, as are parts at auto stores. Check. Just last night my husband and I were talking about our next "new used vehicle" and who gets one first.
• Sales at Goodwill Industries are booming—while those at luxury retailers like Saks have plummeted. Check! Not only do I find some incredible deals on great brands, I'm helping to recycle.
• Comfort food is king: Chocolate-maker Hershey's sales were up 20 percent in the first three months of 2009; sales of Kraft Macaroni and Cheese have gone through the roof. Double check!! A glass of Jackeroo and mac and cheese are the ultimate comfort food after a long day.
• Do-it-yourself is tops. Consumers are buying things that they can use themselves such as fishing equipment and seeds for at-home vegetable gardens. Check. I have a sore back 3 days after planting new seeds over the weekend.
• DIY fitness is booming. Sales of running shoes are robust, as are those of bicycle helmets. Does a new pair of walking shoes count? If so, then Check!
So I can tell clients firsthand that it's not all gloom and doom. Customers are buying products that resonate with their new focus on thrift, on the home and on indulging just a little.
Source: Deb Riechmann, AP
Posted in: Marketing Musings
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