The Center for Media Research has released a couple of reports lately that give us an opportunity to get into consumer's mindsets as it regards spending and attitude.....
"Results of the latest Harris Poll of 2,498 U.S. adults surveyed online show that there is a slight sense of optimism regarding the economy. 46% of Americans believe the economy will improve in the coming year, while 32% say it will stay the same and 22% believe it will get worse. In May, just under two in five believed the economy would improve in the coming year while over one-quarter said they thought it would get worse.
|
Expectations Of The Economy In One Year (Base: All Adults, % Of Respondents) |
|
|
April |
May |
Aug. |
|
Improve |
39% |
38 |
46 |
|
Stay the same |
35 |
35 |
32 |
|
Get worse |
26 |
27 |
22 |
|
Source: Harris Poll, August 2009 |
One-quarter of Americans believe that their household financial condition will be better in six months while half say it will remain the same and 28% believe it will get worse. the 28% who say their household's financial condition will get worse in the next six months is the lowest number who believes that since this question was first asked in February of 2008.
|
Anticipated Households' Financial Conditions In 6 Months (Base: All Adults, Percent Of Respondents By Category) |
|
Region |
Total |
East |
Midwest |
South |
West |
|
Better (Net) |
24% |
23 |
19 |
27 |
26 |
|
Much better |
5 |
5 |
4 |
5 |
5 |
|
Somewhat better |
20 |
18 |
15 |
22 |
21 |
|
Remain the same |
48 |
53 |
51 |
46 |
44 |
|
Worse (Net) |
28 |
24 |
30 |
27 |
30 |
|
Somewhat worse |
22 |
19 |
24 |
21 |
24 |
|
Much worse |
6 |
5 |
6 |
6 |
6 |
|
Source: Harris Poll, August 2009 |
The second report addressed Cautious Holiday Shopping and had several interesting survey statistics that you can share with your clients and formulate some strategies around....
"
Concern about the price of food has dropped more than 20% this year (98% in 2008 versus 77% in 2009)
Expressed concern for the effect of gasoline prices on holiday shopping has dropped by 10% compared to 2008
Utilitiy concerns saw a similar decline, down just over 9% from 2008
The overall effect of the recession on shopping decisions has decreased nearly 5%
Job stability concern remains top of mind, with only a 1% decline
More than 81% of consumers say religion is a major factor in their holiday celebrations
More than 98% of shoppers will make spending time with family a priority in the holiday season
93% of consumers' holiday plans include getting together with family and friends over the dinner table and at parties
More than 90% of shoppers are making gift-giving a priority, up nearly three percentage points from last year
79% say budgeting, and 60% say matched quality to name brands remain leading reasons for the switch to private label.
92% of consumers will do grocery store holiday shopping based on sales, discounts, product selection, and in-stock items.
23% of shoppers have a gift-giving budget over $799, down 13% from 2008
11% more plan on budgeting up to $499 this year for gifts than in 2008
71% of consumers will not be giving food as gifts this year
only 18% will be making their gift purchases without a shopping list.
An 18% increase in online shopping from 2008 is expected, when only 41% of consumers shopped online"
This will be a year of the savvy shopper so start working with your clients now to develop the strategy to bring their unfair share of the market into their doors.