What effect is the recession having on listeners? BrainReserve's "Culture of the Recession" study has some very interesting statistics:
Half report buying more private-label products during that six-month period, and 24% say they now buy private-label brands virtually every time they shop (compared to 19% in 2007 and 17% in 2006).
Two-thirds (65%) believe we'll come through these hard times, but 86% are worried that health insurance will become unaffordable, and 69% are worried that that government will cut back on education spending. More than half (55%) fear they will outlive their money.
Of course, there are always some "eat, drink and be merry" types--the group BrainReserve describes as being out for "pleasure revenge." A third (35%) see uncertain times as a reason to "cut loose" and worry about the consequences later. One of five (17%) is drinking and/or smoking more, and 19% are having more sex.
Consumer electronics, including flat-screen TVs and video games, seems to be one of the very few category that has benefited as consumers become even more entrenched in cocooning to save money (43% report spending more on their homes, with consumer electronics on the top of the list)
Do your clients continue to market to keep or even improve the share they have in the market?
To read the complete article click here