This week's edition is dedicated to what consumers are committed to buying no matter how bad the economy and what purchases are being delayed. These trends present some great cues for online promotions - both for prioritization and avoiding pitfalls.
And this is important, because as Phil Rist, EVP of Strategic Initiatives at BIGresearch says,
"The media are doing their best to convince
Americans that the economic tides are turning --
especially since the numbers on Christmas
selling were mostly upbeat. Shoppers may have found a way
to put gifts under the tree, but looking at the
data, you get the distinct feeling that
retailers will have to wait a while longer
before shoppers return to their free-spending
ways - if they ever do."
Consumers weigh in on what's untouchable -
Internet service, cable TV, and cell phone service are things that almost everybody must have, no matter how bad the economy. This information is according to research from NRF's STORES research. Interestingly, 27% of us still cannot live without that new pair of shoes.
Which big ticket purchases are consumers delaying
NRF's online wing, shop.org did similar research, but focused on big ticket purchases and consumer perceptions around delaying or permanently eliminate from shopping lists. From an online perspective, the biggest category that takes a hit is travel. Vacations are being slashed by many.
Picture of the Week
Happy Valentine's Day!