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Volume 2, Number 9
October 2008 Quick links
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The financial meltdown that's shaken the American economy to its core has already affected consumer spending, and in the coming months will make consumers more tightfisted when it comes to eating in restaurants, traveling and shelling out for big-ticket items. A recent internet poll found that nearly 80% of respondents have changed their buying behavior in the past few weeks, hitting product categories at all price points. Some 70% of respondents said they're curtailing overall spending, which is sure to lead to bad news as the holidays approach. The poll also found no relief for the auto industry: Only one-tenth of respondents have purchased a car in the past three months or plan to purchase one in the next three. And a whopping 80% are postponing vacations.
There was something of a silver lining for marketers trying to figure out how to proceed during a time sure to be marked by a focus on savings. The poll found that 81% of consumers said advertisers need to continue to communicate about their products during a recession, adding that they'll be more receptive to cost-savings messages. Now, more than ever, you need to appeal to your customers’ emotions and impulses by offering a special incentive to motivate them to action. No Restriction Travel Incentives: $300 Value/ $30 Certificate
Wireless Phone Service Rebate: $50 Value/ $10 Certificate
Remember to ask about the FREE GIFT with your next purchase!
We’ve noticed that special incentives and promotions are taking a more dominant position in print, online, and media creative. The urgency for a truly compelling call to action is increasing.
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