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Volume 4, Number 4
May 2010 Quick links
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Consumer spending is boosting the outlook for the nation's retailers, but some major retailers are still lowering prices and running special promotions to attract bargain-hungry shoppers. "Customers are starting to shop again, and we are hearing many anecdotes from our stores that they are seeing customers they haven't seen in some time," says Leonard McCoy, the CEO of large regional furniture chain, "They have pent-up demand." Indeed, new home sales improved in March at the fastest single-month rate in 47 years, according to a recent government report, along with stores that sell more to the middle class. So many people have stepped up shopping that last month's retail sales compared with March 2009 showed the biggest increase in more than 10 years. Many purchases still tend toward the practical, but luxury retail sales were way up, and furniture stores definitely made a comeback. "Promotions and things that drive traffic are still critically important," said Mark Snyder, chief marketing officer at Kmart. "I don't think we're out of the woods." Although merchants are moving away from the drastic price reductions that were necessary during the recession, they still are trying to entice shoppers with special promotions. Emerging consumer research shows that shopper behavior has changed dramatically, with shoppers acting in a more deliberate and mindful manner. A recent IRI study found that 64% of consumers say they are now making lists before they shop, while 51% consider coupon promotions an important factor in their purchase decisions. Now is the time to capture your customer’s attention, now that they are coming back into the market. Adding emotionally appealing incentives such as gift cards or consumer electronics is the perfect way to catch their eye, encourage them to visit your store, unleash their pent up demand, and make a purchase!  To learn more about these and other great lead generation ideas, visit us at www.mpell.com , email us at marketing@mpellsolutions.com or call us at 760-477-9261.  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 in this tough economic climate.
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