Marketing to Moms: Consumers Feel Shopping Changes are Long-term
August 10, 2009 § Leave a comment
I was listening to friends talking today about back-to-school shopping. They were comparing the variety of offers and loyalty programs available from their favorite retailers. The winner seemed to be Kohl’s because of their special credit card discounts combined with their sales. Their shopping trips were planned to take advantage of the tax-free day and coupons or rewards they had accumulated from favorite retailers. And my friends are no different from the majority of moms who are spending more time calculating price versus value for their retail purchases.
There is evidence in current findings from BIGresearch that the habits we are learning during this downturn will have long-lasting effects. In their July 2009 report, their research showed:
- About nine in ten (88.9%) believe the current economic crisis will impact their lifestyles over the next five years
- The majority (52.1%) simply plan to consider each purchase more carefully
- While almost as many (48.8%) intend to be more price-conscious when buying food and clothing.
- Additional plans include sticking to a budget (46.7%), dining out less (45.2%), and not racking up a large amount of credit card debt (42.4%)
This new mindset will be important for marketers. Value will continue to be of prime importance, with consumers taking the time to determine whether a brand is relevant to their needs and lifestyle. The brands that speak to a consumer’s deepest needs of value, convenience and personalization will become more important in the next five years.