Think of It as Scaling Down  "It's not all doom and gloom in the U.S. economy," Deb Riechmann says in a recent AP article. "Some products are bucking the recession and flying off store shelves."
Folks still have to live—and indulge a little—even in a recession. That's the message of this report, which gives an overview of the changes in consumer behavior since the Wall Street meltdown. It seems shoppers really aren't giving up the things they love; they're just scaling down their choices. Here's a sampling of the cited changes in consumer behavior:
Wine drinkers are still imbibing—but they're "looking more closely at cheaper selections."
Used car sales are on the rise, as are parts at auto stores.
Sales at Goodwill Industries are booming—while those at luxury retailers like Saks have plummeted.
Comfort food is king: Chocolate-maker Hershey's sales were up 20 percent in the first three months of 2009; sales of Kraft Macaroni and Cheese have gone through the roof.
Do-it-yourself is tops. Consumers are "buying things that they can use themselves," Riechmann says, such as fishing equipment and seeds for at-home vegetable gardens.
DIY fitness is booming. Sales of running shoes are robust, as are those of bicycle helmets.
The message for marketers here? Customers are buying products that resonate with their new focus on thrift, on the home and on indulging just a little.
The Po!nt: Focus your message, and they will buy. Push the scaled-down, do-it-yourself, or slightly indulgent relevance of your products to keep customers loyal.
Source: AOL Money and Finance. Read the full article here.
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