A recent issue of Media Post Marketing Daily suggests that some consumers are going back to their old favorites; stores or products they abandoned in the name of frugality with the onset of the great recession.
Implications: While it is dangerous to make sweeping statements about consumer habits, there are signs that some folks are going back to their old ways… a trend that would be fortified through continued improvement in the job market and our collective sense of job security, among other things.
Remember, though, the pack mentality can only take you so far. Your customers might feel or behave differently than the customers who are loyal to a competitor. Indeed, your customers might feel differently when shopping for a restaurant than when they’re shopping for a car.
“The Recovery” will be a very individual thing, decided by the individuals involved. Are you listening to your customers?
Mike Anderson
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