A recent story from Marketing Daily indicates companies like Lowe’s and The Home Depot are banking on consumers not only staying close-to-home for this year’s vacation… but staying in their home.
Implications: When we were raising a young family, I remember spending several vacation days on the quest of building a fence, adding-on a deck, or engaging in some other form of home improvement. Instead of getting away to a better place, it was an affordable alternative that made our place better.
The strategy of encouraging these stay-at-home working vacations might be pretty smart; young families are not the only folks being cautious with their money these days.
This is another example of consumers being encouraged to “Compare Apples to Oranges,” in which the airlines or travel agencies might compete with the home improvement store, not just other travel options. The furniture store might be competing with the home electronics store. And the high-end appliance store might be competing with the upscale restaurant.
Who do you compete with… other than your competitors?
Mike Anderson
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