This morning’s Media Post Marketing Daily included a story with input from BDO (the accounting firm), which suggests more people doing more gift shopping this year, fewer discounts from retailers, and that email will be one of the main digital tools used by retailers to get customers into their stores (whether that store is composed of bricks or clicks). Click here to see the full story.
Implications: There was a subtle but important observation by Ted Vaughn (BDO) in this story, and I want to make sure you didn’t miss it. He asserted that some people cut back on their spending over the past few years because they had to, and others cut back because they thought they should. For those people who cut back out of caution, rather than necessity, some of that caution is finally starting to wear off.
During the darkest days of the recession, it would have been easy to assume that everyone was unemployed, everyone was being foreclosed on, and that everyone was in dire straits. Of course, that wasn’t the case then, and it isn’t the case now. Some people who decided to cut back on spending (rather than having that decision imposed upon them by debt or income circumstances) are continuing to loosen the purse strings, it seems.
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