According to this story from the National Retail Federation and BIG Research, moms and kids are planning to up the amount they spend for Father’s Day this year. (Click here to see the story.)
Implications: I hope my wife and kids are reading this.
But seriously, folks.
This is one more example of the pent-up demand that can follow a recession. People have suppressed their spending for several years now (the recession was officially given a start date of 12/1/07 when it was announced in 2008).
Have people cut back on the amount they used to spend—or have they put-off buying entirely—the product or service you sell for financial reasons? What kind of offer, incentive, or product bundle might help them decide to unleash their pent-up demand?
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.
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