Today’s Marketing Daily featured remarks by George Magliano, principal automotive economist for IHS' Global Insight research division. Speaking at an event on Friday, Magliano explained his why he thinks the U.S. automotive recovery is still moving forward, while acknowledging that risks remain for the category. Click here to see the MD story.
Compared to late last year, emerging risks include continuing unrest in the Middle East and the pace of the recovery from Japan’s tsunami disaster. The ongoing stagnation in the housing market and job creation also challenge the industry. On the positive side, Magliano cited falling gas prices and the value of the dollar (which gives U.S. exports a pricing edge for now).
Implications: This story is a good example of how important it is to watch several influencing factors, rather than one or two headline-worthy issues.
Just make sure one of the issues you’re paying attention to is customer feedback. Success is less driven by what we think will happen; it is fueled by what the consumer thinks will happen.
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.