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Tuesday, October 11, 2011

Another holiday forecast; this one calling for “precision” purchasing

Implications:   This study is important because it goes beyond the “what,” to ask “why?”  Consumers are citing less discretionary income, less money in savings, and an increase in living expenses as reasons they will shop—but with caution—this gift-giving season.

How will your respond to these attitudes toward holiday spending?  If the consumer is going to be more careful, that means they’re going to do more research in advance.  If you haven’t already, now is a great time to re-evaluate your website and make sure it provides maximum assistance to the research-hungry consumer with minimum effort and time invested.

Also, ask yourself whether your fourth quarter messaging appeals to the things that are most important to your target consumer.  It’s important to be high on the shopper’s consideration list, especially when they’re doing lots of research in advance.  (When the consumer is shopping for the products or services you sell, it’s important to be very high on their consideration list; they will probably buy before they make it to store #6 or 7.)

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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