You know what they say: Knowledge is power.
You already know that the economy is stuck on A for Awful.
You know that shoppers are stuck on S for Staying Home.
It won’t hurt to know what consumers are thinking as the new year unfolds. A poll conducted by two marketing firms reveals the following:
- 51 percent of consumers say they have cut back on their standard of living in the past month. (OK, so it’s lousy news, but now you know they won’t be buying designer sunglasses.)
- 67 percent have cut back on clothing purchases (So, perhaps you trim apparel purchases on your next buying trip.)
- 58 percent have cut back on food purchases (For grocers, this must mean more necessities, fewer frills.)
- 57 percent have cut back on driving so that they can save on gas. (Make sure your Web site is up to date and working properly.)
The two firms conducting the poll were Leo J. Shapiro & Associates, a market research firm, and Schafer|Condon|Carter, an integrated marketing services agency.