The National Retail Federation predicts overall retail sales will grow just 2.8 percent this holiday season, but some luxury retailers have their sights set higher, in part to their amped-up digital marketing efforts.
Even if you made a choice 18 months ago to pare back on the ad and marketing budget, it’s not too late to minimize the damage. Companies that increase ad/marketing budgets during a recession-recovery phase can still yield long-term dividends in terms of profitability and market share.
Over the last few years many companies have reacted defensively to the recession: tightened their belts, and braced themselves for slower growth. Its doesn’t have to be that way. While we don’t control the factors that cause a recession, we can optimize the factors we do have control over and do our best to build [...]
Today’s lingering recession has loyalty marketers scratching their heads over the dwindling aspirations of top-drawer prospects. Sales in upscale brands are down 10% or more. Buyers have turned practical – preferring qualities like durability and low cash outlay upfront over the “flash a Rolex in your face” brashness of the 90s dot-com boomers.
Penn, Schoen & Berland Associates, with sponsorship from LinkShare and gsi interactiveSM study shows that online shoppers are seeking value, not just the lowest price, according to research. Almost 75% of consumers are focused on the value, not the brand. 63% have purchased something online they wouldn’t have normally because of a special offer. Read [...]
Half of American consumers have defected from national brands to store brands for food, household, health and personal-care products, but most are still reluctant to switch to store brands for child- and pet-care purchases, according to research from ICOM released on July 9, 2009. A May 2009 ICOM study of 1,530 American consumers revealed key [...]
[Business Times, July 7, 2009] Focusing on core customers can make a critical difference both now and in the long term Economic downturns can wreak havoc on customer relationships. Deep cost-cutting compromises service. And to make up for lost revenues, companies sometimes add new charges and fees, which make customers feel they are being gouged. [...]
The ability to master multi-channel marketing is becoming increasingly vital for companies as they are struggling with the dynamics of how to profitably grow their business in a changing economy. Employees are disgruntled and shareholders are dismayed. And unfortunately, a recent study by Experian shows that many retailers and home shopping companies are failing to [...]
[Convenience Store News, 1/28/09] I was very impressed when I read what Harry McHugh, Wawa’s senior vice president, said about the convenience store’s strategy for surviving the downturn in the economy. The company’s focus on maintaining the customer experience is sure to lead Wawa’s way out of difficult times. Intensifying the company’s focus on the [...]