STORES Magazine - December 2008 - (Page 13)

ifty-eight percent of consumers say that they have focused more on what they need rather than what they want in the last six months. Half of all consumers say they’ve become more practical and realistic in their purchases, and 48 percent believe they’ve become more budget-conscious. Welcome to the new world of consumer economics. Post-bailout and bracing for more bad news on the unemployment and foreclosure fronts, shoppers surveyed by BIGresearch for the latest Consumer Intentions and Actions Survey (CIA) are feeling pretty melancholy about their personal financial situation. Only 22 percent say they are confident or very confident F about the chances for a strong economy during the next six months — a figure that drops to 16 percent among those 55 and older. A sizable majority — 78 percent of the nearly 9,000 adults polled — have little or no confidence about the prospects for an economic recovery. Forty-nine percent of consumers say they feel “worse off” regarding their financial situation than they did at the same time last year, and an identical percentage indicate that there is “too much month at the end of their paycheck” all or most of the time. Among consumers with a household income of $50,000 or less, that figure jumps to 60 percent. More than half of those polled (54 percent) said that they either “disagreed” or “strongly disagreed” with the statement, “My philosophy of spending is, ‘Live for today because tomorrow is so uncertain.’” Only a quarter strongly agreed with the statement, “I am saving enough to meet my future”; more than half disagreed or strongly disagreed, and 29 percent are uncertain as to whether they are saving enough for future needs. ucts than they were a year ago; 65 percent were extremely concerned about the safety of produce grown outside the United States, with the greatest apprehension coming from older consumers. Survey respondents indicated they would like more information about the safety of food products provided on packaging (86 percent), company websites (81 percent) and by the government (81 percent). In addition, 67 percent said that food product labels with country-of-origin labeling, certification of product testing and certification of quality testing would be extremely important in their buying decisions. Total Recall Media reports of recalls create more than just a brief sales blip. Research and consulting firm Deloitte recently conducted a nationwide survey to measure consumers’ perceptions about the safety of the U.S. food supply and consumer products. It found that 58 percent of those who had heard about product safety and/or quality problems changed their buying habits, turning away from such products for an average of more than nine months. These changes in buying habits were most common for fresh food and packaged food/beverage products. Roughly half (49 percent) said they were extremely concerned about product safety, with the greatest concerns coming from women (53 percent) and consumers 55 years of age and older (56 percent). Given the widespread media attention to numerous recalls that have occurred over the past 18 months, there is a broad awareness about product safety and quality problems. More than half of respondents (54 percent) said they were more concerned about the safety of fresh food prodWWW.STORES.ORG Headless Horseman Rides Again Chicagoans are a pretty unflappable group, but a number of residents in the city’s Wrigleyville neighborhood were bemused at the recent sightings of a galloping headless horseman. It turns out this wasn’t some paranormal experience; it was an experiential marketing campaign deployed by Meijer and SmartReply. Meijer’s ad agency, Devito/Verdi USA, posted “wanted” posters that STORES / DECEMBER 2008 13 http://WWW.STORES.ORG

Table of Contents Feed for the Digital Edition of STORES Magazine - December 2008

STORES Magazine - December 2008 Contents Executive Editor's Page President's Page Wrap Rage Unraveled What Shoppers Think Courting a Comeback 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Cover Story: Navigating the Road Ahead Website Strategy Concept2Watch Online Customer Service International Marketing Green Retailing Online Merchandising Signage Operations Online Strategies Pricing Strategy Kiosks RFID Human Resources Loeb Retail Letter ARTS Update Point of View NRF News Retail Crossword Retail Industry Calendar Last Laugh

STORES Magazine - December 2008

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