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Marketers Need to Watch Consumer Strategies

June 25, 2009: 07:12 AM EST
Marketers need to tap into strategies being adopted by consumers if they are to keep their market share, according to UK Media agency Arena BLM. Its second “Crunchonomics” report, released in April, shows that people are beginning to blame the government for the way it is handling the crisis, and renewing trust in institutions, particularly banks. Despite this, 39 percent of the people surveyed said the economy would get worse. Consumer strategies identified in the report include reducing purchases of non-food items, suggesting a reduction in impulse buying. Food sales were up. More than 50 percent are considering own-label food and grocery products, brand loyalty is being questioned, and price is becoming more important.
Joe Fernandez , "Consumers are slowly learning how to cope_06-25-09", Marketingweek.co.uk, June 25, 2009, © Centaur
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