The lesson to marketers from an election ? Consumers are becoming anti-brand shoppers
Consumers,
more and more, are becoming more and more
skeptical of big brands. They no longer take for
granted push messages that hold shallow promises.
They are going to scrutinize your brand from top
to bottom including your customer service and if
you don't over-deliver they are going to drop you
like a bad habit. Need more proof? Just ask any
retailer about sales of private label products
and that should pretty much put the fear of God
into you while you schedule a "come to Jesus"
meeting to determine what you need to do and
where you need to go.
Trying to save
where they can, consumers continue trading down
across spending opportunities. Eight in 10
Americans say they’re cooking at home more now,
while a full 52% admit to spending less at
restaurants this year than last. Meanwhile, some
54% of are buying more food on special offers,
while more than a third (36%) are trading down to
budget private label brands.
With so much trading down, however, many
consumers also trade up in some instances to
reward themselves. Small luxuries such as fine
chocolate or perfume are a common treat, while
other shoppers purchase gourmet food at the
grocery store because it’s still more affordable
than eating out. The key is to make your product
a reward to consumers who feel very much in need
of some type of recognition.
