Richard J. George, Ph.D.

Retail Customer Experience: ISME 09 - Seven Tips for Marketing to Families During a Recession

October 19, 2009

FROM RETAILWIRE:
In a Wednesday afternoon session at the 2009 In-Store Marketing Expo, retail consultant Elizabeth Harris of consultancy Rivet laid out a wealth of statistics on how the recession has changed the spending habits of the typical modern family. Of the seven tips for marketing to families during a recession mentioned in the article, which ones are most important?      [more...]

There is no doubt that consumers are recalibrating. While this article focuses on the search for enhanced shopper and consumer value, there is a similar recalibration happening when it comes to values. For some, over consumption no longer equates with success. While frugality is the buzzword, so are the renewed concerns for health and the desire to spend quality time with family and friends.

Marketers need to address both "V" aspects of consumer recalibration (value and values), plus a third V: being valued. Successful marketers will be those who become/stay more relevant than their competitors. The 3 Vs of relevancy will include the two noted, namely, delivering value (discussed in this article) and demonstrating the organization's values, as well as showing customers that their business is valued. This economic crisis provides many opportunities to the marketer who never lets a good crisis go to waste.