
Wallet Watching
by Ansley Phillips, Copywriter
First, let’s take a look at this season’s marketing and purchasing climate. Only 20% of consumers are reporting holiday spending cuts this year, as opposed to 26% in 2009 and 32% in 2008. Businesses are differently prioritizing their spending this year, putting more emphasis on TV than print and an extra emphasis on social media marketing. We have a lot to learn from this year’s holiday spending, in relation to both consumers and marketers.
One of the best ways to evaluate marketing trends is to study by case. Women with children under the age of 18 have the best brand perception of (in descending order): Target, Old Navy, Amazon, JC Penny, and Kohl’s. These heightened positive value perceptions are mostly due to sales extensions and discounts dealt. Other brand standouts this season include Dell and Jim Beam. Dell had some negative online feedback about their customer service, which resulted in a market share loss. In response, Dell launched their “You Can Tell It’s a Dell” Campaign, which brougth their index score from 48.9 to 55.6 in only three weeks. Jim Beam has been making generous headway on its biggest competition, Jack Daniel’s. Beam launched an online campaign on October 15th, revolving around the Black Label line and introducing the slogan, “Eight Years Changes Everything.” As usual, Jim Beam is leaving users feeling warm and satisfied.
Consumers aren’t sure the recession is over, but they’re also not tightening their belts as much this year. Jewelry purchases are up 13%. Jeans and appliances aren’t the most popular items this year, as opposed to last. Shoppers are basing decisions on overall value rather than price. Homemakers are looking to craft their own gifts and décor to authenticate the holidays, and craft stores are seeing glue guns and such fly off the shelves. People are practical yet optimistic.
Mobile shopping is having its biggest holiday thus far. More than 25% of Americans with smartphones will be shopping on it this season. Consumers are cross-checking prices, reading consumer reviews, transitioning to mobile purchasing from their social media outlets, and sending photos of gift ideas to their partners for feedback. Shoppers are flooded with advertising during the holidays, and mobile media marketing is a great way to target and connect with specific demographics.
There’s a lot to monitor this season: social media marketing, mobile marketing, brand positioning, interactive marketing, and promotional incentives. The 2010 Holiday Shopper is practical yet optimistic. And with the “Hug Me Pillow” out of stock, there’s no question as to why.