by Kristen Sullivan | May 29, 2009
“Businesses who want to do more than just survive [the economic climate] should see this moment not just as a time for retrenchment but as a time for repositioning,” write Mark Penne and Kinney Zalesne in the debut issue of the DMA’s e-publication the Point.
Penne and Zalesne, the authors of the Wall Street Journal column MicroTrends: The Small Forces Behind Tomorrow’s Big Changes, contend that consumers are now interested in knowledge and value. “American shoppers are…more like professors and priests, chasing and absorbing knowledge, and trying to align with some larger good,” they write.
I love this description- though I’d add one more word to ensure both meanings of “value” are conveyed: Today’s consumers are like frugal professors and priests. They take the time to find products and companies in which they believe and where they can get a deal. As our country endures a harsh hangover from our earlier credit-happy days, many Americans are taking new pride in becoming responsible consumers.
Online tools make it relatively easy for consumers to transform into savvy shoppers. Information about companies, products, and deals abound on the internet. As we know, this information is no longer controlled by retailers or their advertisers. Well-informed, responsible consumers now have the ability to make their peers responsible as well. This means that retailers can’t just preach value – they need to deliver.
Retailers who quickly grasp the changing ideals of American shoppers likely will fare this dark economic period best. In the direct marketing world, this means listening to consumers’ demands to cut down on spam and eliminate waste while still delivering high value coupons, deals and other offers. Because remember, today value trumps all, but you have to prove you’re offering it.
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