(1888PressRelease)
November 11, 2008 - Chicago, IL – With a volatile financial climate and rising food costs, this Thanksgiving could be less feast and more coupons according to a new survey by The TrendSight Group, a consulting think tank that helps companies get smart about marketing-to-women.
According to a GenderTrends™ online survey, 85% of women surveyed say they have been personally impacted by rising energy and food prices. And, while many women say they won’t change things for special occasion meals, nearly 30% surveyed say they will be utilizing coupons this Thanksgiving due to the rising costs.
“And that’s a conservative number,” says TrendSight founder and marketing-to-women expert Marti Barletta. “We expect that number to rise significantly the closer we get to Thanksgiving.”
Today’s economic environment has caused Americans to experience a shrinkage in their spending power and view the future as risky, with likely more hard times ahead.
Barletta expects this holiday season will see an increase in private label and club stores, with consumers looking for more ways to cut back on prices without sacrificing quality. A switch will also move away from convenience foods to more from-scratch or close-to-scratch cooking. And that’s just the beginning.
“We can expect this financial situation to lead to some major changes in spending patterns and priorities, affecting businesses in almost every industry,” says Barletta. “And while some, like couponing, may be short-term adjustments until the economy improves, there will be many long-term shifts that will last for a decade.”
In addition to aggressive couponing, to reach the Thanksgiving meal planner Barletta suggests retailers should provide easy ways for shoppers to compare prices, provide ready-made at the right price, concentrate on essentials rather than indulgence products and use marketing and imagery that focuses on the tradition or ritual of cooking the Thanksgiving meal.
About The TrendSight Group
Founded by Marti Barletta, The TrendSight Group is a consulting think tank helping companies get smart about women through marketing, sales, recruiting and retention effectiveness. Clients have included Deloitte Consulting, Volvo, Ford and Logitech. The recognized thought leader on generating business growth through insights about women, Barletta is a popular speaker and author of two books: “Marketing to Women” and “PrimeTime Women™: How to Win the Hearts, Minds and Business of Boomer Big Spenders.” For more information visit: www.trendsight.com.
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