55% of consumers said that they make aspirational purchases, like buying designer items or expensive status symbols, less often now than they did just five years ago. And according to a report from NPD Group, the idea of aspirational brands is currently undergoing a major shift. Where consumers once were willing to stretch their budgets to make purchases based on status or style, many are now more concerned with practicality and saving money.
Luxury brands may have to adjust their marketing. Today, most Millennials aren’t interested in spending their hard earned money for “status” brands as everyday brands close the gap with what luxury brands have to offer. Continue reading
After years of disruptive change that has lead to better informed, more empowered consumers, it has become more difficult than ever for brands to control customer perception with traditional marketing. There is a shift from trying to get new customers to ensuring that your brand experience is a good one.
With all the hype around social media and digital marketing what we are learning now is that POP displays and things like packaging can still lead to conversion. Despite a shopping list being a tool to stay on budget and eliminate unnecessary purchases, research shows that nine out of ten shoppers still buy items not on their list. Continue reading
The U.S. recovery from the Great Recession is still one of the worst recoveries in history. Consumers are being very careful about how they spend their money and which brands they let into their lives yet some brands continue to act like we are free of the restraints of the last recession. Continue reading
Forrester found that visiting a company’s website is the number one way fans prefer to stay in touch with the brands [/inlinetweet]they love, outranking Facebook all the way down at number five. While their Facebook pages are brimming with exciting, yet unseen content, brand websites may be neglected – at a high cost to community interaction. Continue reading
The new iPhone is out and already people are reporting problems with the product. The first problem is a “hissing sound” some phones are making, the second is the failure of iPhones to pick up a cell signal once airplane mode is turned off. Apple’s reply? We’re looking into it. Continue reading
According to the research survey, 62% of U.S. consumers join retail brand loyalty programs to get discounts but only 36% have received a reward or promotion from the program that actually made them come back to the brand. One reason might be the fact that, according to the survey results, 81% of brand loyalty program members don’t understand the benefits they’re supposed to get with the program or how the program works at all. Continue reading