Americans largely don’t feel confident about the future

SUMMARY: The stock market nor employment data captures what’s ailing most American families: rising costs for critical, necessary items. Meanwhile, despite wages eking up a little bit since the financial crisis, adjusted for inflation, Americans haven’t gotten a significant raise since 1999.

Any brand that is raising prices is helping consumers move to a competitor. With unemployment low marketers falsely believe that consumers are spending money, which is partly true, but consumers are hurting because of the rising costs of healthcare along with small raises.

The other issue that scares me is the rising credit card debt held be consumers. It’s a record levels now and sooner or later that bill is going to come due.

Private label products are eating branded product market share and for some brands to respond by raising prices is just plain stupid.

About richmeyer

Rich is a passionate marketer who is able to quickly understand what turns a prospect into a customer. He challenges the status quo and always asks "what can we do better"? He knows how to take analytics and turn them into opportunities and he is a great communicator.

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