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The rise in gas prices, and the extended duration of those gas hikes, have changed the shopping habits of consumers for good, according to a new study from Yankelovich.
Marketers must take shoppers’ changes to heart when strategizing for the future. A new study from Information Resources Inc. indicates that gas prices will rise again in the spring of 2007, and that packaged goods marketers should begin planning for future periods of price escalation, writes Brandweek.
The Yankelovich study offers a profile of today’s consumer that looks something like this: 67 percent of shoppers will shop for several items at a single store instead of driving to various stores; 66 percent make price comparisons; 64 percent do reasearch before purchasing; and 63 percent wait for a sale before purchasing.
Consumers are also purchasing fewer items, choosing more durable products and picking private label brands over brand names. This indicates that they are more loyal than ever to brands they trust to be worth the money.
The Yankelovich study also indicates that more than half of consumers believe high fuel costs are here to stay. The average American household will spend 5 percent of pretax annual income on gasoline.
One of the categories most affected will be restaurants, with consumers opting for cheaper choices or not going out at all.
Katz Radio Group has snared two more major clients, having approached and signed CBS Radio and Entercom Communications, formerly clients of Interep.
CBS Radio represented about a third of Interep’s total revenue, writes Mediaweek.
Interep filed last month to convert its…
B-to-b publication revenue was down slightly in 2007, sagging 0.4% from 2006; it was flat from 2005, according to American Business Media’s Financial Trend Report.
Print advertising pulled 84% of the average b-to-b title’s revenue, writes Folio.
Editorial, advertising and circulation…
The number of Britons accessing the mobile internet increased by 25% (from 5.8 to 7.3 million) from Q2 to Q3 2008, compared with only a 3% increase for PC-based internet users (34.3 to 35.3 million Britons), according to (pdf) insight data…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
Black Friday is typically known as the day of unbeatable deals, but also long lines, packed stores, and jostling customers.
But this season, online retail giants Amazon and eBay are doing their best to get customers out of stores and…
Despite the U.S. financial crisis and dwindling marketing budgets at some financial institutions, the number of retention-related direct-mail offers sent by banks to current customers in Q3 2008 was 42% higher than in Q2.
View chart of estimated mail volume, Q3…
