The U.S. Department of Commerce reported that retail sales dropped 0.4 percent in April, compared with the previous month. The decline was a little more than expected, but less than the revised March drop of 1.3 percent. The recent two months of decline followed unexpected increases in consumer spending in January and February. What does this mean for companies here in Charlotte? And what does this mean Charlotte ad agencies.
Retail Forward, a Columbus, Ohio-based consultancy, posited that there's been a change in the way shoppers shop, women in particular, at least for now. According to a recent survey by the company, eight of 10 women have changed the way they shop for clothing, accessories and shoes. Respondents said they are both cutting the amount they buy, and "trading down" in terms of brands.
On the other hand, two-thirds of those women surveyed -- it was a group of women in about 4,000 households nationally -- expected that retail penny-pinching strategies not to be permanent. However, the length and depth of the recession, which is still an open question, could conceivably move more shoppers into a more permanent budget mentality. This year's response to job-loss nervousness and cut credit lines could echo down the years.
So if your company's sales are down and you're looking for way to reverse this trend and boost retail sales, now is a good time to reexamine the relevance of your brand and marketing strategy given the prevailing consumer sentiments of value, frugality, and restraint.
To learn more about the online and offline branding, marketing, and advertising services our agency offers, please visit the birdsong gregory website, contact Jim Cusson at 704-332-2299, or stop by the next time you’re in downtown Charlotte, North Carolina.
Retail Forward, a Columbus, Ohio-based consultancy, posited that there's been a change in the way shoppers shop, women in particular, at least for now. According to a recent survey by the company, eight of 10 women have changed the way they shop for clothing, accessories and shoes. Respondents said they are both cutting the amount they buy, and "trading down" in terms of brands.
On the other hand, two-thirds of those women surveyed -- it was a group of women in about 4,000 households nationally -- expected that retail penny-pinching strategies not to be permanent. However, the length and depth of the recession, which is still an open question, could conceivably move more shoppers into a more permanent budget mentality. This year's response to job-loss nervousness and cut credit lines could echo down the years.
So if your company's sales are down and you're looking for way to reverse this trend and boost retail sales, now is a good time to reexamine the relevance of your brand and marketing strategy given the prevailing consumer sentiments of value, frugality, and restraint.
To learn more about the online and offline branding, marketing, and advertising services our agency offers, please visit the birdsong gregory website, contact Jim Cusson at 704-332-2299, or stop by the next time you’re in downtown Charlotte, North Carolina.
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