Americans Rediscovering Their Kitchens
Americans continue to indicate they are planning on spending less on dining out and entertainment-but less so than last month as indicated by Harris. In March about 75% of Americans’s said they are/planning on reducing their spending on dining out at all restaurants (fast food, casual, fine dining) and about the same amount on entertainment (attending movies, theater, concert performances and purchasing DVD, music, ect.) In June, Harris reports consumers are more upbeat…if 66% decrease in planned spending is considered upbeat.
In addition to dining and entertainment cuts, the poll found over the next six months:
-Similar to last month, 64% say it is not likely they will take a vacation away from home lasting longer than a week
-79% do not plan on buying a computer
-81% will not be moving
-88% do not plan on buying or leasing a new vehicle….as Detroit has bear witness to
-92% will not start a new business…at Ootem we love being the minority here!
-53% of the surveyed said they are planning on saving and investing more money in June of ’09 than in June of ‘08
So what is the “So what” factor here?
Brands need to speak to the consumer’s need for safety, reliability and quality. Consumers are open to spending more than in months past, but not on the “what is hot product” of the day, but more on the quality product that will last beyond today and into tomorrow…or even next year.