Spending differently

The global recession, the housing explosion and the rising cost of food, gas and commodities has resulted in a cultural and economic malaise. The New Economy is giving birth to a new financial era that is putting affordability as the current mantra. Consumers of any income are now forced to reexamine their spending habits; are putting an effort to scale back risk and shore up savings. But if they are giving value to thrift and practicality, they don’t want upending their lifestyles, and they regularly pamper themselves with small treats. New measures of “success” are emerging, with status awarded for savvy, foresight and smart behaviors in this challenging time.

Fun facts:

  • Only 20% of new customers lured in by daily deals ever return to make a full-price purchase. (Source: Nielsen)
  • While 150 million Americans are expected to celebrate Halloween in 2013, consumers are expected to spend over $330 million on pet costumes. More people are purchasing Halloween costumes for their dogs, and spending more per costume, increasing 40% in overall spending since 2010. (Source: Retailing Today)
  • 78% of consumers interact with brands on social media for coupons and promotions (Source: Constant contact)