The Holiday That Keeps On Giving

Per Adweek, some holiday forecasts hold out some hope. One word can summarize what products need to portray to consumers: Relevance.

Shoppers want to buy gifts that will get used and not get stuck in the back of a closet. Or get's "re-gifted" next year. That's always been their goal, but it's even more important in this economy.

No one wants to appear wasteful, so shoppers will use lists more and will probably start shopping sooner.

The companies that will win this holiday season, now more than ever, are the ones who integrate their media choices and solve problems. As consumers go back to basics, so must marketers. The experience from your product has to fit a need. We all know consumers don't buy a drill because they need a drill. They need holes.

I just hope my holiday gift giving doesn't any "gifts that keep on giving" - my family's term for re-gifting.

The Enduring Recession?

Per Adweek, consumer shopping habits in response to the recession will continue after the recovery.

The article mentions some research/testing, but it would be interesting to see more. The gas price example for the car business is based on advertising promoting mileage. The manufacturers have stepped up production, but the sales ratio to less efficient vehicles is not what you'd expect.

The recession has caused people to rethink their habits, but it will be interesting to see how "sticky" they are when consumer confidence is much higher. Consumers may feel like they're sacrificing now, but like changing a diet, it's not always effective long-term.

Buying habits will probably never be the same because companies have to "reinvent" themselves a bit in a recession. To go backwards might alienate new customers.

The key may be refining and defining your brand for your core and new customers. As the economy improves, you may want to test some older strategies that don't deviate too far from your updated positioning.