Monday, April 13, 2009

How to Increase Consumer Spending in Troubling Times

This article in the NY Times highlights that as shoppers are becoming more and more reluctant to open their wallets, retailers are starting to adjust their advertising and marketing to play up the aspects of value of what they sell.

Companies like Whole Foods, and J.C. Penny have even changed their campaign approaches to emphasize more saving and better pricing on their products. For example, Home Depot recently changed their slogan from “You can do it. We can help” to “More saving. More doing.” As these campaigns roll out over the next couple of months it will be interesting to see the effect it will have on consumer spending.

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