Wednesday, April 29, 2009

Feel Good Spending Will Boost Drive-Ins

In a post that I wrote two weeks ago called A Snickers for Your Troubles, I talked about how the success of candy manufacturers during economic downturns can be attributed to people's willingness to purchase things that make them feel good.

The entertainment sector is also poised to benefit from this "feel good spending", which I've heard being called the Tootsie Pop Bump. Consumers are planning to spend either the same amount or more compared to last year on music, video games, and trips to the movie theater.

Seventy-three percent of consumers surveyed said that they are planning to spend the same as last year or more on movie tickets. This number is up from 66% in the previous year.

This is great news for the Drive-In movie theaters of the Hudson Valley. The growth of this market coupled with the beautiful weather makes for a blockbuster opportunity for drive-ins, who can also benefit from the boost in candy sales from the Tootsie Pop Bump.

We are so lucky to still have drive-ins here in the Hudson Valley. Many of our neighboring communities witnessed their local drive-ins close years ago. So, I hope they have a GREAT year, and many more to come. And if you're looking for something fun to do with the kids this summer, take them to a drive-in ... they are good, old-fashioned fun!

June Bisel
BBG&G Advertising and Public Relations
BusinessCardContacts.com
845-695-1880
smartstrategies@bbggadv.com

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posted by June Bisel at 2:17 PM 0 Comments

Thursday, April 23, 2009

Who's Still Spending?

No consumer is immune to the effects of this "economic event" that we are trudging through. I've mentioned in my blog earlier that consumers are actively cutting back on impulse buys, expensive food purchases, and vacations.

But not all consumers are impacted in the same way. I have come across some research indicating that while the behavior of the Baby Boomer generation and Generation X(ages 25-34) is actively changing in response to this economy, the behavior of other age segments is being impacted less by the trials and tribulations of the economy.

Higher income seniors and Generation Y (consumers ages 18-24) aren't making large changes to their buying behavior. Generation Y consumers have the least financial obligations of all of the groups and the higher income seniors generally have more of a savings cushion than any other group, which could lead these groups to feel more comfortable living their normal lifestyle.

Individually, these two consumer groups represent a small segment of total consumer spending power -- seniors at 14% and Generation Y at a mere 5%. However, if these age groups are your business's main revenue stream, then it is very important for you to know that although everybody is cutting back to some extent, the purchasing behaviors of these two groups are impacted the least by the down economy.

June Bisel
Partner, BBG&G Advertising and Public Relations
BusinessCardContacts.com
SmartStrategies@bbggadv.com

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posted by June Bisel at 10:28 AM 0 Comments

Wednesday, April 1, 2009

Realtors, Homebuyers Are Still Out There

Most people agree that the housing market was a major catalyst that sparked the recent economic downturn. However, there is good news for realtors. 

According to a new study conducted by The Move research group, a total of 23% of Americans are still planning on buying a home within the next five years -- 12.8 percent of those within the next two years. Of those people, more than half are first time homebuyers. 

Americans have been cutting back and postponing many major purchases for some time now, and those postponing home purchases will soon have a good incentive to take the plunge in '09. The recent stimulus package offers an $8,000 tax credit for homebuyers. That is going to be very tempting to homebuyers. 

While many are still unaware that the credit even exists, realtors can benefit greatly from advertising the incentive and helping homebuyers sort through the details. 

Potential home buyers are out there! Realtors, it is up to you to be proactive in encouraging them to choose you over your competition and to convince those that are still on the fence that this is the perfect time to invest in a home. 

June Bisel
Partner, BBG&G Advertising and Public Relations
BusinessCardContacts.com

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posted by June Bisel at 12:59 PM 0 Comments