Many think of the new year as a time to start fresh and put the past behind you. This way of thinking may work in some circumstances, but in real life issues that is not always the case. Why you ask? Right when Americans think that the economy has hit rock bottom, it seems as if trends are going to dip down even further into quarter one of 2010. Homes are still expected to foreclose, banks are still going to hesitant about lending, and bailouts have still not personally touched consumers. With America still being on the downtrend, it is not a surprising that many consumers are still saving and spending less (either by choice or necessity).
It seems as if consumers are no longer embarassed, or think they are too good for using coupons, considering the redemption rate of manufacturer coupons were up 26% in the first three quarters of 2009. That is one of the many methods that consumers are utilizing to save a little money, along with not buying as many non-food items, going out for meals, and buying store brand products. Also, consumers have made changes like eating more chicken than beef because it tends to be less expensive.
With all consumer price cutting and shoppers being more aware of their purchases, are there any companies on the rise? Of course there are! As stated above, store brands are bringing in more revenue and are making sure that their shelves are stocked with their items. In some cases a store band product may be several dollars less expensive. Other types of companies that are doing well right now are the super stores (Costco, Sam’s Club, BJ’s, ect), dollar stores, and some online retailers.
Even though there are a lot of companies still in a down turn, it is nice to see that other companies and brands that may not be as popular, are now having THEIR time to shine.