Marketing Forecast from Ad-ology

Screen size and a better picture are the two most important things for prospective TV buyers, according to the new study, “2009 TV Inventory Study,” conducted by The NPD Group. One-in-four consumers say they’ll most likely be making a new TV purchase in the next six months. Screen size continues to be a strong driver for consumers, which is good news in this price- conscious environment. With average prices falling dramatically over the past year, consumers can now get more for even less without having to sacrifice the features they want.

Consumers have no shortage of options when it comes to entertainment. Will the popularity of newer forms of communication such as social networking reduce the amount of time consumers have for traditional entertainment? This is a valid concern according to NPD group which just released a report on this topic.

Traditional media influenced more than 30% of recently surveyed pizza consumers, while online media like restaurant Web sites were the most influential for restaurant-goers. The Ad-ology Research study also found 61 percent of U.S. consumers surveyed said they had visited “a restaurant they had not visited before” in the last year. Online media influenced 40% of recent restaurant visitors, with restaurant Web sites having the most influence. Traditional media proved more effective than social media for these consumers. Twenty-seven percent were influenced by newspaper, and 25.4% said the same for direct mail.

No one can blame retailers for nervously promoting great deals early in this holiday season. Nearly every large research firm has predicted that consumers will keep a close watch on their spending. Consumer spending may not be as restrained as last year, though. The 24th Annual Holiday Survey by Deloitte indicates that just over half of consumers will spend as much or more than last year.

The Second Annual Benchmark Survey on Consumer Coupon Behavior, conducted by HarrisInteractive for RetailMeNot, found that consumers are increasingly defining their spending habits by whether or not retailers offer coupons. According to the new survey, 30% of online adults will not make a purchase at an online store if they can’t find a coupon for that store, up from 27% in 2008. The survey also revealed that coupon use in the current economic environment is on the rise across nearly all demographics, but is highest among the employed and educated (college graduated).

According to a recent study by Communispace, the recession has added considerable stress to this already overburdened population known as “the sandwich generation,” baby boomers who support kids, parents, relatives and themselves at the same time. Over 20 million Americans belong to this unique consumer segment. Feeling stretched, overwhelmed, and under-supported this segment of consumers has particular needs and hopes that marketers must understand. For example, 77% would adapt the things they’d purchase to accommodate parents; for example, when buying a new car they’d consider buying one with a larger trunk (to hold a parent’s wheel chair or walker), rather than one that is comfortable or gets good gas mileage. A “considerable number” of people are looking for more culturally and linguistically appropriate services for their elderly parents (many of whom don’t speak English).