Marketing Forecast from Ad-ology

As part of a general trend in new fiscal conservatism, consumers are paying more attention to smaller community banks and engaging with independent advisors to obtain guidance. This trend has come about as consumers seek more control over their financial destiny and hesitate to work with banks or other financial companies that have been deemed ‘too big to fail.’ The most recent Charles Schwab’s Independent Advisor Outlook Study offers a portrait of consumer sentiment and upcoming investment advisor strategies.

As the lessons learned from the near-collapse of the financial system continue to spread, consumers are feeling the repercussions from the credit card industry. Between June of 2009 and February of 2010, the number of consumers who do not have a credit card grew 52.6%. Currently, nearly 1 in 3 consumers do not have credit cards.

As the economy recovers, traditional lenders are showing the kind of caution for which they’ve long been known when it comes to making loans. This renewed fiscal conservatism shows that they might have learned a difficult lesson during the recession but their hesitation to lend is curbing small business growth. This situation has resulted in a business boom for asset-based lenders.

Ad-ology Research recently updated their Industry Marketing Insights report for Auto Insurance Companies.

Until recently, the personal savings rate for most U.S. consumers was dismal. This was especially true for younger consumers who may have been struggling with paying off student loan debt and trying to establish their own households. All that seems to have changed during the recession. Research to be published in The Journal of Consumer Affairs indicates that even younger consumers have realized the importance of a personal safety net.

Nearly one in 5 U.S consumers aged 18 to 24 cited online video as an influence on their choice of banks. More Consumer Spending logothan one-third was influenced by social media such as positive and negative product reviews, blogs, and social networks according to a recent Ad-ology Research study.