Marketing Forecast from Ad-ology

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.

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.

After experiencing a year of significant shocks to their systems, credit card operators are poised to once again increase spending. In 2009, the industry has been plagued by bad press surrounding high interest rates which coincided with a time of overwhelming personal indebtedness and rising unemployment across the country. But credit card companies ranging from American Express to Chase have increased their mailing significantly in the past month, according to Mintel CompereMedia.

Local insurance agents often carry lines from several major insurance companies. As they sell to and then service clients with claims, these local agents generally say they are satisfied with the carriers’ response to policy pricing and claims handling. But according to a Deloitte and National Underwriter magazine survey, local insurance agents say there’s one big area where they feel ignored. Only 10% of these businesses say they are consulted often when it comes to marketing and branding.