IRI: Cooking At Home, Dodging Salons Help Consumers Cope
Friday January 25th, 2013 - 11:57AM
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According to the SymphonyIRI’s Q4 2012 MarketPulse survey, retailers and vendors who sell cookware and health care products may be able to capitalize on recent, gloomy consumer sentiment. As they cut back on certain behaviors to cope with the weak economy, consumers have the potential to invest in others, some to the benefit of the home and housewares sector.
IRI stated that, since the beginning of the economic downturn, consumers have sought ways to save money. For example, 52% are eating out less often than before downturn, while 50% are visiting salons/spas less frequently. In addition, 40% are self-treating when possible to avoid doctor visits, and 35% are using less over-the-counter medications to preserve cash.
Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail
Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.