How to market to a “Recessionista”
Welcome the CBD Retail Blog by Erin Creaney, resident Retail Expert. I’ll be following and blogging about the impact of our ever-changing economy on the retail sector. Check back weekly for the latest industry trends and tips on ways to market to the new consumer!
We’ve seen the headlines, heard the news (and of course timidly checked our 401K’s). We know what is happening out there. Now more than ever it is time for marketers to make lemonade out of economic lemons.
As spending tightens a little more each day and consumers are increasingly aware of their financial surroundings, marketing strategy partnered with strong brand promises and positioning is paramount.
Lately, marketers have been using the tried and true “if there is a sale, customers will buy” mentality to override this slowdown in traffic. The good news is for those who are buying, customers are likely to experience your brand—maybe for the first time—and are scoring great deals on products they really want. The bad news is, as a country, we are increasingly re-evaluating what we really need.
But wait. What if we look outside the box and bring the power back to the customer? Consider the term “recessionista”—used to create a more positive positioning for holiday marketing. In a word, genius.
Brands are taking matters into their own hands and speaking to the consumer mindset. And so far, being a “recessionista” is a good thing. It personifies the smart/cost/quality conscious consumer who strives to not only get what she needs, but what she wants too.
Exclusive brands such as Bourjois (a French cosmetics line) have recently released a line called the “Recessonista Collection.” I think this type of marketing is exactly what consumers need to get the power of spending back on their side. After all, if history has taught us anything it is that brands that are nimble, and those who identify with the consumers’ way of thinking often come out on top.
What other out of the box marketing ideas have you tried? What brand promises could help position your products to the newly anointed “recessionistas”?
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