Consumers Will (Continue) to Seek Value in 2010

U.S. consumers will continue to show restraint and look for value pricing during 2010. These are two of the five key predictions research firm The Nielsen Company has released for next year.

Restraint Remains the New Normal

U.S. consumers have unemployment and other economic concerns at the top of their mind, suggesting that trends in restrained spending will continue into 2010. Some private consumer spending indices, such as the Deloitte Consumer Spending Index and American Express Spending and Saving Tracker demonstrate a significant uptick in consumer spending. However, official government indices, such as the Personal Income and Outlays Report and Advance Monthly Retail Trade Survey show much more moderate increases in consumer spending.

Value is a Top Priority

Coinciding with consumers’ focus on restraint is a focus on value. A desire for low pricing could threaten margins, and widespread discounting across the retail industry will require retailers and brands to differentiate themselves beyond price.

ADA&A’s Advice

ADG&A continues to advise its clients to focus on building value for their patients/customers by creating and communicating service features that exceed industry standard practices.  Additionally, package pricing, ‘good, better, best’ pricing, private lable frame collections and improving the quality of sales presentations are demonstrated ways of improving sales and profitability.

Source: The Nielsen Company

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About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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December 2009

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