After the Great Recession, many consumers became conservative with their spending and budgeting. As the economic climate remains uncertain, many adults continue to face financial challenges.
The Savings and Spending Report from CouponCabin found 45 percent of U.S. adults feel less financially secure than they did one year ago, and 16 percent said they always worry about money. Even consumers with higher incomes are feeling the strain, as 39 percent of respondents with an annual income of more than $75,000 said they fell less secure compared to 2010.
In addition, 83 percent of Americans said they are living within their means, but felt certain industries are overpricing their items. The report showed 80 percent of respondents felt fuel was too expensive, 59 percent said food was overpriced and 58 percent felt they are charged too much for utilities.
Understanding consumer sentiment is a key step in identifying and communicating with a company's target audience.
A targeted campaign can prove to be a cost-effective way to increase revenue. Because the messages will reach the contacts who are most likely to respond, fewer resources will be wasted on uninterested consumers.
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