The Newspaper Advertising Bureau's 'The Kiwi Consumer' retail report for November 2009 shows how much consumer behaviour has changed since 2001 and how it has impacted on the retail and advertising sectors. And it makes for some rather interesting reading.
Of course, ad spends suffered during the recession, but the report shows signs are auspicious, with core retail ad revenue moving into positive growth territory in last two quarters of 2009.
In a nutshell, the report, which was cobbled together from a range of different sources and surveys, concluded:
- Physical store visits are decreasing but sales remain strong, which indicates more research being done online prior to purchase.
- Kiwi consumers care less about keeping up with the latest fashion than they did eight years ago.
- Kiwi consumers are more thrifty and there is pressure on more quality.
- Online is creating informed consumers that are quick to price check and compare.
- Store credit cards are becoming less popular.
- Newspapers are both a useful source for consumer consideration across multiple retail categories and drive them to purchase.
Wrap your laughing gear around the whole Retail report.