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NEWS
Shoppers Open Wallets
No
ACCORDING TO a new consumer indiscriminate in their trading down.
Espanol at
survey, 25 percent of all shoppers We found that two fi fths of shoppers
are ready to spend for the fi rst will pay more for the brand they
HomeDepot
time in at least six months. The trust, rather than take the risk of a
study coincides with a jump in cheaper brand,” Corlett continued. THE HOME Depot has shut
the Conference Board’s Consumer “This is the fi rst time in nearly four down the Spanish language
Confi dence Index. “Even as we years that we see some good news,
version of its ecommerce site. The
see recovery in some categories albeit just a glimmer; a sign that the
retailer launched the Spanish
of purchases, shoppers will never next iteration of a new shopping
site, accessible from the general
return to spending in the same way cycle is beginning.” So whether
home page, in November.
they did before the economic crisis,” it is a glimmer or a blip, the data
According to a spokesperson,
said Wendy Liebmann, CEO of WSL urged retailers and manufacturers
the company closed the site
Strategic Retail, which released to seize the opportunity to capture
because nearly half of its
a special report, “How America or recapture their shoppers, and
visitors were from outside the
Shops in Crisis 2009.” “While the suggested these strategies:
U.S., and Home Depot doesn’t
current fear is unemployment, we Understand your shoppers and
deliver outside the country.
see signs the frugal life is wearing their preferences.
The Spanish language site gave
thin, with 25 percent of all shoppers Don’t cut back on quality
consumers access to more than
ready for a splurge. At the top of or selection.
their list is a vacation, a night out, Keep them in your brand
40,000 items, which is the same
or a new outfi t.” or store.
number as contained on the
The report also revealed that in Innovate.
English version of HomeDepot.
19 of 32 categories, fewer shoppers Understand the splurge factor.
com. The Home Depot initially
are cutting back. These include Meanwhile, the Consumer
launched a pared down Spanish
food categories such as frozen food, Confi dence Index, which improved
language site in 2003 that
cereal and dessert, and health and considerably in April, posted another
included do it yourself tips and
beauty. One explanation may be large gain in May. It registered 54.9,
ideas, the retailer says.
that shoppers have cut back as up from 40.8 in April (the index
The elimination of Spanish
much as they are willing, or they equaled 100 in 1985). “After two
comes at a time when according
have nothing left to cut. Others months of signifi cant improvements,
to Forrester Research, there
have tried less expensive choices the index is now at its highest level are expected to be more than
and it’s not working for them, in eight months,” said Lynn Franco, 17 million U.S. Hispanic
Liebmann speculated. “We have director of The Conference Board consumers online by 2011.
found shoppers are very inventive, Consumer Research Center. Many of those, according to
as always, on how they cut back. “Looking ahead, consumers
Forrester, prefer to read and
We have identifi ed fi ve patterns to are considerably less pessimistic
make a purchase in Spanish,
cutting back,” said Candace Corlett, than they were earlier this year,
even if they are bilingual. Other
President of WSL Strategic Retail. and expectations are that business
large merchants and consumer
They are: conditions, the labor market and
brand manufacturers that have
1. Use up what you have. incomes will improve in the coming
introduced Spanish language
2. Use less. months,” Franco continued.
websites recently include: Avon
3. Shop the lowest price. “While confi dence is still weak
Products Inc., Best Buy Co.,
4. Buy store brands. by historical standards, as far as
and
1-800-Flowers.com. ■
5. Trade down. consumers are concerned, the
“And shoppers are not worst is now behind us.” ■
84 July 2009
www.MerchandiserGroup.com
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