SymphonyIRI Group Point of View

9/24/2008
Tough Times Create a Revival of the Dining Room

As a result of economic pressures, recent IRI research has found that many consumers are having difficulty affording their groceries.

Gasoline more than $4 per gallon and rapidly rising food prices have created severe, negative ripple effects throughout the U.S. economy, but they have also created positive results, some obvious, some more nuanced. A renewed drive for alternate energy sources, an increased
emphasis on conservation and recycling, and greater interest in addressing global warming are among the most obvious, new behaviors. A more subtle result is a revival of the family dinner, complete with home-cooked meals featuring fresh ingredients and increased spending on “home luxuries,” such as wine to accompany dinner. More than 60 percent of consumers reported they are visiting restaurants less often than they did as recently as January.
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9/24/2008
Marketplaces vs. Marketspaces

Rising petroleum costs are generating tectonic changes in how Americans live, work and shop.

Manufacturers and retailers must rethink strategies for developing and marketing product. They need to evolve away from creating products sold in a marketplace, and replace that strategy with one that focuses on inventing experiences that create new marketspaces. Marketspaces will include products specifically designed to motivate a highlytargeted group of consumers and marketed in an environment created to meet the consumer’s comprehensive need. Inculcating consumers with an unbreakable level of loyalty to their preferred products and retailers is the final objective of creating these new marketspaces.
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