Newswise — This season, holiday shoppers will be shifting their purchasing habits. Instead of buying the latest electronic gadgets, consumers will be more likely to purchase gifts from familiar brands. "When a child gets frightened, he instinctively reaches for his security blanket. Consumers do the same in frightening economic times - they look for the familiar and are less prone to take risks," explains Michael Solomon, Ph.D., professor of marketing and director of Saint Joseph's University's Center for Consumer Research.
The uncertainty of the economy gives familiar brands, with an established bond of trust with consumers, an edge over their competitors. "These brands need to drive home this message (we were here for you in good times, we're here for you in bad times)," says Solomon, "especially when they can't credibly compete solely on price." Pillsbury's new campaign, "Home Is Calling," is an example of the kind of recession marketing Solomon describes.
In the 60-second ad spot, several individuals are shown clicking their heels three times like Dorothy in "The Wizard of Oz" ; sending the message they would prefer to be home over their current environment. "Pillsbury plays up the joys of eating at home with loved ones," says Solomon. "Other companies with similar messaging strategies (comfort, established value, etc.) include Denny's, KFC, Bayer and Duracell."
Solomon predicts do-it-yourself (DIY) gifts and sustainable/eco-friendly products should also sell well this season. "Although some consumers believe green products are more expensive, often the very opposite is true (think about the cost savings of eco-friendly fluorescent light bulbs vs. traditional ones), he says. "Sustainable products cost LESS to use, not more."
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