the media mandala

Although there has been much speculation on whether or not the country’s economy is in a recession or just in flux, consumers are going to discover smarter ways in buying when they need to make a purchase.  The slowing market will force consumers to become more educated about their options before they pull the trigger.  In order to do so, consumers will continue to become more discerning and research the best prices and reviews on products before they spend.  They will flock to web sites where that information lies.  Social networks where community recommendations on the best and worst products as well as customer service will continue to thrive in a market where buyers are more cautious to buy on impulse.  This increase in behavior shopping will also drive competition for bargains between big box stores and online sites.  People hesitant with trust or even knowledge in the online marketplace will find themselves exploring search engines and online stores before they plunk down change at the nearest store.  It might mean that they merely visit the url’s of brand stores they already associate with in their behavior but they will certainly do price comparison.  We will probably see a growth in older coupon behavioral shoppers that don’t want to wait until the Sunday paper.  While traditional ad spending may take a hit this year, it should be interesting to see how the online market does as consumers become more savvy with their money that should give a boost to online marketing power.  Increased consumer online buying, when rewarded with savings, will further solidify into their future buying behavior.