NOVEMBER 21, 2011 - Best Buy recently conducted market research to determine what would be the most effective way to appeal to shoppers during the holiday season, discovering that consumers are unclenching the death grips on their wallets - but still want deals.
"I'm optimistic things are a bit stronger than they were [in the first half]," Best Buy's chief marketing officer, Barry Judge, told Advertising Age. The company's senior vice president of U.S. marketing, Drew Panayiotou, added to the positive forecast.
"All signs point to a consumer coming back in the market … We're all still nervous, but the first two weeks of data say she's there and buying more gifts," Panyiotou said.
The retailers' research indicated that mothers want to feel like they are victorious in their own shopping, and are in a friendly competition with Santa Claus.
Almost all brands and retail companies are stepping up their advertising efforts for the holiday shopping season, which is set to reach a fever pitch on Black Friday. The latest Consumer Reports Holiday Shopping Poll suggests many Americans will take as much, if not more, time browsing for items in November and December, although most will not spend the same amount they did last year.