* Crain’s…
Spring is the new Christmas for marketers preparing to unleash media spending in anticipation of an explosive sales uptick as the weather warms and consumers rush to resume their everyday lives. From retailers to airlines and hospitality, special-occasion brands and media vendors, the marketing industry is looking to spring, typically a time of rebirth and renewal, to reconnect with customers eager to get out and spend as COVID-19 vaccines roll out and the threat of the coronavirus diminishes.
Consumer sentiment is switching from “hesitation to hope,” as Marriott International’s Brian Povinelli, senior VP, brand loyalty and portfolio marketing puts it. That’s fueling an anticipated spending surge from consumers releasing their pent-up shopping demand—which marketers are looking to help along. […]
The National Retail Federation is forecasting the highest growth in retail spending in 17 years—a jump between 6.5% and 8.2% to as much as $4.4 trillion this year. Much of the growth may come from high-income households. In a recent survey conducted late last month by Ad Age-Harris Poll, 30% of households making $100,000 or more a year said they’ll spend more this spring compared to last; the majority of this group said the vaccine rollout has influenced this decision.
And shopping will extend beyond ecommerce to brick-and-mortar stores as well as consumers get comfortable again with in-person experiences. Some 62% of consumers say they plan to shop in stores this spring at least once a week, the Ad Age-Harris Poll found.
* The Question: How will your life change when you are fully vaccinated?
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Your Illinois News Radar » Question of the day - The Capitol Fax Blog
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