Resource Interactive Issues Call to Brands at Shop.org Annual Summit: Look to Innovation for Recession Relief

Wed Sep 23, 2009 5:09pm EDT
 
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LAS VEGAS--(Business Wire)--
Renowned for its in-depth consumer research, digital agency Resource Interactive
presented "Recession Rewired: Leaner Times Hit Home for Moms and Younger
Millennials" to an audience of more than 2000digital and multichannel retail
executives at the 2009 Shop.org Annual Summit. Kelly Mooney, Resource
Interactive President and Chief Experience Officer, presented the agency`s
latest research exploring the recession`s impact on two of the economy's prime
players. 

Resource Interactive began pinpointing the preferences and predispositions of
both women and millennials in 2004 and 2006, respectively. "By exploring the two
collectively, we gained a clear understanding of not only how their shopping
attitudes and behaviors have effectively been `rewired` in the new economy, but
also the importance of the co-shopping journey," Mooney said. 

"The economy has prompted most consumers to rethink their spending, but this
reaches further than the recession. We are seeing a cultural shift toward value
and practicality. However, it isn`t a doom and gloom scenario for
retailers-there`s real opportunity in the new consumer mindset," Mooney
continued. "What the recession requires is a reevaluation of marketing truisms
about consumer behavior. Knowing your consumer has never been more important.
Retailers need to be ready to test new ideas in order to innovate their way out
of the recession." 

Mooney`s keynote acquainted the Summit audience with the new needs and
expectations of moms and millennials rewired by the economy, deconstructed their
co-shopping journey and unveiled prototypes offering retailers ideas and
inspiration to reach these crucial consumer segments. The keynote was fueled by
Resource Interactive`s qualitative and quantitative research, conducted in
partnership with Shop.org, Sterling Commerce, BIGResearch, Harris Interactive,
and ExpoTV. 

Key findings and presentation highlights:

* The recession is forcing the second-wave millennial generation to grow up
faster, displacing self-centered worries, while moms view the recession as an
opportunity to reset family values, become more resourceful and better prepare
for the future. 
* Moms are trading way down, but teens have proven to be more brand loyal and
less likely to compromise on their favorite brands. Their shared coping
mechanism: shop sales and buy less. Teens look to mom as the guru of bargain
shopping for help locating favorite brands at a discount. 
* Moms are cutting back whether they need to or not. Regardless of whether the
respondents experienced loss of income or net worth, the mere threat caused them
to reevaluate household spending. Moms are moving from conspicuous consumption
to conspicuous curtailing, displaying an overall sentiment that society has been
wasteful in the past.

Mooney is co-author of The OPEN Brand: When Push Comes to Pull in a Web-Made
World, which dissects the social web revolution-from the rise of personal brands
to the online consumer`s inclination to create, share and influence. 

The premier gathering of internet and multichannel leaders, the Shop.org Annual
Summit is designed as an interactive forum for Shop.org members and guests to
gather for networking, strategizing, fact-finding and education in a
non-commercial atmosphere. The Summit runs until September 23 at the Mandalay
Bay Resort and Casino in Las Vegas. 

About Resource Interactive

Resource Interactive is one of the nation`s preeminent digital marketing
agencies, helping Fortune 500 companies thrive in the evolving internet economy
with award-winning digital strategy, creative and technology solutions. Known
for its revolutionizing consumer insights, leading edge interactive design and
technological innovation, Resource Interactive is ranked among the top ten
independent interactive agencies in the nation. 

Unique in the industry as female-founded, owned and operated, Resource
Interactive has grown over its 28-year history from its first marketing
relationship with Apple to ongoing partnerships with clients such as Procter &
Gamble, Hewlett-Packard, The Coca-Cola Company, Victoria`s Secret,
Sherwin-Williams and L.L. Bean, among others. For more information, visit
www.resource.com. 



Resource Interactive
Holly N. Davis, 614-410-2279
hdavis@resource.com



Copyright Business Wire 2009

 

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