Few could have predicted that the sub-prime scandals in the US would ultimately put the world on an economic precipice and in many cases only minutes from bust. Who would have thought that giant global money making monoliths like Lehman`s or Merrill Lynch would be so vulnerable or that high street banks would come close to not having any money in cash machines. For a time it was if the whole world was close to meltdown. Only huge government cash injections and the nationalising of some of the banks managed to avoid a total collapse of the world`s banking systems One thing is certain however and that is that measures to avoid something like this ever happening again are now in place and that many of the `toxic` practices that were so prevalent prior to the collapse have now been outlawed.
But how has all this affected us mere mortals? Interestingly, there has been some good news in all this. People made redundant have been forced to look at alternative opportunities that in many cases have paid off. Some have forged successful new careers or started up their own businesses. All of us have looked hard at our general expenses, reduced the burden of credit and generally tightened our belts. No bad thing then really. Recession is likely to continue into 2010 and beyond with many analysts predicting at least two more years. So what of the coming years ahead and more specifically 2010? Looking for real traction on their spend, most advertisers will be resorting to using guerrilla marketing tactics to generate sales momentum. These tactics will include better value for money and perceived savings such as free offers or added value as their main focus. Email has always been seen as one of the most powerful anchors to generating sales and this is set to be even more prevalent, however mobile technology will really begin to integrate into our daily lives and the spectre of a text from a retailer you are currently visiting with a special offer `just for you` is a very real prospect. It puts the notion of the targeted impulse purchase front and centre in the very near future. Consumers are looking to social networking however to obtain the very best information on pricing and value which means that retailers have to look at pricing very seriously. Consumers are also on the lookout for ways to not only save money but perhaps generate money too and there are innovative way to enable this to become a reality. Using social networking and viral marketing to earn money through recommending products on site such as money making is becoming big business now and any where consumers can earn extra money in these cash strapped times must be a good thing. |
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