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November 2008
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Predicted Trends for 2009 Include Sewing Businesses

Mintel, a world renowned supplier of consumer, product and media intelligence, has just released its predicted trends for consumers and businesses in 2009. The company has listed five key ways that consumers will adapt to the current economic uncertainty during the next year. 

A key theme in the list is a return to basics since financial instability tends to make people feel insecure. The report stresses that people will cut back on their spending and become more selective about where they decide to take their business. As budgets tighten, consumers will spend more time at home and will focus more on “traditional” activities such as sewing, cooking and gardening.

Businesses need to be aware of these trends in order to stay competitive. With today’s fast-paced lives, consumers will demand convenience and simplicity, and they will look for businesses that they can trust. Focus on providing value for your customers and communicate with them openly and you will earn this trust.

The Internet will be key during this time of “cocooning” families, so it is important that businesses take advantage of this channel as well. The Internet allows customers to demand more while also giving them the means to influence others through feedback and user reviews. Consider providing ways for your customers to communicate with one another through your website by requesting product reviews and feedback, or through a forum or blog. These measures will serve to increase both customer trust and loyalty and will keep your customers coming back through good times and bad.

Read the entire report called “Five Key Changes to Consumer Behavior and How Businesses Can Thrive”, or visit the company’s website at www.mintel.com for additional information.

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