According to the SymphonyIRI’s Q4 2012 MarketPulse survey, retailers and vendors who sell cookware and health care products may be able to capitalize on recent, gloomy consumer sentiment. As they cut back on certain behaviors to cope with the weak economy, consumers have the potential to invest in others, some to the benefit of the home and housewares sector.
IRI stated that, since the beginning of the economic downturn, consumers have sought ways to save money. For example, 52% are eating out less often than before downturn, while 50% are visiting salons/spas less frequently. In addition, 40% are self-treating when possible to avoid doctor visits, and 35% are using less over-the-counter medications to preserve cash.