All year the media has been littered with warnings of an economic slow down. We’ve been plagued with advice on how to cut corners and save money. We’ve heard it all from bring a packed lunch to work, to forgetting our expensive gyms and use the stairs instead. With constant reminders to stop splurging and start penny pinching, have any of us actually taken note and managed to change our Celtic Tiger habits?
Frank O Grady managing director of Screenclick.com Ireland’s leading online DVD rental service believes these reports are beginning to hit home. He thinks we are still spending but spending smarter. “A lot of Irish Consumers have taken Rip-Off Ireland as a personal insult and as a result are no longer willing to pay above the odds for anything.” Frank reckons we all want more for our Euro and the favourable exchange rate highlights this, the Irish will either travel or buy on-line to benefit form this change of fortune. “When it was reported last month that Irish people pay on average €100 a year on late fees, our membership saw a significant rise. Why should we be accept paying €5- €6 for one night DVD rental when you can get it delivered to your door for less then half that and no late fees?”
It’s not just consumers who are getting smarter due to the economic slow down. Companies now have to work harder and smarter in gaining and retaining customers. This change of tactics is very prevalent in the property market, where marketing buzz words exclusive and luxury have been replace with value and reduced. “This is a perfect representation of what the Irish consumer is looking for and not just in the property market. Companies are forced to think outside the box and add value to their products/service. We have always used this approach; we offer members free tickets to movie pre- views, movie news and competitions and now we are seeing more companies adapting to this thinking and are offering more to the consumer.”
Sounds like good news for us customers is on its way and it’s about time too. So perhaps we’ll have that ski holiday at the end of the year after all – we’ll just make sure we’re getting the best deal available and we’ll buy it on a credit card with a lower rate of interest.
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