Consumers wrote more checks early in '93
According to Equifax Check Services Division, Telecredit, consumers spent 2.2% more via check during January and February 1993 than during the same period in 1992. This includes consumer spending at more than 100 of the nation' s largest retail chains in various categories including toys, jewelry, apparel, department stores, sporting goods, auto parts, auto repair, and hardware. January's increase was greater than that of February. Contributing factors are the severe weather in much of the country and decreased consumer confidence during February. Florida represented the largest gain with a 20% increase; California and Texas represented a decline of 5.1 %. The results by region are:
- Eight state northeast region was up 1.5%
- Ten state midwestern region was up 2.7%
- Ten state mountain region was down 5.2%
- Five state western region was down 4.9%
- Seventeen state southern region was up 6.6%
If the public could dictate economic policy...
What priorities do Americans want government officials and economists to consider in establishing economic policies? Low prices, a criterion favored by many economists, or some other criteria?
These questions are addressed in a study by an Indiana University marketing professor and NFO Research, Inc., of Greenwich, Conn. This study, conducted in November 1992, asked 5,000 representative households throughout the country to assign priorities on what the government should consider in setting economic policies. Those participating in the survey were asked to assign a number from "5" (highest priority) to "1" (lowest) for each of several factors such as "job security for Americans" and "ability to compete internationally."
Number one priority: job security, with a "highest priority" (a rating of 5) score of 61%. Pride in country is second with a score of 52%. Next: lowest price for consumers (51%), self-sufficiency for military needs (49%), self-sufficiency for all essential goods (46%), ability to compete internationally (38%), preservation of U.S. technology (37%), and high wages/salaries for Americans (27%).
Priorities for most factors are the highest among those in the oldest age groups. For example, the priorities assigned to pride in country rises from 42% among those under 35 to 62% among those 55 and over. The priorities assigned to job security rise from 57% among those under 35 to 62% among those 55 and over.
An exception to the age trends is lowest prices, more likely to be assigned the highest priority by those in the younger than those in the older age groups (54% to 49%).
Priorities tend to drop with annual household income. Thus, 65% of those in the under $15,000 income group assign the highest priority to job security compared to 56% among those whose income is at least $50,000. A major exception to this income trend is international competitiveness: 31% of the lowest income group assign this factor the highest priority compared to 44% in the highest income group.
Study profiles tennis players
Males account for nearly six out of every ten (59%) tennis players aged 12 and over, but a slightly greater percentage of female players say tennis is their favorite sport: 25% for females, 22% for males.
These were among the facts that emerged from a national study of recreational tennis players sponsored by the Tennis Industry Association (TIA). Following are some of the characteristics of tennis players the study uncovered. (Note: Data from compatible studies conducted in 1988 and 1989 by TIA is also included. "Players" refers to those who played at least four times in 1992; "heavy players" played 21 or more times.)
The study found that 22.6 million Americans 12 and over (11% of the total) played tennis at least once in 1992 and that 13.7 million (7%) played four or more times.
The average 1992 household income of players aged 18 or over was $55,400, up from $52,000 in 1989. Household income for heavy players in 1992 was $60,800, up from $55,100 in 1989.
Nearly three of four (71%) players over the age of 35 hold a college or higher degree.
For most players, tennis is not expensive. Most (68%) play most frequently on public courts; 60% play for free.
The recession has not reduced memberships in private clubs or centers but it seems to have sharply impacted how much is spent to play there. The percentage of players who were members was 17% in both 1989 and 1992, but the average amount spent dropped from $643 in 1989 to $381 in 1992. About 30% of heavy players belong and their average expenditure fell from $691 to $426.
The average age of players is 31.6 years, up from 30.1 in 1989. The percentage of players 50 years or more has grown to 13% from 7% in 1988.
41% of players have been active in the sport for more than 10 years.
Only one in four played in a competitive match in 1992, while 13% took a paid lesson and 16% hit against a ball machine. For heavy players, the figures were 44%, 20% and 23%.
Four in ten players (39%) purchased a new racquet within the past three years, spending an average of $94. Only 22% had their racquet restrung in the past year (37% for heavy players).
Asked in an open-ended question what they like most about tennis, 40% mentioned exercise, 28% mentioned competition against oneself or others and 21% said it was "just fun."
Six in ten (62%) said they would like to have played more tennis last year and 40% players plan to play more in 1993. Lack of time is the most frequently cited (79%) impediment to play, followed by a preference for other activities (61%) and difficulty in finding suitable partners (56%).
This is the third national study of recreational tennis participation conducted by Audits & Surveys for the Tennis Industry Association. An initial sample of 4,000 households was interviewed to obtain data on the incidence of tennis playing in the population as a whole. Then, 1,000 tennis-playing households were interviewed to discover attitudes and activities of those who played four or more times in 1992. The surveys were conducted during September and October.
Americans say companies should stay in touch with customers
Most Americans think it's important for companies to stay in touch with their customers, according to a new national survey released by Maritz Marketing Research Inc. Staying in touch could pay big dividends. Seventy percent of respondents in the telephone study rated maintaining contact with customers high in importance (ratings of 8, 9 or 10 on a scale of 1-10). However, most customers never actually receive any communication.
Industries included in the survey were automotive, financial, insurance, long-distance providers, and utilities. In addition to asking how important is it for companies to stay in touch, respondents were asked if they had been contacted in the past year to announce new products, check on satisfaction, or seek input about future products. They were also asked if they expect companies to approach them about these subjects.
Across all industries, the level of people expecting contact is always greater than the level of those actually receiving contact. There were also significant variations by industry. For example, 72% of automotive customers expect to be approached about satisfaction; but only 29% are contacted. As a contrast, regarding new products 67% of long distance customers expect to be contacted and 65% are notified. Long distance providers led all industries in actual contact with customers, including communications about satisfaction (36%) and future products (31%).
In general, the percentage of customers who expect announcements about new products (57-67%) is about equal to those who expect contact about satisfaction (62-72%). In reality, companies are more likely to contact customers about new products (32-65%) than about satisfaction (12-36%).
"Companies probably view contacting customers about new products as a direct sales activity, so it may be given more importance," says Maritz' Rick Cottrell, who directed the study. "However, many American firms are also discovering that assuring customer satisfaction is a proven strategy for increasing revenues.
"The survey shows it's important for companies to stay in touch with customers and that many customers expect contact," says Cottrell. "The results of two additional questions suggest a competitive advantage can be gained by maintaining contact with customers."
In the automotive portion of the survey, respondents were asked if they would choose a company known for staying in touch with customers or choose another firm. Eighty-seven percent would choose a company that stays in touch. Additionally, 68% would go out of their way to find a dealership who sells that company's product. "This indicates that ongoing contact is likely to build customer loyalty," Cottrell says.