Hot weather may bring friends and festivities together, but learn how to keep yourself from blowing budgets with the Smart Summer Spending infographic. Coupon and deals-based company Valpak conducted a survey of its consumers to see where they were spending and saving this season.
To save costs when entertaining large groups, it is best to buy bulk and have guests bring side dishes to share. With recession-driven worries still looming around the corner, more families are opting for low-key gatherings rather than big pool bashes. Coupons are also a major way for families to save costs, but are often forgotten about especially while on vacation.
Rising gas costs have also affected the way people shop and spend their time out in the hot weather. Instead of jet-setting to exotic locations, families are looking for local events and attractions or simply staying at home with good food and friends.
Weather-Altering Budget Stats
The Smart Summer Spending Infographic Reveals Insightful Tips
Trend Themes
1. Bulk Buying - The trend of buying in bulk and sharing side dishes when entertaining large groups presents opportunities for bulk retailers and meal delivery services to offer cost-effective solutions
2. Couponing - As families are opting for low-key gatherings, local coupons can be a major money-saving opportunity for businesses to offer promotions and discounts to attract customers
3. Local Attractions - The trend of families looking for local events and attractions or simply staying at home presents an opportunity for local businesses to offer entertainment and food delivery services
Industry Implications
1. Bulk Retail - Bulk retail stores and wholesale distributers could capitalize on the trend of buying in bulk and sharing side dishes when entertaining large groups
2. Meal Delivery - Meal delivery services could offer cost effective meal solutions for entertaining and group gatherings
3. Local Entertainment - Local entertainment businesses could offer promotions and events for families looking for local attractions and events