What to make of consumer behavior

Florida, supposedly, has the nation’s highest rate of home foreclosure activity and its tourism-based economy is said to be struggling, as fewer people take vacations to theme-parks. There may be truth to both points, but other anecdotal evidence point to a consumer that is willing to spend and is apparently unfazed by relentless news reports of an impending global economic meltdown. For example, Target’s new SuperTarget store in the tourist Mecca of Kissimmee, Fla. enjoyed heavy customer traffic throughout its grand opening on Sunday, March 8, with most of its 20 checkout lanes open. Aggressive promotions and coupons direct mailed to nearby residents helped generate traffic, but there were plenty of tourists on hand too judging from the number of sunburned customers wearing flip flops. Sam’s Club enjoyed a similar experience, without the tourist element, when it opened a new club on Jan. 22 near the sprawling retirement community of Lady Lake, about an hour northwest of Orlando. The club had the highest opening day sales of any Sam’s unit, ever. Additional evidence of consumers’ willingness to spend was evident when the Florida State Fair convened in Tampa beginning Feb. 5. Despite record cold temperatures during the beginning of the event’s 12-day run and admission prices that increased to $12 from $10, the total attendance of 465,000 was off only 5% from the prior year.