Survey Says: Be Nice

SunTrust Bank is finding a kinder, more community-spirited consumer who’s tired of pinching pennies, but willing to go on doing just that.

Rilla Delorier, Sun Trust’s Chief Marketing Officer, said that’s one of the messages from the Sun Trust Solid Index survey of consumers released today, as well as other surveys she sees. Consumers are saving more, they’re more interested in family and community, and they’re more likely to spend their dollars with a company they trust and respect.

“Businesses need to learn how to compete for the small amount of wallet people are spending,” she said. “Consumers are looking for businesses they trust, that stands for something they support.”

The survey found that 64 percent of consumers surveyed feel like they ought to be grateful for the job they have. Fifty-four percent are tired of cutting back on the little things. And nearly 93 percent made a purchase in the last three months to give them a “pick me up.” For most of those consumers, though, the purchase wasn’t exactly extravagant—for 72 percent, it was a meal at a restaurant, and 69 percent said they’d bought a sweet treat.

But if there are a lot of frustrated consumers out there, there are also a lot that are turning back to old-fashioned values to get them through the tough economic times.

“What you can see is them reaching out and swapping a solid,” said Delorier. “They’re reaching out to each other… and they’re looking for companies to do that as well.”

Fifty percent of those surveyed said they were spending more time with family. Eighty-seven percent had given hand-me-down clothes; prepared meals; babysat; helped with renovations; or carpooled with a neighbor or friend. And 87 percent say they define their self-worth through their relationships with others.

What that adds up to for companies, said Delorier, is those that focus on giving back to the community will do better with consumers who are looking to do the same.

“Human to human contact and connection is rising in importance. That’s the big aha for us,” she said. “From a business perspective it means we need to be connecting with them in different ways as well.”