More industry highlights

Wal-Mart CEO Sees 'Fundamental Change' in Consumer Habits (Video)
"Consumers, particularly younger ones, who are seriously cutting back spending during the current economic downturn may be establishing new patterns of frugality that will live on after the recovery. That was one of the concerns of Wal-Mart CEO Lee Scott, who yesterday kicked off the National Retail Federation's annual convention in Manhattan. His candid comments come just weeks before he is scheduled to step down as CEO" Advertising Age

Lines Between Media Channels Increasingly Blurred
"From 2006 to 2008, the share of U.S. consumers using shopping Web sites doubled from 17% to 35%, according to a study released Monday. More revealing, perhaps, is that 44% of those online shopping consumers reported reading consumer reviews and comments found on the sites. This demonstrates that such e-commerce sites have transformed into virtual social gathering places and information destinations." Online Media Daily

Key Advertising Groups to Develop Privacy Guidelines for Online Behavioral Advertising Data Use and Collection
"Four marketing and advertising industry associations today announced that they are working together to develop enhanced self-regulatory principles for online behavioral advertising in order to address privacy concerns and to increase consumers' trust and confidence in how online information is gathered and used. The associations are the American Association of Advertising Agencies (AAAA), the Association of National Advertisers (ANA), the Direct Marketing Association (DMA), and the Interactive Advertising Bureau (IAB). The Council of Better Business Bureaus (BBB), a leading organization dedicated to advancing marketplace trust, is also part of the effort." BusinessWire

Survey: 45% of top U.K. marketers to cut ad spend this year
"Some 45% of U.K. marketers surveyed intend to cut their ad spending this year, while 20% plan to increase their budgets and the remaining 35% plan to keep spending levels flat, according to a survey of 250 major marketers in the U.K. by the Institute of Practitioners in Advertising." Advertising Age