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Posts Tagged ‘consumer trends’

As an era of pretension gives way to the Age of Austerity,  saving has become the new spending. As the economy tumbles,  unemployment rises and the media is filled with tales of the excesses of the easy credit economy of the recent past,  consumers are becoming as attracted to saving as they once were to spending.

Marketers, have long benefited from the impulse purchasing consumer and their attraction to the latest trends in apparel, gadgets, automobiles and even housing. Think McMansions, iphones and SUV’s as an example . Today the hot new trend is saving and buying right.

The same gratification that consumers derived by rushing out and maintaining the status quo by purchasing the latest and greatest gadget, or dining at the hot new eatery of the week, will now be replaced by the satisfaction of watching their new savings account grow, while they dine at home on a convenient heat and serve entree enjoying their latest shipment from netflix.

 Americans have always valued a deal,  but in today’s market,  the value conscious consumer has emerged at the top of the consumer pyramid and will exercise a more disciplined, patient approach to their shopping experiences,  that will create new opportunities for those marketers that are savvy enough to recognize the trends. 

This new disciplined approach by consumers was evident during the most recent Holiday season as consumers continued to delay purchases,  while retailers discounted and then further discounted prices. Traditional winners in a receding economy like WalMart were even impacted and surprised by this new consumer.

It remains to be seen if the savings trend is temporal for the American consumer or presents a sea change in the American consumer psyche. What is evident,  is that there will be winners and losers in the near term as retailers and marketers adjust to a new market reality.

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