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The Great Recession and the New Normal.
 

The Great Recession and the New Normal.

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The Great Recession and the New Normal.

The Great Recession and the New Normal.

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    The Great Recession and the New Normal. The Great Recession and the New Normal. Presentation Transcript

    • &
      “The Great Recession”
      the
      New Normal
    • The “Great Recession”
      and the New Normal
    • ?
      “Great Recession”
      Come on… who makes this stuff up?
    • Where is our iconic imagery ?
      Dorothea Lange
      (May 26, 1895 – October 11, 1965)
    • Here it is…
    • And here…
    • some felt it more than others
    • Let’s not waste the gloom
    • “Great Recession” or
      Economic downturn…
      Regardless, the behavior of (most) US consumers has fundamentally changed
    • Consumers found themselves
      Working too hard
      Carrying too much debt
      Not living for the long term
    • Time for a reset…
    • What if the Great Recession resulted in a sweeping movement promoting quality, responsibility, and human kindness?
    • What if the collapse of inflated real estate and stock prices drove consumers to higher levels of creativity, cooperation, and community?
    • What if tight money made corporations behave more ethically and responsibly while offering us better quality along with better prices?
    • 75%
      would rather get out of the rat race than climb the corporate ladder
    • 76%
      would rather spend more time with family than make more money
    • would trade job security over a job that offered the opportunity for raises
      75%
    • 92%
      of consumers are using coupons
    • 91%
      are shopping at cheaper or discount stores
    • 90%
      are buying more store brands (and like it)
    • 69%
      say that the recession has caused them to rethink their perspective and values.
    • 78%
      say that the recession has changed their spending habits (for the better)
    • Consumers have dramatically increased the research they do before making purchases large or small.
    • So what does this mean to the Marketer?
    • The consumer has changed (and is most likely still changing)
    • If you haven’t evolved, you may already be a dinosaur (and not even know it).
    • ?
      Do you know who you are selling to now?
    • LinkedIn Profile- Click Here
      www.graham-mcinnes.com
      For more information-
      www.ogilvy.com/News/Press-Releases/March-2010-Eyes-Wide-Open.aspx
      www.mckinseyquarterly.com/How_the_recession_has_changed_US_consumer_behavior_2477