Case Study: Eyes Wide Open, Wallet Half Shut
Presented by: Manila Austin, Director of Research Communispace Corporation & Graceann Bennett, Managing Partner, Director of Strategic Planning, Ogilvy Chicago
Americans have just lived and are arguably still living through one of the biggest economic crises of our time. Everyday life has become harder to manage and as a country we have faced unprecedented challenges. This crisis has taken a toll on our emotional as well as our financial well being. Consumers are sitting right in the middle of this disequilibrium and have been forced to reflect, react and change to this new reality. There is so much information about how the recession has hurt the everyday consumer. But what happens now? As we embark on a recovery, we feel compelled to know how the experience has shaped the lives of everyday Americans. As thought leaders and experts in understanding consumer behavior in the context of our culture, Ogilvy and Communispace teamed up to make sense of the effects the recession has, and will have on Americans. In this study, we attempted to answer some important questions by surveying 1200 U.S. consumers and qualitatively exploring key topics with 500 online community members.
- How are consumers emerging from the recession?
- What changes are they and will they make in the short term? Long term?
- What will post recession consumers want, need, desire?
- How will they prioritize spending their time and money?
- How can marketers and brands stay relevant as they navigate this new landscape?
- Are there any notable differences when looking at generations, gender, or geography?
The end result provides clarity and direction for staying relevant with the post recession consumer.