The Great Recession and the New Normal.
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The Great Recession and the New Normal.
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The Great Recession and the New Normal.
- 1. & “The Great Recession” the New Normal
- 2. ? “Great Recession” Great…? Who makes this stuff up? Come on… who makes this stuff up?
- 3. Where’s the iconic imagery like the last “great” event? Dorothea Lange (May 26, 1895 – October 11, 1965)
- 4. Oh, here it is…
- 5. And here…
- 6. And here in a graphic age disparity (watch this one closely).
- 7. “Great Recession” or Economic downturn… Regardless, the outcome has been a fundamental change in behavior of (most) US consumers
- 8. Consumers found themselves Working too hard Carrying too much debt Not living for the long term
- 9. Perhaps it was time for a reset…
- 10. What if the result of the Great Recession was a movement promoting quality, responsibility, and human kindness?
- 11. What if the collapse of inflated real estate and stock prices drove consumers to higher levels of creativity, cooperation, and community?
- 12. What if tight economics caused corporations to be more ethical, more responsible and offer consumers better quality along with better prices?
- 13. What about the consumer? What is the New Normal?
- 14. 75% would rather get out of the rat race than climb the corporate ladder
- 15. 76% would rather spend more time with family than make more money
- 16. would trade job security over a job that offered the opportunity for raises 75%
- 17. 92% of consumers are using coupons
- 18. 91% are shopping at cheaper or discount stores
- 19. 90% are buying more store brands (and like it)
- 20. 69% say that the recession has caused them to rethink their perspective and values.
- 21. 78% say that the recession has changed their spending habits (for the better)
- 22. The New Normal consumer has dramatically increased research they do before making purchases (large and small).
- 23. So what does this mean to the Marketer?
- 24. The New Normal consumer has changed (and is likely still changing)
- 25. If you haven’t changed right along with them, you may already be a dinosaur (and not even know it).
- 26. ? The New Normal. Do you know who you are selling to now?
- 27. 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