The recent downturn has tempered—not traumatized—consumers.
My colleague, Alex Vorro, recently
Financially, they're getting stronger and more enlightened. The new report by
Such inquires are now close to parity with debt calls, indicating that “consumers are dramatically shifting their attitude towards their money and the way they manage it to become more responsible consumers, savers and investors.” As the report put it: "Instead of becoming victims of the crisis, they are using it as an opportunity to get their financial house in order—recognizing that they can't control the swings in the market or the actions of their employers, but they can control how they spend, save and invest their money.”
Also, today's “post-crisis” consumer is more likely to be value-conscious and community-oriented. John Gerzema, chief insights officer for
The key for businesses is getting out in front of this new thinking through social networking engagements, Gerzema recommends. He calls this emerging trend “cooperative consumerism”—consumers working together to get what they want out of the marketplace. Gerzema urges companies to get out in front of the cooperative consumerism trend and become “community organizers.”
Joe McKendrick is an author, consultant, blogger and frequent INN contributor specializing in information technology.
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