by Cree McCree
WHAT’S HAPPENING
- Too much stuff? Enter “the Simplifier.” The new psychographic, identified by marketing expert John A. Quelch, is a middle-aged affluent looking to downsize during the downturn because she wants to, not because she has to (Harvard Business Publishing 10.15.08).
- Consumers with assured wealth look around at all their stuff and feel more sheepish than proud. Why? It embarrasses them. Gas-guzzling SUVs no longer signal success, just irresponsibility.
- Conspicuous consumption may be out, but Simplifiers are still spending. They want to amass experiences, not possessions, and would rather savor pleasures like foreign travel than pile up yet more toys.
WHAT THIS MEANS TO BUSINESS
- Even before the economic crisis, empty-nest affluents were starting to simplify. Now they’re downsizing even more. Who needs a huge house when you’re on the road half the time, for business and/or pleasure?
- The future looks bright for experience-purveyors, whether they’re selling fine dining, extreme sports or adventure treks. But luxury-goods manufacturers may need to reposition their products.
- Truly authentic brands can flourish in this environment if they deliver a distinctive consumer experience laced with social responsibility.
RESOURCES
