Thursday, July 2, 2009

The end of consumerism. Long live the consumer

Much talk has been made of the death of the conspicuous consumer. Especially in the states where over 70% of GDP is basically people buying "stuff". Well, here in Australia the story is a little different with the most recent retail figures showing the biggest growth in 2 years. Remarkable. Any one think the stimulus package is not working?

But what makes things more interesting is the rise of the neo (that's new eonomic order) consumer. A new way of buying. The neo consumer is not price sensitive. They buy less, but better. The buy brands that mean something to them. ANd they will carry on buying unrepeatable experiences. And there are about 4million of them in Australia. Big implications for product mix, brand building and, crucially, pricing. Could be time for a new approach, or maybe the time to ramp up marketing of the right products and services rather than throttle back.

For more on neo consumers have a look at For ideas on how to repsond, lets talk.

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