The Harvard Business Schools’ Working Knowledge blog is warning is to “watch out for a new brand of consumer in 2008: the middle-aged Simplifier.”
She finds herself surrounded by too much stuff acquired. She is increasingly skeptical in the face of a financial meltdown that it was all worth the effort. Out will go luxury purchases, conspicuous consumption, and a trophy culture.Tomorrow’s consumer will buy more ephemeral, less cluttering stuff: fleeting, but expensive, experiences, not heavy goods for the home.
…The Simplifiers have four characteristics:
- First, they perceive that they have more
stuff than they need. Sure, they may collect something specific like
porcelain figurines as a hobby, but they are the opposite of the pack
rats who fill their attics and basements with
“you-never-know-when-you-might-need-it” stuff.- Second,
they want to collect experiences, not possessions. And they give
experiences rather than goods as gifts to friends and relatives.
Experiences may seem ephemeral. They cannot be inventoried except in
the form of “Kodak” moments; but they do not tie you down, require no
maintenance, and permit variety-seeking instincts to be quickly
satisfied. Dining out, foreign travel, and learning a new sport will
prove more resilient than expected in the face of recession.- Third,
their stuff embarrasses them. Their Range Rovers no longer tell the
world that they are sophisticated town and country socialites. There
are simply too many of them on the road to offer much social status.
Worse, they now signal the irresponsible selection of a gas-guzzler.- Fourth,
they have wealth that is so assured that it no longer requires
conspicuous display. They lease their cars, rent other people’s holiday
homes, and would happily outsource other aspects of their lifestyles.
They reject the marketer’s continual pressure to spend more money on
possessions rather than on education, health care, and other social
goods.
Read the rest of it here.
This is an example of market seams that companies need to find and exploit if they are to survive a serious recession.
It is worth keeping an eye on people following trends and microtrends (see also The Times Microtrends section).
