Post Recessionary Consumers – Eyes Wide Open, Wallets Half Shut

Ogilvy and Mather’s study titled Eyes Wide Open and Wallets Half Shut also contains a wealth of information on the new consumer that corroborates the findings of Young & Rubicon, Euro RCSG, The UK Futures Institute / Yankelovich, and BBMG. Some key highlights of the Ogilvy & Mather study include:

  • Consumers will look before they leap with more research before they buy, more label reading, comparison shopping, talking to friends.
  • While some are simply cutting back, many are re-imagining their lives, creating whole new systems of values and behaviours.
  • In this post recession reality we’ve moved from choices that were relatively passive, carefree and simple to ones that are active, deliberate and complex
  • American consumers are reconnecting with what they feel is local and tangible – themselves, their family, their community. They are much more engaged in what is going on in their own backyards.
  • Marketers need to appreciate, respect, and support consumers in their efforts to lead more sustainable lives. It is a more complex value proposition—keeping themselves healthy and saving money; inspiring creativity and conserving resources—but brands that can address these multiple needs will be in step with what consumers are seeking and complement the emerging mindset.
%d bloggers like this: