Strategies for post recession consumers

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Alex P Keaton

Marketing 350

9/30/09

                                Marketing Project- Individual

        In the article, “Time to reset strategy for post-recession consumer” by David Donnan, what has changed consumers in the present and what will drive consumers in the future is analyzed.  As the result of the enormous financial meltdown, consumer spending is down and consumer behaviors are changing.  Donnan argues that the lost wealth of Americans will produce a new consumer; who need to be identified and targeted for future economic growth.

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        Americans have seen a 22% decline in its collective net worth.  Add this to a high unemployment rate and you have diminished consumer confidence.  Consumers will adjust their spending patterns and reevaluate their priorities.  A greater emphasis will be placed on affordability and functionality.  Donnan states, “Indicators signal that we are entering a new era of nonconspicuous consumption… where less is more; where an emphasis on quality will replace a desire for quantity; and where the pursuit of enjoyment, purpose, and fulfillment will supersede a quest for material success and personal achievement”.  This is a profound statement about the ...

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