As the effects of the global recession linger, consumers everywhere are changing their purchasing patterns, paying greater attention to what and why they are buying, and from whom. While many feel rampant spending is hard-wired into the modern psyche and that we will be back to our wasteful ways soon enough, there are clear indications of a permanent shift in the way we shop. Even before the economic downturn, consumers' definitions of value had begun to change. People were becoming more mindful about their purchases and more attuned to the social and environmental implications of their choices.
To better understand this important evolution and its ramifications for business, Andrew Benett and Anne O'Reilly launched a groundbreaking study on the New Consumer and the escalating dissatisfaction over hyperconsumerism. Here, for the first time, is an in-depth look at the new face of the global consumer, showing that:
• A significant majority in the seven markets surveyed are deeply worried about the direction in which our consumption-obsessed society is moving. They believe people have become both physically and mentally lazy, and that, as a society, we have lost sight of what truly matters.
• Two-thirds believe they would be better off if they lived more simply, and a quarter say they would be happier if they owned fewer things.
• Half of Americans surveyed are deriving a sense of satisfaction from reducing their purchases during the downturn, and three-quarters are feeling good about cutting back on the amount of waste they create.
• A majority of Americans have no intention of going back to their old shopping patterns, even when the economy rebounds.
Now, as the consumer voice signals its changed priorities, forward-thinking companies are responding by rejecting excess and artificiality in favor of products and communications that offer authenticity, substance, and interconnectedness―all values today's more mindful consumer craves. In this book, the brand experts look at corporations as diverse as Glenmorangie and Wal-Mart to see what lessons they can offer to businesses attempting to grow in the postconsumerism era. They also spoke with corporate leaders in a variety of industries to learn how they are recasting their businesses and brands in order to prepare for the changes ahead. Through cutting-edge research and a sharp look at new industry models, Consumed provides real direction for marketers and managers.
Andrew Benett is Global CEO of marketing communications agency Arnold Worldwide and Global Chief Strategy Officer of Havas Worldwide. His career in marketing spans nearly two decades and includes hands-on experience in almost every marketing discipline and across multiple product and service categories. His unique perspective benefits from his experiences working on the client side, in consulting, and for global communications agencies. In 2009, Andrew was named to Crain's New York Business's "40 Under 40." Outside of work, Andrew sits on the Board of Directors of The Make-A-Wish Foundation International. He is married and has two sons. In 2009, he co-authored Good for Business.
Ann O'Reilly is a strategic planner and content director of Euro RSCG Worldwide's Knowledge Exchange, in which capacity she is responsible for developing and managing the global network's proprietary research. She has more than twenty years' experience in marketing and publishing, and is co-author of Good for Business, The Future of Men, and Buzz: Harness the Power of Influence and Create Demand, among other books.
