Understanding this Recession from the Consumers’ Point of View

June 23, 2009

I’ve been giving presentations all over the country for the past couple of months on Frugality 2.0 talking with clients and prospects about this recession and its impact on certain categories and brands. Through my travels I’ve been faced with lots of tough questions like “How are consumers redefining value?” “Which recessionary behaviors will stick?” “What brands or categories are safe?”

There are thousands of articles that talk about the new normal. Some analysts say we are near the end, and consumers will be “back to normal” with their spending habits soon. Others say it will never go back.

I’m not a futurist or even a financial guru but we recently conducted research to examine the emotional impact of the shrinking economy and gain insights on how today’s economic situation influences consumer buying behavior.

Over the next month I will share those results with you and answer some of these pressing questions. In the meantime, if you’d like to hear the results in person, just let me know and we can arrange a meeting. Or, if you have a specific question that you are looking to answer, submit it here.

Up next…Understanding the new definition of value.

posted by Northlich June 23, 2009 in cultural storms

comments

Clyde Boyce says: June 23, 2009 at 5:20 pm I’d love to hear/get a copy of your research and presentation. Also, just wondering if you have had a chance to compare your research against the Initiative study “The Game Changer” referred to in one of Brian’s twitter posts. Reply Ashley says: June 24, 2009 at 3:36 pm Hi Clyde, Thanks for the comment. We will be in touch with more information about the Frugality 2.0 research. In terms differentiating our approach, our Northlich study focused on how consumers have changed or modified their current buying behaviors as a result of the recession. Reply