Sunday, January 11, 2009

What Are PEOPLE actually doing?

After talking to some people about money i've learned a few things about how spending habits are changing:

Saying "No" - The world is in a time of economic downfall. Because everyone is going through this together, there is an openness with shortcomings and less of a drive to "keep up appearances." It's okay to say "no" to things you don't need.

Getting away with it. - Cuts need to be made, but people still respect and want the products and services they've aspired to or used in the past. They still follow and trust Brands that speak to them, even if they're not buying they're paying attention.

Migrating - People have their favorite places to shop and usually the experience at those places are better than the nearest alternatives. As prices rise, consumers will sacrifice shopping experience for easy savings.

Reducing - People still want to experience the things they enjoy. Eliminating all indulgences is a last resort, in the meantime treats are scaled back in size and frequency.

Maximizing Benefits - Some brands of products just work better. They have a functional reason to succeed and therefore usually cost more. When saving money, people figure out how and when they can substitute cheaper products for their superior counterpart.

Procrastinating. - People will not change until they have to.


boxgirl said...

my recent trip through the mcdonalds drive thru at 3 in the morning was the highlight of my evening and my friend and i marveled at their revamped fancy looking buns...great fun does not mean $$$. we basically revert back to when we were young and poor , although to some of this this isn't new which is both a curse and a blessing.

boxgirl said...

shit. i only write stupidly when i write to you.