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Copyright 2010, John Gerzema/Young & Rubicam2
Copyright 2010, John Gerzema/Young & Rubicam
WE EXAMINED 18 YEARS OF DATA FROM BRAND ASSET VALUATOR®
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WORLD’S LARGEST DATABASE OF BRANDS
OVER 800,000 CONSUMERS
50,000 BRANDS
275 STUDIES
ACROSS 51 COUNTRIES
QUARTERLY U.S. PANEL OF 16,000 RESPONDENTS
$ 130 MILLON INVESTED
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TO SUPPLEMENT OUR DATA, WE TRAVELED ACROSS AMERICA
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WE ARE MOVING FROM MINDLESS TO MINDFUL CONSUMPTION
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Copyright 2010, John Gerzema/Young & Rubicam
THE SPEND SHIFT IS THE MAJORITY OF AMERICA
Total US population estimate age 22+ / 208 million people Another 26.6% exhibit similar beliefs and behaviors (55.4 Million people)6
THE SPEND SHIFT IS A CONSUMER LED MOVEMENT TO PROMOTE VALUES THROUGH THE POWER OF CONSUMPTION
113.4 MILLION PEOPLE
54.5%
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THE SPEND SHIFT SUGGESTS WE’RE MORE ALIKE THAN DIFFERENT
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SPEND SHIFTERS THROUGHOUT THE WORLD
8Source: BrandAsset ® Valuator’ international values segmentation — 4-C’s (Cross-Cultural-Consumer-Characterization)
Copyright 2010, John Gerzema/Young & Rubicam
FOR 80% OF AMERICANS, THIS IS A RECESSION LIKE NO OTHER
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TRUST DECLINE ACROSS INDUSTRIES 2005 TO 2010
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NEW PRIORITIES IN EXPECTATIONS FOR COMPANIES AND BRANDS
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“I FIND THE MORE I HAVE THE MORE I WANT.”
DISAGREE
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THE ROLE OF CONSUMERISM IN THE AMERICAN DREAM IS CHANGING
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AND THE ECONOMIC PAIN HAS LEAD US TO RECONSIDER OUR VALUES AND OUR PRIORITIES
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“MONEY IS THE BEST MEASURE OF SUCCESS.”
77.9%
87.5%
DISAGREE
50
40
30
20
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019971993 2001 2005 2008 2009
PE
RC
EN
TAG
E
USAGE (NEED)
PREFERENCE (WANT)
SHIFTING CONCEPTS OF NECESSITY
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OUR SHIFTING CONCEPTS OF NECESSITY
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PEOPLE WERE ADJUSTING THEIR LIFESTYLES EVEN BEFORE THE CRISIS HIT
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THIS IS NOT A “NEW NORMAL,” BUT A RETURN TO NORMAL
16 Source: Board of Governors of the Federal Reserve System
RESILIENCY OPPORTUNITYOPTIMISM
Copyright 2010, John Gerzema/Young & Rubicam
SPEND SHIFT NO. 1 THE NEW AMERICAN FRONTIER
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“SINCE THE RECESSION I’M ACTUALLY MORE CAPABLE OF STARTING MY OWN
BUSINESS.”
48.0%
60.0%
AGREE
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PEOPLE ARE MORE HOPEFUL AND OPPORTUNISTIC
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AND MANY ARE MOVING FROM INDUSTRIAL TO INDUSTRIOUS THINKING
39.0%
53.0%
AGREE
“THERE IS A GREATER OPPORTUNITY FOR INDIVIDUAL BUSINESSES TO COMPETE WITH
LARGE COMPANIES THAN THERE USED TO BE.”
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CHARLES SOREL OWNER/RACONTEUR:LE PETIT ZINCDETROIT
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TORYA BLANCHARDOWNER: GOOD GIRLS GO TO PARISDETROIT
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PATRICK CROUCHPROGRAM MANAGER:EARTHWORKS FARMSDETROIT
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PAUL SAVAGECEO/RENEWABLE ENERGY PUSHER:NEXTEK POWER SYSTEMSDETROIT
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SPEND SHIFT NO. 2 DON'T FENCE ME IN
EDUCATION BETTERMENTRETOOLING
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64.7%
80.3%
AGREE
“SINCE THE RECESSION I AM INTERESTED IN LEARNING NEW SKILLS, SO I CAN DO MORE
MYSELF AND RELY LESS ON OTHERS.”
Copyright 2010, John Gerzema/Young & Rubicam
PEOPLE ARE MORE SELF-RELIANT AND RESOURCEFUL
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84.1%
92.5%
AGREE
“THESE DAYS, I FEEL MORE IN CONTROL WHEN I DO THINGS MYSELF INSTEAD OF RELYING
ON OTHERS TO DO THEM FOR ME.”
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PEOPLE ARE IN-SOURCING AS WELL AS “UN-CONSUMING”
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LESLIE HALLECKFOUNDER: NORTH HAVEN FARMSDALLAS
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MIRIAM RODRIGUEZLIBRARIAN:PUBLIC LIBRARYDALLAS
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PHIL TORRONE & LIMOR FRIEDFOUNDERS:ADAFRUIT INDUSTRIESNEW YORK CITY
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ROB KALINFOUNDER: ETSYBROOKLYN
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SPEND SHIFT NO. 3 THE BADGE OF AWESOMENESS
ADAPTABILITY THRIFTNIMBLENESS
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64.7%
80.3%
AGREE
“SINCE THE RECESSION, I REALIZE HOW MANY POSSESSIONS I HAVE DOES NOT HAVE MUCH TO DO
WITH HOW HAPPY I AM.”
Copyright 2010, John Gerzema/Young & Rubicam
PEOPLE EQUATE HAPPINESS AND FREEDOM WITH NEEDING LESS
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64.8%
77.4%
AGREE
“SINCE THE RECESSION I REALIZE I AM HAPPIER WITH A SIMPLER, MORE DOWN-TO-EARTH
LIFESTYLE.”
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FIXED COSTS AND OVERHEAD ARE “THE ENEMY”
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MAURA McCARTHYCO-FOUNDER: BLU HOMESWALTHAM, MA
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RUSS STANLEYVP TICKET SALES:SF GIANTSSAN FRANCISCO
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SPEND SHIFT NO. 4 BLOCK PARTY CAPITALISM
AUTHENTICITY LOCALITYCHARACTER
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“I AM WILLING TO PAY A PREMIUM FOR PRODUCTS/SERVICES FROM COMPANIES THAT
CONTRIBUTE TO MY LOCAL COMMUNITY.”
64.7%
70.0%
AGREE
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PEOPLE ARE SEEKING OUT THE LOCAL AND THE ARTISANAL
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WHILE MANY INCREASINGLY TURN AWAY FROM BRAND NAMES
“I PREFER TO BUY NAME BRANDS.”
61.6%
55.6%
AGREE
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LYNN JURICHCO-FOUNDER & PRESIDENT:SUN RUN INC.SAN FRANCISCO
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TOM LEVINOWNER: TOM’S TOYS AND A SUPPORTER OF BERKSHARES CURRENCYGREAT BARRINGTON, MA
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JON NORTONCITY MANAGER AND RECYCLEBANK ENTHUSIASTEVERETT, MA
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SPEND SHIFT NO. 5AN ARMY OF DAVIDS
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COOPERATION AMPLIFICATIONCOMMUNITY
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A GROWING TREND TOWARD “COOPERATIVE CONSUMERISM”
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“I BELIEVE MY FRIENDS AND I CAN CHANGE BEHAVIOR BY SUPPORTING COMPANIES THAT DO
THE RIGHT THING.”
65.5%
69.0%
AGREE
Copyright 2010, John Gerzema/Young & Rubicam
ALTHOUGH PEOPLE FEEL LESS RICH, THEY ARE “VOTING” WITH THEIR PURSESTRINGS
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“I MAKE A POINT TO BUY BRANDS FROM COMPANIES WHOSE VALUES ARE SIMILAR
TO MY OWN.”
70.9%
75.0%
AGREE
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ANDREW MASONFOUNDER: GROUPONCHICAGO
SCOTT MONTY & BOB THIBODEAUHEAD OF SOCIAL MEDIA FORD MOTOR CO. & OWNER OF FAMILY DEALERSHIPDETROIT
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WE ARE MOVING FROM A CREDIT TO A DEBIT SOCIETY
Copyright 2010, John Gerzema/Young & RubicamPhoto from Thomas Hawk85
THERE ARE NO LONGER CONSUMERS, ONLY CUSTOMERS
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AMERICA IS AN EMERGING MARKET FOR VALUES-LED INNOVATION
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