I still believe these trends are on track, but I also believe in Pittsburgh-based Heinz Chairman and CEO William Johnson’s view that the he sees a long-lasting consumer shift to thrift and must carefully balance its business strategy in response.
I’m totally tracking with him and have dialed up my recommendations to clients that they need to create more value and more transformational quality experiences for their customers.
Brands need to recognize that when the economy does return to the positive, consumers are going to be more conservative in their spending, looking for more value and more unique, quality experiences than ever before. They do not feel safe with their careers or finances now and I doubt the majority ever will again.
Lastly, one other trend that we all need to dial up, recognize, learn, test, implement etc., is the “easiness” trend which is being driven by consumer’s lack of time and resulting in technology advances especially in mobile marketing and television entertainment and its Web-based convergence. More to come on this trend and Web 3.0 (see Jessi Hempel’s January 8th article in Fortune Magazine) advances in future posts.