Ogilvy & Mather - one of the biggest ad agencies on the planet - totally gets the state of the world. Their 2010 Post-Recession Consumer Study has me cheering from my rented patio furniture.
MARKETERS NOT CONNECTING WITH TODAY’S CONSUMER
RESEARCH REVEALS EMERGENCE OF RADICAL NEW INDIVIDUALISM
Sustainability is the New American Dream
CHICAGO, IL, March 15, 2010 – Today’s consumer is emerging from the recession with a radically new definition of the American Dream and a renewed sense in their own resourcefulness and priorities according to a just released quantitative study of 1200 consumers and qualitative research with nearly 700, conducted by Ogilvy & Mather Chicago in partnership with leading consumer insight company Communispace.
New View of the American Dream
Among the study’s key findings is that “having it all” is an unrealistic goal with 75% of those surveyed saying they would rather get out of the rat race than climb the corporate ladder – and instead, 76% said they would rather spend more time with family than make more money. Moreover, Americans are showing disenchantment with the pursuit of money with 75% again saying they would trade job security over a job that offered an opportunity for raises.
“The most surprising thing about our study was how much consumers were saying what they would NOT do for money, even when money worries are high on the list,” explained Graceann Bennett, Managing Partner and Director of Strategic Planning at Ogilvy & Mather Chicago. “Prioritizing your life based on money is seen as a sure way to be disappointed since the pursuit of money is often reliant on factors outside of consumers’ control. They have gone down this road before and are saying that they are not necessarily happier or better off as a result.”
In fact, the recession has revealed important new consumer priorities with quality of life and peace of mind at the top and a focus on living life in a more sustainable way both from an environmental and financial point of view.
“Sustainability” takes on a new Meaning
According to Manila Austin Ph.D., Communispace’s Director of Research, “Consumers didn’t fully understand the idea of sustainability until they found themselves living unsustainable lives – working too hard, carrying too much debt, and not living or planning for the long term. Now consumers are re-imagining their lives for a sustainable future for themselves and their families.”...
Related: Bruce Sterling's brilliant contemporary I Ching, the Viridian Design Movement