We (you and I), people who are in the eye of the recession and were in the eye of the unrealistic boom are one of the most interesting consumer segment I have come across during my marketing career. This is the reason why I think so
- We saw a magnanimous growth in last few years – We saw more than one economic bubble i.e. the dot.com bubble, real estate bubble, and the most interesting of it all is the rise and fall of credit based economy.
- We have seen wars and threats of terrorism – 9/11, Iraq war, Afghanistan war
- We have seen the most devastating natural disasters – Tsunami, Earthquakes (Haiti, China, Pakistan) and still we are expecting much more as the “globe is warming up to take its revenge from mankind.”
- We have seen media revolutions and are still witnessing it – Satellite television, computers, Internet & social media
All of this has shaped our behavior, we can laugh about things which our previous generations couldn’t. We worry about situation which never existed before. In short, We are stronger, agile, insecure and more connected. If you disagree then enlighten me with your opinion.
Now in the following presentation I am investigating the post-recession consumer. I believe the world is going through an optimism divide i.e. hopeful BIC (Brazil, India & China) vs. the rest of the world. The insecurities and the charged passion is changing marketing landscape.
Here is my view:
I talked about trust in this blog almost 6 months ago and PWC’s report released today on 31-Oct-10 just re-confirms my thoughts (talk about bragging): PWC – Trust report
Survey report – 3 out of 5 people in UAE believe that UAE is in recession – (This is just the executive summary – full report can be viewed by premium members)