This blog posting by Jay Suhr makes a great deal of sense in which he tries to answer the question that fascinates me: “is the recession a defining moment for our consumer-driven society.” If it is, what impact will it have?
The conclusion he reaches is that the Boomer, Me, X and Millennial generations may have morphed into a new “Cautionary Generation” that saves that is committed to using less that now associates the amassing of stuff with the loss of financial cushions, secure retirement or the ability to pay their mortgage.
Even though there is much talk of green shouts, he believes that many people are still bracing for another unexpected dip.
I agree with much he says and what is for sure, few brands have got their head around what implications these changes have on the way they interact with consumers.
A very interesting posting and one that it is well worth reading.
I like the term “Cautionary Generation” but feel there are probably more descriptive and memorable ways of describing today’s consumers. My favourite is the “Tightrope Generation”.
Any other ideas for a generational name?