In the news
Feb 24, 2010
Rethinking retail in the age of the grounded consumer
Retail Customer Experience
Many business owners, especially those in the retail sector, were happy to bid farewell to 2009—a year defined by high unemployment rates, decreased consumer spending and myriad financial uncertainties. The onset of 2010 brought hope and perhaps a proverbial light at the end of the tunnel. While the end of the recession may be in sight, our culture is undoubtedly forever changed due to this economic crisis.
Some believe that as the economy continues to improve consumers will return to their old spendthrift ways, forgetting the lessons learned during these difficult economic times, but I strongly disagree. I believe a permanent cultural shift has occurred as a result of the downturn and a new “grounded consumer” has emerged.
My company, Context-Based Research Group, a consumer anthropology firm with cultural anthropologists around the world who observe human behavior to uncover the reasons behind why people do what they do, conducted two studies during the Great Recession to uncover insights into the changes in consumer behavior.
The first study, “Grounding the American Dream,” used ethnographic research to identify a five-stage process people were undergoing at the close of 2008 and through 2009:
Stage 1: Goodbye Homo economicus “I no longer want to be defined by what I buy.”
Stage 2: My Life is Not a Loan “I cut back my credit and started to save.”
Stage 3: From a Me to a We Economy “Transacting life is not as valuable as building relationships.”
Stage 4: unSTUFFing Our Lives “I’m getting rid of value-less things and surrounding myself with people and things that matter.”
Stage 5: The Grounded Consumer “Now I’m more strategic and smarter – connecting my emotional, rational and social senses to how I live and consume.”
Read the full article here
