retailers
CONSUMERS
New Consumer Values and Changing Consumer Behavior
How to Talk to Today’s Consumer
By Sara Batterby
C
hanging consumer behavior is rations and pinned, by our ego’s, onto our out over self interest and that is rare
being attributed, in large part to identities where they shine for all the indeed. Values allow us to positively
new consumer values. The world to see. The gap between the energy interpret our self interested behavior so it
emerging narrative is, quite literally, tak- we are prepared to invest in defending is no surprise that they have come to
ing over the conversation between con- our values and the effort we make actual- dominate the narrative between business
sumers and corporations trying to catch ly employing them is so broad as to make and the consumer. What is surprising
their attention. We are all familiar with it clear that values are both deeply impor- however is that more people don’t recog-
the themes. Green, sustainable, commu- tant to us yet entirely optional from a nize that this narrative is somewhat of a
nity, connection, consciousness, global- practical standpoint. They are permissive “tea party conversation” that skirts the
ism and so on. Sounds like we can all and don’t carry the performance require- real, if less flattering, motivations behind
congratulate ourselves on being a more ments of, say, principles which must our choices. That does not make the nar-
enlightened people but I’m having a hard always be applied to hold true. On a list rative any less useful as it pertains to
time swallowing it. of needs to wants, values would fall into branding, marketing and communica-
What are these new values and what the “nice to have” section. tions in general, but it does mean that it is
relationship do they really have with how By way of illustration, as if a good only part of the picture. It makes sense
we spend our money and develop brand hard look at all of our own personal lives for corporations to fill in the blanks if
loyalty? I think that values are self wasn’t enough, consider how enraptured they want to address the real concerns
defined, self endowed virtues that we use we are with stories of self sacrifice and and motivations of their customers.
to positively interpret our own behavior. lofty deeds. This is because they are the So what are consumers experiencing
Badges, as it were, invented by our aspi- heroic tales of values actually winning right now? How do they feel and what
are their new values an expression of?
What do they need or want to hear from
business to address the actuality of their
lives in these highly volatile and transi-
tional times? There are no definitive
answers to these questions but they are
the questions that companies need to be
asking themselves if they want to engage
in the values narrative with consumers in
a way that also connects with their
stronger, more basic motivations.
I think the values that are emerging
are all, ultimately, based on a nation wide
sense of uncertainty. To put it bluntly;
Fear. Fear of what exactly? Grossly sim-
plified; fear of scarcity and fear of threat.
Scarcity (or the recognition of it, despite
being the first law of economics, has only
very recently shown up in the American
consumer psyche. For the first time we
are realizing that our consumption habits
are unsustainable and do not support our
long term, or even sort term, well being.
74
www.blackeoejournal.com The Black E.O.E. Journal
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84