[Video] The “Post-Crisis” Consumer

Part of the “Video Mondays” series

As job growth in the US is reported to have stalled, a host of commentators have weighed in recently on the prospects for the “new normal” among consumers. (BusinessWeek‘s David Leonhard had one roundup on the paradox of current consumer psychology).

As such, it seems like an apt time to look back at John Gerzema’s talk from BRITE ’10 this spring, on the subject of “The Post-Crisis Consumer.”

Drawing on a wealth of data on consumer sentiment, John looked at how attitudes towards spending, values, and brands were changing even before the market collapse of fall 2008.

Whether or not we are anywhere near being “post-crisis,” the focus Gerzema sees on social values and the enterprises that embody them may characterize customers for years to come.

BY DAVID ROGERS

If video does not appear, click here to watch it on BRITEconference.com

This post originally posted by David on the DavidRogers.biz blog at: http://www.davidrogers.biz

Consumer Confidence and The Brand Bubble

John Gerzema, one our BRITE ’10 speakers and the Chief Insights Officer at Young & Rubicam, is concerned that Wall Street thinks brands are worth more than consumers do. In his recent book, The Brand Bubble: The Looming Crisis in Brand Value and How To Avoid It, Gerzema and his co-author (Ed Lebar) contend that the consequence of this variance in valuation is a brand bubble that could erase a significant amount of intangible value within business and the global economy. Watch Gerzema elaborate on this theory in the video below.

So what should be done to avoid a brand bubble? Gerzema is now looking at what motivates the “post-crisis consumer” and how companies can react and build their brand in response to it. He sees today’s consumers moving from fear to empowerment by being smarter about how they save and spend money. In a recent blog post Gerzema began to riff on the idea of “slow marketing” tactics that can help post-recession marketers:

• Remember to tell the story of your roots.
• Embed feedback into your company, your brand and your marketing.
• Show both the value and values of your brand.
• Practice declasse consumption–reckless spending is out.
• Learn “flea market capitalism”–based on personality, uniqueness, provenance and storytelling.

To hear John Gerzema speak at BRITE ’10, register now.