Hyper-consumption falls as new era of meaning and purpose takes hold

By Robert Wheatley

We are sitting at the threshold of a new epoch in brand marketing and communication. One where old voices tempting consumers to look for the thrill in upward mobility and finding the joy in toys is being replaced by a soulful search for things more meaningful, more substantive.

Now more than ever there is a need to align your brand with a new set of consumer-driven values, to chart a different course with a refreshed voice and message, more in sync with this seminal shift in consumer attitudes. Are you ready? Read on…

The economic “thwack” on the side of the head…

Leave it to one of the worst economic disasters America has seen to finally bring some closure on the continual debate between judging one’s life by the things you buy vs. the “softer values” of contentment, happiness and belonging. Hyper- consumption may well be the biggest casualty befalling strategies for marketing and business as the economy searches for a new path to growth.

While the cauldron of behavior change continues to boil…

Sure enough the pocketbook difficulties (owing more but having less) faced by consumers here and around the world remain bitingly fresh. According to a recent report published in Food Business magazine, consumer spending at restaurants declined 2.2% in 2009 from the previous year. While that may not sound like much it is nevertheless quite remarkable. The data just released by the Economic Research Service of the US department of Agriculture indicated it was the first year-to-year decline reported since 1949, and the largest single drop in the restaurant business since the height of the Great Depression in 1938.

Today Mintel research reveals that beverage alcohol sales were off by 4.9% in the on-premise channel (restaurants, bars and clubs) over the same period. As we cut back in restaurant visits, we’re moving our adult beverage consumption to the home front, up 1.2 % over the same period and over 21% since 2004.

Hey buddy, can you spare a dime?

In a Forbes magazine report showcasing a new consumer attitude study from ad agency Euro RSCG , we find that saving rather than splurging is preferred now by 87% of Americans. And that 79% of us have way more respect for people who live relatively simple, debt-free lives than we do the bling-centric luxury lifestyle folk. Says Forbes: “Robin Leach has been sucker punched by Ed Begley Jr.”

Having possessions for their own sake and a sense of a life well lived are being separated from each other. Eight in 10, according to the study, believe that society has become too shallow, focusing on things that don’t matter. In a way you might say the “hyper-consumerist” life didn’t pan out the way consumers thought it would.

So what does this mean?

The data helps us see a new picture emerge:

• 80% of consumers are now shopping more carefully and mindfully.

• 54% are paying attention to the environmental and social impact of the products and brands they buy.

• 57% believe that cause participation matters.

More is less today about accumulation of goods. Instead our focus is on community, simplicity, a sense of purpose and belonging.

Successful brands in the digital age grow because they’re learning to align themselves as enablers, facilitators and supporters of consumer lifestyle interests and concerns. So, too, the message in brand communications and PR must adjust to acknowledge the desire for greater meaning, for personal growth, giving back and cause involvement – living simpler and less cluttered lives.

How can your band and product portfolio help consumers live a more satisfying life? And help them realize their desire for greater meaning? For belonging and sense of community?

What say you?